WiseGuyReports published new report, titled “UK Town Centres”
"UK Town Centres 2017-2022", report offers comprehensive insight and analysis of the market and sectors (including forecasts up to 2022), the major players, key trends and consumer attitudes. It provides in-depth analysis of the following: the hot issues impacting the market (over-spaced key retailers closing stores, rising operating costs threatening profitability, shifting retail mixes in town centres, closure and digitisation of services in town centres), strategies for success, sector sizes and forecasts, town centre case studies, retailer market shares and future outlook as well as consumer data.
Although physical share of retail spend is declining, stores remain an essential part of retail and town centres as the largest contributing channel to retail spend, is forecast to grow by 4.9% over the next five years. Food & grocery, the largest sector in terms of expenditure in town centres, will be the driving force behind this market growth, with shoppers continuing to carry out top-up shops in convenient town centre locations. Subsequently, food & grocery will account for more than 40% of town centre sales by 2022. Tesco and Sainsbury’s will remain the market leaders in 2017, growing share driven by high inflation in the sector and the growth of convenience in food & grocery.
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- Though the town centres channel is forecast to grow by 4.9% over the next five years, the rate of growth will be lower than growth in total physical retail, as spend in retail parks and supermalls continues to rise at a faster pace.
- As shoppers choose to shop at more appealing physical locations such as supermalls and the online channel continues to satisfy shoppers’ rising expectations for product choice, experience and convenience, non-food spend will continue to decline in town centres with clothing & footwear share of the channel forecast to fall by 2.8 percentage points by 2022.
- Food & grocery and health & beauty will experience the fastest growth in town centres, growing by 19.9% and 16.6% respectively, with the former being driven by growth in convenience and rising inflation, and the latter being driven by the overall growth in the health & beauty sector - it is set to be the fastest-growing retail sector out to 2022.
Key points to buy
- Utilise our market sizing and forecasts for the key sectors in the town centres market to understand the impact of the growth of food & grocery in town centres and decline of non-food sales out to 2022.
- Understand the opportunities in the town centres channel through our analysis of key issues in the market as well as the drivers which are aiding growth, such as landlords’ provision of lower or zero rents to avoid unoccupied units and growth in the number of independent stores and services creating diversity in town centres and helping to drive footfall.
- Identify which retailers are growing their presence in town centres and what they are doing to drive share in order to identify what this means for your brand and how you will be impacted.
- Use our consumer data to understand who is shopping in town centres, and those who shop frequently in the channel as well as the town centres shopper journey including sector profiles, use of leisure facilities and multichannel shopping habits.
Table of Contents
The hot issues
What people buy
Where people shop
Who people shop with
How and why people shop
Wise Guy Reports is part of the Wise Guy Research Consultants Pvt. Ltd. and offers premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.
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