Following a new report that shows nearly 50 high street shops close every week, we take a look at how the Christmas rush affected the retailers.
Research from Altus Group found that 44 shops disappear from British high streets every week. This is Money reported that almost 15,860 shops across England and Wales have shut in the last seven years; showing a 3.6% decline in the number of shops.
Shops across the UK face increasing pressure from online retailers, but did Christmas shopping have any affect on this?
Debenhams said that, in the 17 weeks to December 30, group gross transaction value (GTV) dipped 0.8%, while group like-for-like sales fell 1.3%. Although, digital sales rose 9.9%, with two-year growth of 22%.
John Lewis had a slow week in the seven days to December 30 as total sales dipped 0.4% to £137.9 million. Home sales were down 4.5% on last year, despite strong sales in upholstery and the ‘gifts, cook and dine’ category. However, clearance sale and fashion did well with an 8.4% increase – a record week for women’s wear. This followed the week to December 23 when total sales rose 8.9% to £191.32 million.
British retailer Poundland, owned by Steinhoff, said on Wednesday January 3 that it enjoyed a record Christmas, with sales up 5.6% in the 12 weeks to December 24.
However, digital remains top seller! According to data published by GBH Insights, Amazon Prime sales accounted for half of all holiday sales during 2017. The service showed 38% growth over last year.