High street UK shops giving way to “leisure and services” outlets
25 Sep 2013
High street shops in the UK are increasingly giving way to outlets offering ''leisure and services'', with the increasing internet use driving changes in the retail landscape, according to a new report.
PriceWaterhouseCoopers commissioned the Local Data Company for the survey, which showed there were more 3-star hotels, convenience stores and coffee shops on the high street than at the start of the year.
There were also more bookmakers and cheque cashing centres.
However, the new openings had helped fill the gap left by the demise of more traditional outlets, with the number of women's clothes stores down 3 per cent since January, and the collapse of Blockbuster and Jessops meant there were 48 per cent fewer video stores as also 24 per cent fewer photographic outlets.
According to PwC, the January - June period this year had seen 3,366 stores close – a rate of 18 a day.
The report , however, said 3,157 new shops had opened over the same period.
The net reduction of just 209 came as an 80 per cent improvement on 2012 and there were now more shops in Yorkshire & Humber, the East of England and the South West than in January.
According to Mark Hudson, PwC retail partner, closures would continue for years to come, but there were increasingly signs other types of stores would take their place.
He added, gradually, the high street would become a place where people went to eat and consume services.
Meanwhile, Labour leader Ed Miliband is set to unveil plans for freezing business rates for small firms, though his proposals had been criticised as ''tinkering at the edges''.
Miliband is expected to tell supporters, in the event of the Labour Government coming back to power in May 2015 it would for starters lower rates back to 2014 levels and then freeze business rates until 2016.
The move would however, be aimed at businesses with rental properties of £50,000 or less, impacting 1.5 million small businesses.
It would be expected to save small businesses, such as pubs, shops and hi-tech start-ups, an average of almost £450 over two years, with some firms saving £2,000.
According to the British Labour Party it would make up the shortfall in revenue by reversing a planned cut in corporation tax from 21 per cent to 20 per cent, which was due to come into force in April 2015, according to BBC News.
