The BRC - Local Data Company Vacancy Monitor is a quarterly monitor that tracks the vacancy rate changes to the UK retail landscapes (retail park, high street, shopping centre) as they evolve since Q1 2019.
Shopper numbers were boosted by the platinum jubilee in June, but footfall is expected to remain behind pre-pandemic levels for the “foreseeable future” as the cost-of-living crisis impacts consumer behaviour.
Footfall in April dropped across all retail destinations as the sector waits to see whether the month will be a precursor for the future as the cost-of-living crisis deepens.
After three years of consistently rising rates, which hit record highs in 2021, vacancies are in decline for the first time. Retail Week runs a rule over the numbers to gauge what state retail destinations are in as pandemic conditions recede