A new report from the Centre for Retail Research predicts a dire future for the state of the UK retail, estimating that more than a fifth of high street stores will close over the next five years.

22%

The proportion of high street stores expected to close by 2018.

316,000

Predicted number of job losses stemming from the closure of high street stores over the next five years.

13%

The expected rise in the UK unemployment rate in 2018. It currently stands at 7.8%.

24%

The estimated store vacancy rate by 2018.

21.5%

Online retail’s expected share of total retail sales by 2018, up from 12.7% in 2013.

12%

The growth in consumer spending since 2006.

161%

The rise in store vacancy rates from December 2008 to March 2013.

16

The number of major retailers to have gone into administration during the first quarter of 2013.

£320m

The amount the Centre for Retail Research wants to be invested on small-scale redevelopment, creating up to 20,000 new homes and turn empty stores into leisure services.

Topics