The retail sector is going through a prolonged period of upheaval – the Centre for Retail Research have described the industry as undergoing a “permacrisis” since the 2008 financial crash.
Factors such as changing consumer behaviour, increased internet shopping and challenging economic conditions are changing the way retailers operate and engage with their customers. The coronavirus pandemic and increased cost of living have added to these challenges and accelerated trends such as increased online shopping and closures of retail premises.
This briefing paper describes the current state of the retail sector in the UK using data and recent reports on the industry. Sometimes due to data availability, data refers to Great Britain only. This briefing covers the retail sector only (not the wholesale sector) and does not provide information on government policy in the retail sector.