REVEALED: How high streets have fared amid online shopping boom
Scores of shops in the West Midlands closed their doors last year – with a loss of 144 stores across the region.
New figures released by PwC have found a reduction of 144 retail outlets across the region in 2017.
The decline is around two-and-a-half times worse than 2016, when the region experienced a net loss of 60 shops.
How did each area fare?
There was a mixed bag across the Black Country and Staffordshire – with some areas, including Walsall and West Bromwich – actually seeing an increase in the number of high street shops.
Dudley saw the biggest loss of shops, with nine fewer at the end of last year compared to the start.
Overall Walsall saw 15 retail stores open and two close, Wolverhampton 25 open and 27 close, Dudley four open and 13 close, and Stourbridge had none open and three close.
Cannock saw seven shops open and 14 close, Stafford six open and 14 close, West Bromwich nine open and seven close, and Smethwick six open and nine close.
What is behind the shop closures?
Black Country LEP board member Ninder Johal said: “It’s good to see that parts of the Black Country are showing improvements when it comes to the retail landscape.
"But of course overall the structural problems for retail continue – with changing consumer tastes, competition from places like Amazon and of course the digital economy.
“I’m confident that the economy in the Black Country seems to be in a good place with all the attractions we have across the region.
“And I believe we can reverse the areas that are showing a downward trend in the number of shops and consolidate those which are showing an upward trend.”
The data show that for the 12 months from January 2017, 338 shops opened on high streets, retail parks and shopping centres in the West Midlands – but there were 482 closures.
Andy Lyon, leader of PwC’s retail and consumer practice in the Midlands, said: “2017 has proved to be one of the toughest trading periods West Midlands retailers have experienced in years – borne out by a 9.1 per cent rise in store closures with high street names such as Twenty One going into liquidation and others such as Maplins and Toys R Us facing the same fate.”
