Search News

Results: 1-10 of 808


Start again

22 Mar 2024

Rob Brown, co-director of Dalby Forest Cycle Hub, a not-for-profit hire scheme has been nominated for the Tourism Superstar 2024 award, run by VisitEngland.

8 Mar 2024

Daniel Blackham, editor of industry magazine BikeBiz, has been writing about his experience of completing the Cytech technical one qualification at training provider Spokes People in Milton...

6 Mar 2024

Cytech partner Activate Cycle Academy, the largest and most recognised training provider of bike maintenance and technical training courses to the UK’s cycle industry, recently welcomed a...

2 Jan 2024

Hudjo is the first online marketplace that lets cyclists park with locals, which relieves the anxiety of parking your bike. 

19 Dec 2023

Bira's CEO, Andrew Goodacre, took the spotlight on BBC Breakfast this week and later spoke with Nicky Campbell on BBC Radio 5 Live, shedding light on the rise in retail crime and shop theft,...

23 Nov 2023

Retail sector leaders have expressed a range of concerns, from taxation to business rates, following the Chancellor’s Autumn Statement this week.

15 Nov 2023

The British Independent Retailers Association (BIRA), which works with over 6,000 independent businesses of all sizes across the UK, has outlined its expectations from the government...

9 Nov 2023

Cytech has been named as the provider of Best Retailer Services in the 2023 BikeBiz Awards, recognising the positive impact of its service to the cycling industry. More than 25,000 Cytech...

2 Nov 2023

Cytech, the internationally recognised training and accreditation scheme for bicycle technicians, has relaunched its Cytech theory one online learning course delivering an introduction to...

4 Oct 2023

Shop owners have called on the Home Secretary to specifically outlaw attacks on retail workers.

Back to news menu

Shop occupancy rates improve despite cost-of-living crisis

Posted on in Business News , Cycles News

The number of shops lying vacant on British high streets fell during the final three months of 2022, despite pressure on both companies and consumers from the rising cost of living.

empty ship

Figures in a report from the British Retail Consortium (BRC) and Local Data Company (LDC) showed the overall vacancy rate improving to 13.8%.

It marked a 0.1 percentage point improvement on the July-September period, the report showed.

The total was also 0.6 percentage points better than the same period last year and marked the fifth consecutive quarter of falling vacancy rates in the wake of the COVID pandemic.

Despite government support, a swathe of chains and independent stores closed amid the public health restrictions.

A shift towards online shopping and staying at home during the pandemic was soon followed by a surge in costs following the reopening, with stores and hospitality struggling to recruit staff at the same time.

Costs tied to the reopening were exacerbated by energy-led inflation, which is still, industry says, claiming victims by the day as many struggle to pay their way at a time of depressed spending by consumers.

The report showed that Greater London, the South East and East of England had the lowest vacancy rates.

While the highest rates were in the North East, followed by Wales and the West Midlands.

The North East, however, was seeing the highest rates for store openings.

The study suggested this was being aided by a return of investment, supported by the return of people to offices and the repurposing of many abandoned sites.

Helen Dickinson, chief executive officer of the BRC, commented:

"The first half of 2023 will likely be yet another challenging time for retailers and their customers.

"There are few signs that retailers' input costs will ease, putting further pressure on margins, and making businesses think twice on how much investment to make.

"However, the situation should improve in the second half of the year, as inflationary pressures begin to ease and consumer confidence is expected to return."

Back to news menu

Useful links

If you have any other queries please contact us.