Paul Michael Greenhalgh, Professor of Real Estate and Regeneration at Northumbria University, discusses post-industrial decline and how retail spaces are closing and losing value across England and Wales. Across the UK, retailers are struggling to survive. This is down to several factors: years of austerity and low wage growth has meant that households have less spending power, the cost of imported goods has risen – as has the national minimum wage – and the trend of “bricks to clicks” means more consumers are shopping online, from the convenience of their home, than in store. This is not just bad news for retailers. Empty shop fronts blight the high street in towns and cities across country. Research I conducted, together with the R3intelligence team at Northumbria University, found that retail is in decline across most of England and Wales, with just a few areas bucking the trend. By comparing the government’s … (To read the full article, subscribe below)
Professor of Real Estate and Regeneration at Northumbria University.
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