High Street’s Worst Year on Record Predicted

  • Over 10,000 stores predicted to close in 2018
  • CRR’s ‘Retail At Bay 2018’ report highlights the retail crisis
  • Online growth attributed to failure of brick-and-mortar retailers
  • Online sales to reach 24.6% of non-food market share in 2018
  • Amazon’s potential monopoly concerns
  • Business rates blamed for bricks-and-mortar retailers’ struggles

A new report from the Centre for Retail Research (CRR) predicts that 2018 will be the worst year on record for store closures, with over 10,000 outlets disappearing from the high street. The ‘Retail At Bay 2018’ study argues that the retail sector crisis will continue unless rapid government or local council action is taken. Since 2012, traditional retailers have only seen a +0.5% increase in sales while online retailers experienced an +87.7% growth. The report also suggests that high streets may shift focus to leisure and entertainment as more space is allocated for restaurants, coffee shops, and other services.

Factuality Level: 8
Factuality Justification: The article provides accurate information from a reputable source (Centre for Retail Research) and presents data on store closures, online retail growth, and the impact of business rates. It also discusses potential future trends in high street development. The article is well-focused and does not contain any irrelevant or misleading information.
Noise Level: 7
Noise Justification: The article provides relevant information about the retail sector’s challenges and predictions for the future, but it could benefit from more in-depth analysis of the underlying causes and potential solutions. It also includes some repetitive information and relies on previous reports without offering significant new insights.
Financial Relevance: Yes
Financial Markets Impacted: The report impacts retail companies and may affect brick-and-mortar retailers’ stock prices.
Financial Rating Justification: The article discusses the decline of traditional retail stores and the growth of online retail, which can impact the financial performance of retail companies and potentially affect their stock prices in financial markets.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There is no extreme event mentioned in the article.

Reported publicly: www.retailsector.co.uk