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UK Town Centre Retailing | Verdict Channel Report

  • February 2014
  • 108 pages
  • GlobalData
Report ID: 3468638

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Summary
Town centre returned to growth in 2013, the first time it grew since 2007, with growth set to strengthen in 2014 at +1.0%. This improved performance will be driven by the more needs based sectors, such as food and grocery, and the growth of fixed price retailers. Food has been especially buoyant as retailers have developed their convenience offer more and customer do more smaller, top-up shops.

Key Findings
- Gain a greater understanding of the major issues set to impact town centre over the next five years. How can you capitalise on these changes?

- Use our winners and losers and sector analysis sections to benchmark performance against the market and your main competitors. How do you stack up?

- Shape future expansion strategies by comparing town centre against neighbourhood and out of town across a number of metrics.

Synopsis
The momentum that begun in 2013 will continue up to 2019 and we forecast that growth through town centre will overtake out of town in 2018. Again, the needs based sectors will drive this robust performance. However, growth will be muted by home entertainment such as music and video and books as these sectors shift irreversibly towards digital.

Two areas which shopping centre should use to drive footfall is leisure and offering free Wi-Fi. With a robust leisure offer, centres can attract shoppers during weak periods like the summer. Free Wi-Fi is increasingly becoming an expectation among shoppers and can be used to collect data.

Central London has retained the top spot in Verdict's Top 100 Town Centres despite recording a lower score. As well as its significant catchment area, it is also supported by a below average vacancy rate, and more affluent shopper, it is supported by tourist spend and its iconic shopping locations such as Oxford Street, Covent Garden, and Harrods.

Reasons To Buy
- How does town centre compare to other physical channels in terms of sales and space growth and sales densities over the next five years?

- One of retail's major winners during the downturn, how do we forecast pound stores will perform over the next five years?

- Which town centres are in this year's Verdict Top 100 Town Centres and Malls?

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