UK Retail Shows Resilience Amid Economic Uncertainty with Shift Towards Convenience and Experiences
• Spike in both retail and leisure openings and closures in 2023, showing resilience amid economic challenges
• Retail parks see net increase in units and drop in vacancy rates; expected to see rental growth
• Beauty services, convenience stores expand as shoppers make more frequent, smaller purchases
• Mixed-use projects easier to develop under new UK planning laws, benefiting local retail
• Agile retailers and developers able to identify opportunities despite economic uncertainty