British Retail Sector Suffers Over Rising Brexit Uncertainties
According to Springboard, Springboard, empty shops in Britain rose to the highest level since January 2015, with the national town center..
According to a survey by Springboard, empty shops in Britain rose to the highest level since January 2015, with the national town center vacancy rate touching 10.3% in July, up 0.1% from the previous quarter. Footfall of shoppers has also declined by 1.9% in July to touch the lowest levels in seven years.
British shopping centers were the worst affected, experiencing a footfall decline of 3.1%, followed by UK high streets where shopper footfall fell by 2.7%. Meanwhile, retail parks saw shopper footfall rise by 1.2% in July.
This latest data is in line with the recent report from BRC which revealed the slowest sales growth in July, with 12-month average total sales falling to 0.5%. High streets as well as online retailers are experiencing slower growth in retail sales over mounting Brexit uncertainties.
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