INSIGHT
Retail snapshot
February 2023
Miles Marten
Principal & Managing Director, Retail
“2022 was another difficult year for the retail sector due to increasing costs and declining consumer confidence. However, towards the end of the year, there was some positive news as shoppers returned to physical stores, evidenced by an increase in footfall over the busy festive period. Nationally, out of town retail parks saw footfall return to almost pre-pandemic levels which shows their resilience compared to other retail locations”
Dan Kent
Principal, UK Retail
“The busy festive trading period delivered surprising results for some retailers, with many seeing increases in sales which were higher than expected, especially in physical stores. Online share of retail sales has declined gradually throughout 2022 and this was visible in some of the pureplay operators’ trading results. 2023 will remain challenging, but those retailers who adapt to meet changing consumer needs will continue to thrive”
Shopping centres
VACANCY RATES
High Street
Retail Parks
OVERVIEW
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