Number of retail businesses up 6% on pre-pandemic level

The number of retail businesses in the UK is now 6% above its pre-Covid level, with 375,200 such companies now operating nationwide. Birmingham, Leeds and Glasgow are among the locations that have seen growth in their retail sectors, according to EvaluateLocate. Birmingham boasts nearly 7,100 retail businesses, up by almost 1,000 since before the pandemic, reflecting a 16% growth over five years. Glasgow has seen a 17% rise since December 2019, with 3,458 active retail businesses now operating. Adam Kirby, EvaluateLocate’s chief executive, said the retail sector has shown consistent growth and online sales have stabilised, maintaining a steady share of just over 26% of total UK retail sales in the past two years. However, the rise in retail businesses does not necessarily translate to more shops on high streets, retail parks or in shopping centres, he added. Rather, it reflects the sector’s resilience and capacity to adapt despite the closures of some major brands. Kirby said: “Retail businesses thrive on enhanced consumer spending and it’s interesting to see from our data that there’s a growing correlation between growth in the number of retail-orientated businesses and localised increases in resident earnings.” Image © Greg Blatchford/Shutterstock See which agents are doing the most retail deals in the United Kingdom >>