THE rate of store closures in Scotland continues to be below that of the UK with two new stores opening daily, according to fresh statistics.
Data from PwC and the Local Data Company (LDC) shows throughout 2023, 1069 stores in Scotland closed their doors while 732 were opened - resulting in a net loss of 337 shops and outlets belonging to multiples and chains (those with five or more outlets).
With the overall reduction at -2.1%, it means Scotland’s closure rate in 2023 is around one third higher than the 2022 rate of -1.4%, but remains lower than the period between 2017 and 2021.
It is also lower than the UK average of -2.3%.
Ross Marshall, Partner at PwC Scotland, said: “Our research shows that, despite the continuing annual reduction of stores across Scotland, there is a willingness from business to invest in physical outlets, with two new stores opening per day for every three closed throughout 2023.
READ MORE: Owen Thompson: 'Westminster working to limit voices of SNP'
“It demonstrates the continuing evolution of our high streets, retail parks and shopping centres with a real shift towards out of town and retail park locations and a resurgence in the hospitality sector - demonstrating that ‘café culture’ is going nowhere.
“Across Scotland in the last few months alone, a variety of new eateries and bars have opened their doors, and entrepreneurs are making the most of the franchise model to bring big names to key Scottish locations.
“This willingness to invest in bricks and mortar for shoppers is encouraging.”
The analysis shows that retail parks remain the most resilient outlet type, demonstrating a 0.3% increase in the number of outlets across Great Britain, while standalone stores - as well as those in shopping centres and high streets - all experienced net closures.
Despite the overall decline, the hospitality sector has seen a “notable rebound” according to the research.
PwC and LDC’s data shows that five of the top seven new opening categories were in the hospitality sector.
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here