LONDON – Since more than three months of strict closure due to the coronavirus, non-essential stores in England have once again resumed operation on Monday,
It was predicted by the industry lobby group, the British Retail Consortium, that UK stores have lost 27 billion pounds ($37 billion) in sales over three lockdowns, while 67,000 retail jobs were shed in 2020 alone.
Some 17,532 chain store outlets vanished from high streets, shopping centers, and retail parks across the UK last year, according to data compiled by the researcher the Local Data Company for accountancy firm PwC.
But with more than half of the UK’s adult population has received at least one of the vaccine’s two doses, analysts do not think shoppers will hold back.
Market researcher Kantar is forecasting that consumers will spend 3.9 billion pounds ($5.3 billion) on the high street in the first week of reopening.
England’s non-essential stores have been closed since Jan. 4 when Prime Minister Boris Johnson imposed a third lockdown to stem a surge in COVID-19 cases.
Non-essential stores will also reopen in Wales on Monday, though Scotland’s shops will have to wait until at least April 26. Northern Ireland does not decide yet.
Getting shoppers spending again is key to Britain’s economic recovery after official data last month showed that 2020 was the worst year for its economy in more than three centuries.
Analysts reckon the customer bounce-back could be more pronounced than the one last June.
To help the sector cope with the challenge of social distancing regulations, which are scheduled to remain in place until June 21, the government is allowing extended opening hours. It said last month that shops can open until 10 p.m. from Monday to Saturday.
