The landscape of the British high street has changed immensely over the past few years.
During the pandemic Britons switched from in-person shopping to making online purchases.
The cost of living crisis has further changed peoples’ spending habits, with many curbing their trips to the shops (in store and online) in an attempt to save money.
According to Myers Clark, a changing high street is down to squeezed incomes, the shift to online shopping, chasing tastes, rising overheads for retailers, too much dept for retailers, and too many shops.
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.”
While some retailers have announced exciting new store openings, such as Søstrene Greene, Mango, Lounge Underwear and Sephora, others are closing their doors en masse.
House of Fraser, Boots, Argos, Iceland, Lloyds Pharmacy, New Look, H&M, Amazon and Superdry are some major staples that have closed down stores recently.
Clothes, beauty, home and food retailer Marks and Spencer will be closing the M&S full line store in Eagles Meadow, Wrexham on November 30.
However, local shoppers won’t have to wait long to return, as a brand new Foodhall will open in Wrexham on December 1, just one day later, located in Plas Coch Retail Park.
This is part of Marks and Spencer’s strategy to reduce its “full line” stores – clothing and home branches – and increase its Simply Food stores.
Mike Bolland, store manager at Wrexham, stated: “It’s brilliant to confirm our opening day. Our store will be packed with many exciting new features which we can’t wait to reveal and we’re counting down the days to finally open the doors so our customers can experience it for themselves.”
M&S announced in May that it would close 20 stores this year as part of its turnaround plan to accelerate growth, as reported by Retail Gazette.
The retailer revealed that 10 of the stores closing will be relocated elsewhere, five of which will be new flagship stores.
Last year M&S said it would close 67 “lower productivity” outlets by the end of 2027 in an effort to save £300million.
Chief executive Stuart Machin said that M&S aims to have 180 “full-line” stores selling food, clothing and homeware products by early 2028 – down from 247. However, it’s not all store closures. The retailer is investing in flagship stores and store refits.
M&S stores set to close in 2023
New M&S stores to open in 2023
New Full Line stores
- Trafford Centre – November 30
New Foodhalls
M&S full-line stores already closed this year:
- East Kilbride Shopping Centre – closed February 25
- Fenchurch Street, London – closed March 31
- Meadowbank retail park, Edinburgh – closed April 1
- Linthorpe Road, Middlesbrough – closed April 15
- Carlton Street, Castleford – closed April 22
- Newport Road, Cardiff – closed in May
- Deansgate, Bolton – closed in May
Post source: Express
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