UK retail begins recovery as active businesses surpass pre-pandemic levels

The number of active retail businesses in the UK is now above the pre-Covid level. According to analysis by the UK spatial intelligence model, EvaluateLocate, there are now 375,000 retailing businesses trading across the country – a 6% uplift on the December 2019 level.

EvaluateLocate CEO, Adam Kirby, comments: “Given the well-documented problems that retailing has had in recent years, it may come as a surprise to many that the sector is moving forward in terms of the number of active businesses.

“In contrast, internet sales as a percentage of total UK retail sales appears to have plateaued during the past two years at just over 26%.

“Whilst the increased number of retail businesses will not, of course, directly equate to new shops on High Streets, retail parks or in shopping centres, it does demonstrate that the ability of the sector to reinvent itself continues despite the notable failures of some big brands”.

“This trend demonstrates that the ability of the sector to reinvent itself despite the notable failures of some bigger brands. Retail is alive and well and raring at the reins in towns and cities across the land.”

Birmingham, Leeds and Glasgow are among the locations that have seen growth in their retail sectors. Birmingham is now home to nearly 7,100 which is nearly 1,000 more than prior to the pandemic and represents five-year growth of 16%. Similarly, Glasgow has 3,458 active retail businesses – a 17% increase since December 2019.

Adam Kirby concludes: “Retail businesses live on consumer spending and it’s interesting to see in these locations that there’s also a growing correlation between an increasing number of retail-orientated businesses with growth in resident earnings.

“As we head into the all-important Christmas trading period, there are some reasons for retailers to be cheerful.”