Physical stores remain a key driver to success for retailers in the United Kingdom, according to CBRE. The government’s furlough scheme and business rates relief have provided lifelines for many retailers since the outbreak, but further assistance from landlords is required to help keep stores open, while the true cost of COVID-19 to retailers is still unknown.
During this period, the retail sector has been put under huge pressure, and new CBRE research identifies predictions, trends and insights across the sector, based on interviews and surveys with leading U.K. occupiers. Most nonessential retailers will be looking to open as soon as possible, in line with the government guidelines of June 15. Others will carry out a staged “wait-and-see” approach.
Reopening comes at a cost following a time of prolonged closure. Retailers are faced with operational challenges such as safety and training of staff and encouraging customers into stores while ensuring they feel
