17,000 local high street stores could open over next year in UK

The benefits are most likely to be seen in local high streets rather than in big cities

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17,000 local high street stores could open over next year in UK. Source: pexels.com

According to Barclays Corporate Banking research, 17,000 local high street stores could open over the next year as British shoppers adapt to a post-lockdown world by ‘looking local’.

In fact, British consumers have returned to physical stores with confidence since restrictions began to ease. For instance, 68% say they have felt safe, or very safe, to return to the high street.

Meanwhile, 40% of the respondents are planning on stepping up their in-store shopping over the coming year and 41% say that it is their favorite way to shop.

The research shows that home and hybrid working patterns will persist into 2022 for 44% of workers, with 16% expecting to work entirely from home and 28% anticipating a part-home, part-office model.

At the same time, a quarter of consumers now say that the best way a retailer can appeal to them is to open stores in their local area.

Our report shows how innovative UK retail businesses are looking to build back better to meet the challenges of a reshaped and revitalised retail landscape. Ecommerce has been the undisputed winner of the pandemic but not far behind are community high streets, as shoppers seek to ‘look local’ and support the stores on their doorstep. With the continuation of home working, this shows no sign of slowing down, and retailers are now looking at evaluating their store estates to meet local demand
Karen Johnson, Head of Retail and Wholesale for Barclays Corporate Banking

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