As reported by Retail Insight Network, UK retail vacancy rates continued to fall in the final quarter of 2022 to 13.8% (up by 0.6% from the last quarter of 2021 and by 0.1% from the third quarter of 2022). This comes despite both the business and consumer confidence indexes remaining low. It seems that retailers are keen to maintain a physical presence in shopping centres and high streets, suggesting a belief that the current difficulties with cost of living will be short lived.

So, what does 2023 hold for the retail world? Sustainability and reaching Net Zero are still top of the agenda with the reduce, reuse, recycle narrative at the forefront. This will likely be pushed further and faster as, whilst we have narrowly avoided recession so far, finances will remain tough and uncertain for consumers throughout this year. Will we start to see more brands offering recycling and repairing services? Or including pre-loved items on their rails? 

Whilst centering on the US market, Forbes have also reported that the focus is anticipated to be on hybrid shopping, with a push towards creating a seamless journey between online and in-store. It seems the expectation is that tech will develop substantially this year to allow for greater streamlining across all selling and marketing platforms.