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Sharp increase in new vape shops in the UK | Business News

More than 230 independent vape shops opened across the UK last year, new figures have revealed.

It represents a sharp increase from the 61 new stores which opened in 2022, and a net fall of 23 in 2021, according to a survey of retail areas by the Local Data Company (LDC).

The rise comes amid government plans for new restrictions on vaping due to concerns about the impact of the devices on children and the environment.

The LDC said 233 independent vape outlets opened in 2023, bringing the total across the UK to 3,573.

The figures relate to specialist stores only and do not include corner shops, Post Office branches, newsagents and other outlets that stock vaping devices and accessories.

It comes amid a boom in vaping products in the UK, with growth in value sales of £897m in 2023, according to market researcher NIQ and trade magazine The Grocer.

But there are concerns about the impact of disposable vapes on the environment, along with worries about their use among young people, despite a ban on sales to under-18s.

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The number of children using vapes in the past three years has tripled, according to Action on Smoking and Health. The charity estimates one in five of those aged between 11 and 17 have tried vaping.

Last year, the government unveiled plans to introduce tighter restrictions on smoking and vaping, with a consultation currently ongoing into proposals to potentially ban disposable vapes.

Other plans under consideration include price rises and restricting the flavours and appearance of such products to make them less attractive to children.

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Pupils ‘can’t last a lesson’ without a vape

But the vaping industry argues that their products play a crucial role in helping people to stop smoking.

UK Vaping Industry Association director general John Dunne said: “The independent specialist vape shop in the UK plays an important role in advising smokers how best to make the switch to vapes, and ultimately how to continue their journey to zero nicotine.

“Vapes are proven to be the most effective way for smokers to quit, helping around 50,000 more smokers beat their habit every year and a rise in the number of specialist vape shops reflects a growing demand from smokers wanting to quit a habit that kills over 200 people every day in the UK alone.”

Nearly 50 shops shut down a day in 2022 – up nearly 50% on 2021 | Business News

Close to 50 shops shut down every day in 2022, more than at any other point for at least five years.

In a bruising year for retail, 17,145 shops closed last year – up by nearly 50% on 2021, when 11,449 shops shut.

Analysis by the Centre for Retail Research found about 47 sites shut up shop for the last time every day last year.

As shops shut, jobs went with them. More than 151,000 retail jobs were lost in the UK last year, including from online retailers – an increase of more than 45,000 on the year before.

The group’s survey found that a little over 5,500 of the shops went under, while more than 11,600 of them were closed as a larger chain decided to cut its costs.

The Centre for Retail Research’s director, Professor Joshua Bamfield, said: “Rather than company failure, rationalisation now seems to be the main driver for closures as retailers continue to reduce their cost base at pace.”

He said the trend was likely to continue this year, but added that a few “big hitters” could also go under.

The researchers found there had been a 56% drop in shops being closed because larger retailers – with 10 or more sites – went out of business.

They said that many of the chains that were going to fail already had in recent years. But Joules, McColl’s and TM Lewin among others still went under.

The real estate adviser Altus Group said that retailers and landlords would have to pay close to £1.1bn from April 1 to cover the business rates on empty sites. These are sites that have been empty for three months.

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Robert Hayton, UK president at Altus Group, said: “Rate-free periods need to be urgently extended to reflect the time that it actually takes to re-let vacant properties.

“The current woes facings the retail sector, driven by the war in Ukraine, mean that empty rates are ripe for modernisation.”