Britain’s high streets, shopping centres and retail parks lost 38 shops per day in the first half of this year, according to accountancy firm PwC.
That’s a slight increase compared to the first six months of last year, when 36 shops closed each day.
A total of 6,945 stores belonging to multiples and chains (with five or more outlets) have ceased trading so far in 2024.
Openings also grew slightly, however, up from 24 to 25 per day.
Chemists, pubs and banks accounted for half of all net closures. Convenience stores, coffee shops, value retailers and cafes had the most net openings.
Over the last three years net closures have remained relatively stable at 11-12 outlets per day, PwC said, suggesting a “slow but steady decline in physical outlets” as consumers conduct more shopping, banking and other transactions online.
The data also shows that Britain’s shift from high streets to retail parks is continuing, with footfall on high streets now 15-20% lower than before the pandemic.
In the first half of 2024 high streets and shopping centres saw a decline in customer numbers, while retail parks bucked the trend with footfall on the increase.
Some shopping centres are pivoting to different uses, such as leisure, entertainment and hospitality, in order to fill the gaps left by pandemic-era closures, PwC said.
