UK Lockdown Estimated to Cost Retailers £22 Billion in Lost Sales

UK Lockdown Estimated to Cost Retailers £22 Billion in Lost Sales

London’s Oxford Street during lockdown. Shutterstock.

Last year was the worst year on record for non-food retail sales growth, a new report from the British Retail Consortium (BRC) has found. In-store sales were down 24 percent from 2019, while footfall fell 40 percent, according to the trade body.

Government action will be essential to the sector’s recovery, the BRC said. The body is calling for extensions on business rates relief and debt enforcement suspensions on rent payments. It’s also demanding retailers have easier access to government grants and support funds.

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