Online and offline location growth rate of retail in the UK 2013-2023

Online retail shops in the UK have achieved growth of more than 50 percent between 2013 and 2018, based on expenditure. In contrast, the growth rate of offline shopping locations such as retail parks, malls and town centres remained below 10 percent. Town centres are especially afflicted by slumping growth rates, as more store closures are taking place in British high streets.

The future is not that dark for offline retail

The outlook for online and offline shopping locations changes somewhat dramatically for the next few years until 2023. While online still has a greater growth rate than offline shopping locations, and increasingly accounts for a larger share in retail trade, significant improvements are forecast for offline shopping locations, particularly for retail parks and town centres.

Combining online and offline

This can be accounted for increasing multichannel and omnichannel capabilities conventional retailers are adopting, with a view to gradually bridge their brick and mortar business with online sales and service.