Report shows that revenues have fallen across nearly all major retail centres in UK
A report on the UK retail landscape has revealed that Manchester has retained its position as the largest retail centre outside of London. However, the research also showed that revenues have fallen across nearly all of the major retail centres.
The 2012 RetailVision Report by Callcredit Information Group found that out of the top ten retail centres, only Knightsbridge saw a rise in revenue compared to last year.
The report also revealed that Westfield Stratford City shopping centre surged to seventh place in the table, despite opening only six months ago. Birmingham leapfrogged Glasgow to take third place, while Leeds overtook both Liverpool and Edinburgh to take eighth place.
The report, which provides market analysis of shopper catchments and retail centre revenues across the UK, covered 17,107 retail centres classified across 25 centre types.
Never Miss a Retail Update!In this year’s report, Callcredit introduced new brand classifications, with retailers now being classified either as luxury, premium, mass, budget or value. Blackpool, which came 90th in the overall revenue chart, topped the table for the most value stores (21.02% of all stores), followed by Sunderland (20.94%) and Wakefield (19.02%).
Nine of the top 10 ‘luxury’ retail centres were in London and the South East, with Knightsbridge, Chelsea and Westfield White City at the top of the table. Manchester (10th) was the only retail centre outside of the South East to have a place in the top ten.
Chris Duley, commercial director at Callcredit Information Group, said: “The fact that revenues have fallen across nearly all retail centres in the past year shows just how tough trading conditions are. In this economic climate, it is vital that retailers use strategic planning models to help them choose the right location for their brand and customers.”
