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UK Retail Parks 2018 - 2023

UK Retail Parks 2018 - 2023

  • January 2019
  • 54 pages
  • ID: 5724742
  • Format: PDF

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UK Retail Parks 2018 - 2023

Summary
Retail parks are set to outperform the offline market over the next five years as spend rises 8.4% out to 2023 driven by food & grocery. Accounting for almost one third of the market in 2018, food & grocery will bolster spend as discounters continue to implement ambitious store opening plans.

Retailer administrations and CVAs hit retail parks in 2018 with non-food spend falling 1.1% on 2017. Young consumers are the least likely to visit retail parks, as only 49.9% of 16-24 year olds visited a retail park in the last 12 months versus 59.3% of all consumers. Partly due to the retailer and product choice available but also due to the limited public transport options making the location difficult to access without a car.

Reflecting the trend evident across the UK retail market, value general merchandisers clearly appeal to consumers with players including B&M, Wilko, Dunelm, The Range and Home Bargains ranking in the top 10 retailers visited in retail parks, across various product sectors. Larger stores on retail parks, enable general merchandisers selling a wide product range including large items such as furniture, to showcase their full product offering with shoppers easily able to transport items purchased to cars parked nearby.

The "UK Retail Parks 2018 - 2023", report offers a comprehensive insight into the consumer and market dynamics of the retail parks channel. The report analyses the market, which retailer consumers use and consumer attitudes of the location.

Scope
- Retailer administrations and CVAs hit retail parks in 2018 with non-food spend falling 1.1% on 2017.
- Young consumers are the least likely to visit retail parks, as only 49.9% of 16-24 year olds visited a retail park in the last 12 months versus 59.3% of all consumers.
- Leisure facilities are often lacking in retail parks and need to be improved to increase dwell time.

Reasons to buy
- Use our in-depth consumer and market insight to learn about the growth of the retail parks location over the next five years.
- Understand which consumers are more likely to shop at retail parks at which retailers, and their shopping journeys.

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