High Streets Hit Record Growth as Retail Sales Enjoy Bounce Back

High street retail enjoyed a springtime bounce back, with growth in sales from April to June being the best on record, industry figures suggest.

According to figures, sales in the period rose 28.4% from a year ago and were up by 10.4% from 2019. The British Retail Consortium (BRC) said that June’s sunny weather and the Euro 2020 tournament was a key contributor to the rise in trade.

However, the BRC warned that many retailers would face “strong headwinds” as the UK economy continues to recover from the pandemic.

In June, fashion and footwear performed well with the brief burst of sunshine, while the start of Euro 2020 football championship encouraged a boost of sales in TVs, snack food and beer.

Other reports highlighted that online sales remained much higher than their pre-pandemic levels, suggesting that the shift to online is “here to stay”.

There were also signs of a dilution in retail consumer spending as the hospitality and leisure sectors reopened. This has led to a “fight for share of wallet” according to research.

Industry experts have said that retailers are now facing several challenges, particularly convincing consumer that it is safe to shop in store a restrictions around mask wearing and social distancing come to an end. It was also added that high street retailers are hoping for a “summer boost” with the lifting of COVID restrictions.

The BRC have said that the second quarter of 2021 saw exceptional growth due to the gradual unlocking of the UK economy. This saw a release of pent-up demand which has been built up over previous lockdowns.

They continued by saying that in June non-food sales were stronger due to the growing consumer confidence and the continued unleashing of consumer demand, while food sales have begun to slow. In addition, with many people taking staycations or cheaper UK-based holidays, many have had a little extra spending money for the shops, as strong growth has been identified in June.

Now, consumer comfort will be the next key stage of the road map. Many consumers look forward to returning to a more normal shopping experience, while others might feel discouraged by the changes in the face-covering rules.

Mark Richardson, Partner at BB&J Commercial commented “it is clear that the warmer weather and easing of pandemic restrictions are playing a huge part in the economic uplift we are seeing at the moment. We have been very lucky that over recent months we have seen many commercial properties fly off the shelf, some sold even before the property went to market! We are confident that more businesses will continue to embark on buying or letting commercial properties, as demand has increased drastically.”

Do you have a commercial property you would like to let or sell? At BB&J Commercial, we are continuously looking to grow our portfolio with various commercial properties. If you are interested, contact us today on:

Tel: 01332 292825

Email: commercial@bbandj.co.uk


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