Fewer empty town centre premises

The number of town centre vacancies in Scotland has fallen according to the latest figures from the Scottish Retail Consortium and Springboard.

The town centre vacancy rate for Scotland was 9.2% last month, an improvement on the rate of 10.5% in October 2017.

However, this remains above the UK average of 8.9%.

Footfall fell by 4.6% year-onyear in Scotland in January, a deeper decline than the three month average of a fall of 3.9%, and the 12-month average of minus 1.1%.

David Lonsdale, director of Scottish Retail Consortium, said: “These are starkly contrasting results, with an improvement in the shop vacancy rate over the past quarter tempered by a ninth consecutive monthly decline in shopper footfall.

“The better vacancy rate was aided by pop-ups and temporary lets deployed in the lead-up to Christmas, whilst shopper footfall tumbled at a faster rate than over the past quarter and year as a whole, albeit no doubt explained in part by snow and icy conditions deterring shoppers.

“We do have to keep in mind that almost a quarter of nonfood retail sales are now purchased online and retailers are increasingly adept at harnessing the internet to get through to consumers who might not have time to travel to the shops.

“Indeed those retailers with a strong multichannel offer – allowing customers to shop instore, at home and on the move – have tended to do well of late as the development of our digital economy continues at pace.

“This is a period of significant tumult for the retail industry, with profound changes in shopping habits at a time of sluggish demand and rising cost pressures. These structural, economic and regulatory changes show few signs of abating.”

David Lonsdale, director of Scottish Retail Consortium.