Jewellers defy high street closures by continuing to increase sites

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Jewellers are amongst an extremely select group of retailers who are increasing their number of site openings in the face of 15 high street shop closures a day.

A recent report has shown that jewellers have achieved the one of the highest net increase in site openings, behind tobacconists and estate agents.

Jewellery retailers increased by a net of 24 site openings, which closely followed tobacconists (+28) and estate agents (+26). This follows the Local Data Company’s end-of-year report for 2015 which showed independent jewellers seeing a net gain of 4.35% in the number of stores opening. They were also amongst those growing at the fastest rate during the first half of last year.

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The report, produced by the PwC and Local Data Company, detailed that 2,656 outlets closed on UK high streets in the first half of 2016, demonstrating the pressures on retailers in Britain. Greater London saw the biggest net fall in the country as 164 shops closed. The report noted that retailers preparing for an increase in business rates next year could be contributing to the high number of closures.

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