{"id":163294,"date":"2020-11-05T09:30:41","date_gmt":"2020-11-05T09:30:41","guid":{"rendered":"https:\/\/www.theindustry.fashion\/retail-vacancy-rate-rose-11-3-in-october-the-highest-rise-since-april-2013\/"},"modified":"2021-08-06T12:08:53","modified_gmt":"2021-08-06T12:08:53","slug":"retail-vacancy-rate-rose-11-3-in-october-the-highest-rise-since-april-2013","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/retail-vacancy-rate-rose-11-3-in-october-the-highest-rise-since-april-2013\/","title":{"rendered":"Retail vacancy rate rose 11.3% in October \u2013 the highest rise since April 2013"},"content":{"rendered":"<p>The coronavirus impact on bricks and mortar retail has become even more evident by a further rise in the <strong>UK retail vacancy rate in October, 2020, to 11.3%,<\/strong> the highest since April 2013 and a significant increase from 9.8% in January, 2020.<\/p>\n<p><!--more--><\/p>\n<p>Vacancies have risen in every area of the UK from January, 2020, apart from in Scotland and Wales, with <strong>the vacancy rate in Greater London at 9.4%<\/strong> - almost double what it was in January, 2020, when it stood at 5.3%, according to the latest data from retail experts Springboard.<\/p>\n<p>Covering the four weeks from 4-31 October, 2020, <strong>footfall also weakened by -31%, compared to -28.2% in September,<\/strong> which had improved from -30.8% in August.<\/p>\n<p>When it comes to <strong>high streets, footfall dropped by -39.8%,<\/strong> while in shopping centres it dipped -33.1%, and by -11.9% in retail parks.<\/p>\n<p>Not surprisingly, with non-essential retail set to close for four weeks from today, <strong>footfall is predicted to plummet by -80%<\/strong> compared to 2019 during Lockdown 2.<\/p>\n<p>A massive <strong>61% of shoppers plan to spend more online over Christmas this year,<\/strong> but 64% are planning to spend less overall. Only 10% of shoppers plan to increase the number of gifts they buy to help alleviate the doom.<\/p>\n<p>Despite the easing of restrictions over the summer, and the \"Eat Out to Help Out\" scheme, at the end of October, 2020, footfall in UK retail destinations remained <strong>a third lower than in October 2019.<\/strong><\/p>\n<p>The month was characterised by the introduction of greater restrictions, with the three-tier approach in England, the two week \u2018firebreak\u2019 in Wales and the closure of hospitality in Northern Ireland.<\/p>\n<p>Springboard Insights Director, Diane Wehrle, comments: \u201cDuring the second month-long lockdown in England, <strong>we expect to see footfall plummet by around -80% from last year.<\/strong><\/p>\n<p>\u201c<strong>November 2020 was set to be a major month in the retail calendar,<\/strong> with footfall increasing week-on-week during the month of November for the last three consecutive years, so the loss of this trading opportunity will be irreversible for many businesses.<\/p>\n<p>\u201cWe knew before the second lockdown was announced that it was going to be a tough Christmas for retail, but now <strong>spending lost in stores in these key trading weeks will simply not be recovered.<\/strong> So, we expect the shop vacancy rate to rise even further in 2021.\u201d<\/p>\n<p><a href=\"https:\/\/www.theindustry.fashion\/subscribe-now\/\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-144088 size-full\" src=\"https:\/\/www.theindustry.fashion\/wp-content\/uploads\/Daily-Newsletter-Banner.png\" alt=\"Newsletter banner\" width=\"1680\" height=\"268\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":140973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[6,10494],"tags":[12159,9982,9981],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - 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