- Home
- News
- Sectors
- People
- Supply chain
‘UK’s economic underperformance matters for all in retail’- ‘How to recover cost inflation while continuing to offer value to customers’
- ‘Supermarkets aren’t to blame for product shortages, but it’s time to pause for thought’
- ‘From automation to home working, Sainsbury’s changes highlight forces shaping retail’
- Tech
- ‘Can you be sure that AI will capture who you are and what customers like about you?’
- Virtual try-on and fewer returns: How retailers are using AR to elevate the customer experience
- Ranking: Meet the 30 UK retailers forecast to dominate ecommerce
- As Ocado banks on international tech success, is this as good as it gets at home?
- Stores
- Store gallery: John Lewis pilots ‘shopping by senses’ and localisation in new-look branch
- Store gallery: Inside Heaven by Marc Jacobs’ first store outside LA
- Is Sephora’s first UK store in nearly two decades worth the wait?
- Exclusive: Dwindling retail space under pressure as new development hits 20-year low
- Events
- RW Live
- Prospect
Exclusive: Dwindling retail space under pressure as new development hits 20-year low
Pressure is being applied to new retail stock at a time when desire for new physical space is peaking and construction starts reached a 20-year low.
Data shared exclusively with Retail Week by property analytics firm CoStar shows that ground was broken on just 500,000 sq ft of new retail space in the final three months of 2023 – down 53% year on year and less than a quarter of the long-term average of 2.4 million sq ft.
The data found this was the weakest quarter for new construction in more than 20 years, as rising interest rates, inflation and construction costs compounded already-weak sentiment towards the retail sector generally.
Subscription content
Please sign in now if you have a subscription or are already registered with us.
Register for free to continue reading
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
- Two free article views per calendar month on Retail-Week.com
- Detailed analysis of current trends and events
- Exclusive newsletters
- In-depth reports, videos, interviews and much more
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.