Spending habits have drastically changed in the last few years. The pandemic, then the cost of living crisis, both altered the way consumers shop.
While some stores are announcing exciting new openings, such as Mango, Sephora, Greggs and Moss, some retailers and supermarkets are downscaling.
Back in August, Retail Gazette reported: “According to the British Retail Consortium, 6,000 shops have closed down in the UK in the last five years as a result of crippling business rates, a wave of administrations during the pandemic, and hesitancy around new openings.”
Tesco, Boots and Costa Coffee, all beloved British companies, have announced store closures which will come into effect as early as next week.
Boots announced that five UK branches will close their doors in November. Gorleston, Great Yarmouth and High Row, Darlington, have already shut.
The health and beauty retailer plans to shut 300 shops over a 12-month period.
The aim is to cut down the number of stores from 2,200 to 1,900, with bosses believing that this will help “consolidate the business”.
