High-street rent has bottomed out
Retail sales grew by 11.2% YOY in Q2 2021 from the low base of last year, driven by strong growth in apparel, luxury goods and electrical goods. Backed by the higher vaccination rate, eased social distancing measures and the rollout of the Consumption Voucher Scheme, the worst has passed for the retail sector as we see high street rents bottom out.
Insights and recommendations:
- We expect retail market sentiment will continue to recover gradually in H2 2021
- Retail sales will be dependent on local consumption over the next one to two years
To see what could be for you in the retail sector, talk to our experts today.