Retailers across the UK has suffered losses to the tune of around £22 billion due to the lockdowns imposed by the government since March 2020 in the wake of the coronavirus crisis, according to estimates by the BRC. Retail sales growth suffered the worst performance ever recorded through 2020, with growth in retail sales of in-store non-food items contracting by 24% YoY and retail footfall falling by more than 40%.

Since the beginning of the coronavirus pandemic in March 2020, the UK government has implemented three rounds of lockdowns, urging people to stay at home in a bid to contain the spread of the virus. During this period, most stores that stocked non-essential, non-food products were forced to down their shutters, causing a steep decline in sales.

Retailers suffered the most during the lockdowns during the peak holiday season during December 2020 ahead of Christmas and New Year. During the end of the year, retail stores were expecting a strong rebound in sales that could have helped them work towards a rebound in the current year.

To counter the adverse impacts of the pandemic on the retail sector, the BRC has called for the government to grant an extension of relief on business rates to the most severely affected businesses. In addition, the group insists that extending the moratorium on debt enforcement can lend further support to retailers who are unable to pay their rents due to an inability to operate and generate revenues.