Member Article

542 stores closed across the North West in 2014

A total of 542 stores closed across the North West in 2014, only 410 shops opened meaning there was a net loss of 132 stores across the region according to a report by PwC and Local Data Company

This is the 3rd highest number in the country, with only the East and West Midlands having more shop closures in their regions.

PwC say that the move to online sales and change in consumer demand are the main factors that have impacted the closures.

The main closures are seen in more traditional clothes and shoe shops, as well as service retail shops like opticians, travel agents, hairdressers and recruitment agencies.

Leisure stores, for example food, entertainment and beverage shops have continued to thrive.

Charity shops, coffee shops, tobacconists/E-cigarettes, pound shops and betting shops opened the most branches during 2014.

Retail leader at PwC, Mark Hudson, said: “We’re again seeing the continued effects of the digital revolution and consequent change in customer behaviour play out on the high street - these trends have been with us for some time and we should expect the rate of closures to continue.

“Customers are embracing new mobile technologies, traditional retail channels to market are being wiped out and new channels are being created, often in the online rather than the “real” world.

“The future can be seen by watching the ‘digital natives’ at work and play - those who have grown up with online shopping, mobile phones and ubiquitous broadband have a very different relationship with traditional high streets than the previous generations. Rather than try to recreate the past, the high street needs to evolve to be relevant to the future.”

This was posted in Bdaily's Members' News section by Sophia Taha .