The region’s high streets are holding up better than most in the country, but 20 of the top 25 are still losing shops.
Leeds, York, Sheffield, Doncaster and Bradford took the brunt of the region’s 89 net losses in the first half of 2019, with only Grimsby, Pontefract and Beverley in positive territory.
This time last year 117 units had disappeared.
The three hardest hit lost 11 each, with those in positive territory mustering plus two and plus one. Pocklington and Goole remained constant.
Analysis of the Yorkshire and Humber region by PwC and Local Data Company showed how continued growth in online shopping, shift to in-home leisure and heightened restructuring activity continues to take its toll.
But with record levels in Great Britain, it isn’t as hard hit as other areas.
Joel Smith, PwC’s retail lead for Yorkshire & Humber, said: “The positive for the region is that year on year the net fall in stores has slowed, however quite simply openings across the region aren’t replacing closures at a fast-enough rate with some of our towns experiencing no new openings – that said Yorkshire & Humber was one of only four regions to experience a slowdown in net figures year on year.
“The reality for many of us is that we now prefer to shop online and increasingly eat, drink and entertain at home. As a result the high street is having to adapt to an overcapacity in retail and leisure space resulting from these channel shifts.
“The key for retailers and leisure operators across Yorkshire & Humber is to continue looking at their businesses - including their store portfolios - to make sure they have a strong brand and product offering. We continue to see the winners flourishing because they serve the needs of the customer by offering things that only a physical store can achieve underpinned by a clear proposition.”
The research also revealed that across multiple retailers in the 25 town centres analysed across the region, men’s clothes shops, public houses/bars, estate agent’s butchers and bakers
experienced the highest net fall in the number of outlets.
Nationally a record net 1,234 stores disappeared from Great Britain’s top 500 high streets in the first hald of 2019. Fashion retail continues to be the hardest hit sector.
Yorkshire and Humber was joined by East Midlands, North East and South East in reducing the losses.
Lucy Stainton, head of retail and strategic partnerships at The Local Data Company, said: “One of the most striking things about this latest Local Data Company and PWC analysis is the level of market churn identified in such a short space of time. Whilst the overall net change number, a loss of 1,234 occupied units in only six months, is certainly significant, the level of openings and closures activity beneath this is hugely notable as the industry continues to re-set.
“In our experience, retailers are being that much more cautious and risk averse as far as both planning for new store openings and in making decisions across their existing property portfolios.
The reality is that UK retail space will continue to look very different over the coming years, and this is demonstrated by the sheer number of stores opening and closing on an ongoing basis.”
