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High Street suffers worst year on record

MailOnline reports that retail sales have fallen for the first time since records began in 1995, according to figures from figures from KPMG and the British Retail Consortium (BRC)

Total retail sales in stores and online fell by 0.1 per cent in 2019, with non-food sales falling 1.4 per cent over the three months before Christmas, compared to the same period in 2018.

This comes as the rising costs on rents, business rates and wages, has pushed 249 large retailers including Mothercare, Forever 21 and Jack Wills into administration in the last two years, according to Deloitte's insolvency figures.

Uncertainty over a No Deal Brexit has caused consumers to become more cautious and more conscientious in their Christmas shopping, resulting in shop closures and job losses for the sector.

Full article:

This is Money - High Street suffers worst year on record: Retail sales FALL in 2019 for the first for first time since 1995 and Black Friday overtakes Christmas


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