Continuing the trend from the first half of 2022, the full-year results for store openings and closures are the best PwC has seen in years. Chain outlets are now closing at their slowest rate since 2014, with net closures also at their lowest number in five years. While openings remain lower than pre-pandemic levels, they are also picking up. PwC is seeing particular success for retail parks, shopping centres and leisure operators, and as footfall returns, others have quickly arrested the decline. But challenges do remain, particularly for service sectors and other areas impacted by legislation or a move online. PwC looks at what these findings mean for retailers, leisure and service operators and locations across GB.
The best performance since 2017:
Against a gloomy economic background, PwC’s 2022 store openings and closures results are remarkably positive. The slowdown of closures seen in their first-half results has continued in earnest, and there are plenty of reasons for optimism, according to PwC.
PwC’s full-year results show a total of 11,530 chain outlets (those with five or more outlets) exited GB high streets, shopping centres and retail parks. Equivalent to 32 closures per day, it’s worth remembering that during the pandemic PwC saw nearly 50 closures per day.
Read more on their website.