New report predicts large number of stores will disappear from the high street in 2019.
A new report has forecast more woe for the high street, predicting that over 23,000 stores will disappear this year.
The annual report from real estate adviser, Altus Group, said that the loss would result in a further 175,000 job losses.
According to the report, 62% of major UK property owners and investors surveyed said that online retailers such as Amazon have disrupted the retail property market, reported Fashion United.
In addition, a further 78% said the increasing popularity of experiential retail was affecting investment decisions.
The report follows on from last week’s figures from Visa’s UK Consumer Spending Index – this showed that consumer spending fell in eight months of 2018, with in-store spending down 1.6% on an annual basis. Growth in ecommerce spending rose 0.5%, said Fashion United.
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