Online shopping speeds up closure of high street stores
THE number of traditional retailers closing across Scotland’s high streets is rising rapidly, according to a report.
The decline has been put down to the growth in online shopping and a shift to “in-home leisure”, PwC said.
In the first half of 2018 there were 58 new store openings in Scotland’s main cities and towns, but 107 closures, figures from the Local Data Company (LDC) show.
In Scotland, nine towns and cities were evaluated in the study, with Aberdeen faring worst with 22 stores closing and only two opening in the first six months of 2018.
In Edinburgh there was a net reduction of 13 stores and in Glasgow 11, to 992 and 887 respectively.
The rate of closures in Scotland was better than the UK as a whole, which saw a net 1,123 stores disappear from the top 500 high streets.
Mark Addley, head of restructuring for PwC in Scotland, said: “The intensity of the current retail climate, which is being felt across Scotland’s towns and cities, highlights that restructuring and new investment are required, but so are new ways of thinking.”
Retail has been hit