Retail industry sees decline in new shop planning applications

Posted on 25 July, 2016 by Editor in Chief

Potential new retail developments have seen a drop in planning applications, according to a recent report by EMW.

Retail Industry sees decline in new shop planning applications

In 2015, there were 6,700 applications for new shop builds, compared to 7,360 in the previous year. The lack of applications has seen a 9 per cent drop in the past year, resulting in a seventh decline in a row.

Before the recession, the year 2008, received 11,900 new shop applications. This has decreased by nearly half, resulting in fewer new retail units.

With the disappearance of traditional brands like, BHS, My Local, and Austin Reed, are e-commerce companies more appealing to the ever changing customer buying habits.

Online retailers, Asos and Boohoo, are effectively generating a large customer base, with their adaptable online shopping experience and every growing marketing campaigns.

Traditional retailers have expanded their online presence, but still they struggle to keep up with the online-only shops.

Aimee Barrable, EMW, commented:

“With online retailers continuing to win market share, high street firms have less of an appetite to open new shops, instead opting to develop online services or squeeze extra profits from existing space by changing the shopping experience or repurposing stores to act more as showrooms or collection points.”

With “recent high-profile closures” this could see retailers acquiring vacant retail units, rather than applying for a new development.

Leaving the EU, may also be a contributor, Aimee continued to say, “it may be that many retailers wait before committing to any new shop developments until they have a clearer picture of the economy in the aftermath of the Brexit vote”.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

The latest property data has identified Newquay as the fastest property seller’s market in the UK

Investing in your garden can increase your property’s value

French Riviera temping high-end homebuyers

How can the ownership rights of my commercial property impact a business sale?

Should I incorporate virtual property viewings permanently?

Investment expected to increase across Asia-Pacific in 2021

UK property industry slows as the conclusion of tax break looms

BNP Paribas cautioned investors on Friday as debt-trading bonanza that increased its earnings this past year

Over 300,000 property purchases fell through in 2020 – we show the most frequent motives and the best way to get your house sale back on track

House Prices in the Capital Surpass £500,000

Optimism from the Bank of England’s chief economist

The most expensive commercial properties.

Businesses operating from shared premises will miss out on grants

BA cuts 12,000 jobs, unions hit back

Media Streaming Service See Record Subscriptions

Covid-19 Causes Millions To Claim UK Furlough Scheme