Can Britain's high streets weather the cost of living crisis?
This week Anna is joined by Knight Frank’s head of retail research Stephen Springham and retail analyst Emma Barnstable.
1 minute to read
They set the scene first on the current state of the UK retail sector two years on from the start of the pandemic and then look at how a consumer squeeze is impacting the market – rising prices are everywhere, the cost of margarine has shot up by over 30% in the past year, while fashion retailer Next is forecasting price hikes of nearly 4% in the first half of this year. Emma and Stephen discuss how bad the pandemic was for the retail sector and how prepared it is to face up to the cost of living crisis. They also dissect the latest January sales data and give their outlook on Britain’s empty shop numbers, with the retail vacancy rates having jumped to around 15% during the pandemic.