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Latest retail figures reveal another strong month for sales
Commenting on the BRC/KPMG Retail Sales Monitor which was published this morning, James Brown, Head of European Retail Research, Jones Lang LaSalle, said: “Recent retail reports and confidence indicators have consistently shown improvement for the UK economy and for retail, but the numbers mask the sector and regional differences. Whilst today’s figures are encouraging, we must not lose sight of the challenges that lie ahead for pockets of UK retail.“With 20-25 per cent of retail space in its current form arguably obsolete, retailers are reviewing their existing property portfolios whilst looking for growth in resilient new markets. We are seeing some retailers walking away from underperforming locations and instead prioritising capital expenditure to build ecommerce platforms designed to bring online and in-store retail together. The good news is that opportunities do exist, both online and physically, but modern retailers need to ensure retail space is the right space in the right place. “The plight of the high street has come under much scrutiny in recent months, and it must remain a priority. Businesses and government must work together to find solutions that support the changing form and function of UK shopping, as well as the evolving requirements of towns and cities more broadly."