Journal of Emerging Trends in Economics and Management Sciences: Home

Article Title:
The UK Retail Industry and its Effect on Construction Sectors
by Rafiu Dimeji Seidu; Bert Ediale Young; Upeksha Hansini Madanayake; Harry Clark.

Abstract:
The retail industry originated from the local high street to expanding shopping centres and out of town shopping centres. However, in the past 15 - 20 years the industry has taken multiple hits and is now currently at its lowest point ever. There is now a growing amount of shop closing, leaving multiple empty units due to previous recession and increase in online shopping. Ever since the recession, many businesses struggled to survive and had reported losses during this period due to lack of business, lack of investment in retail outlet, and shoppers having less disposable income for shopping. Online shopping iscontinuouslygrowing, increasing from 5% in 2008 to 18% in 2019 as shoppers? habits change in terms of where and how they shop[1].However, how frequent they shop will play major roles on future procurement opportunities for the retail construction industry. The recent pandemic (covid-19) with lockdown around the world, will change the way we shop though theeffects are not yet fully established. Procurement for constructing retail units are not as low as earlier anticipated in comparison to the struggling market.Hence, this research aims to analyse the changes in the retail industry, its effect on procurement of retail outlets and longevity of the construction industry, with the objectives of creating an awareness within the industry and government policy maker so that the resulting effect can be address to prevent unemployment this might generate or loosing our high street retail outlet completely. The research uses secondary data and tender information from Building Cost Information Services (BCIS), and identifies the following changes in Retail Industry: increase online shopping, changes in consumer buying habits and changes to the customer shopping experience.

Keywords: Retail Industry, Construction Industry, Procurement, Online Shopping, High Street Shopping.

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