UK Town Centre Retailing

Covering retailers based on high streets and in shopping centres, this report identifies and analyses current and future town centre retail development issues. It includes data and trends for town centre retailing as a whole and for types of retailer over the last 10 years and forecasts for the next five years. It also ranks the Top 20 UK town centres.



Report Highlights
Over the next five years the UK's town centres are set to come under increasing pressure as consumer demand slows and competition from rival retail channels intensifies. While the strong pipeline of new shopping centres should help reduce the impact of weakening underlying consumer demand, we remain cautious in our outlook and expect average town centre sales densities to slip into reverse from 2009. Department stores in particular will be driving town centre growth with John Lewis set to open five new stores by 2011 after minimal space growth activity during the previous five years and Debenhams committed to 25 new department stores also by 2011.


[Studien Infos ausblenden]

CHAPTER 1 EXECUTIVE SUMMARY 13
Key Findings 13
Main Conclusions 14
CHAPTER 2 MARKET ANALYSIS 18
Market Definitions 18
Town Centre Summary 20
Retail Spending by Location 22
Town Centre Sales and Sources of Growth 25
Store Numbers by Location 27
Floorspace by Location 28
Sales Densities by Location 29
Town Centre Space 30
Town Centre Sectors 31
Books, News & Stationery 33
Clothing & Footwear 34
Department Stores 36
Electricals 37
Food & Grocery 38
Furniture & Floorcoverings 39
General Merchandise Retailers 40
Health & Beauty 40
Music & Video 42
CHAPTER 3 RETAIL ISSUES 44
Return to Growth 44
Competition from Other Locations 46
Out-of-town Increases Share Across All Retail Sectors 47
Rapid Online Growth Continues 48
Weaker Town Centre Players Continue to Struggle 49
Music & Video 49
Clothing Specialists 50
Toy Specialists 50
Books & Stationery 53
CHAPTER 4 COMPANY DATA ANALYSIS 54
Town Centre Sales 59
Profits & Margins 65
Store Portfolio 76
Sales Densities 91
Advertising Media Expenditure 96
CHAPTER 5 LEADING UK TOWN CENTRES AND COVERED MALLS 102
Methodology 102
Number of Physical Outlets and Total Retail Selling Space 103
Key Department Store Anchors and Fashion Retailers 104
Catchment Population 104
Parking and Transport Quality 104
Presence of a Concentrated Shopping Offer 105
Recent Retail Space Expansion 105
Affluence Levels 106
Competing Draw of an Out-of-town Offer Nearby 106
Geographical Supremacy 106
Top 10 Town Centres & Covered Malls 107
Top 10 Covered Malls 112
Top 20 114
Greater London 115
South- east 118
South-west 122
Wales 124
West Midlands 126
East Midlands 128
East Anglia 131
Yorkshire & Humberside 134
North-east & North-west 137
Scotland 144
Northern Ireland 148
CHAPTER 6 OUTLOOK 150
Town Centre Summary 150
Town Centre Sectors 155
Town Centre Development 161
CHAPTER 7 GLOSSARY 165
Financial Statistics – VAT 165
Abbreviations 166


[Inhaltsverzeichnis ausblenden]

Table 1: Retail location definitions 2007 18
Table 2: Town centre sales, space and stores 1996, 2001 & 2006 20
Table 3: Retail spending by location at current prices 1996-2006 22
Table 4: Sales through town centre retailers 1996-2006 25
Table 5: Sources of growth for town centre retailers 1996-2006 26
Table 6: Store numbers by location 1996-2006 27
Table 7: Town centre floorspace vs all stores 1996-2006 28
Table 8: Sales densities by location at current prices 1996-2006 29
Table 9: Town centre space by location 1996-2006 30
Table 10: Town centre sales and share of sector 2006 31
Table 11: Books, news & stationery specialists in the town centre 2001 and 2006 33
Table 12: Town centre clothing & footwear specialists 2001 and 2006 34
Table 13: Town centre department stores 2001 and 2006 36
Table 14: Town centre electricals specialists 2001 and 2006 37
Table 15: Town centre grocers and food specialists 2001 and 2006 38
Table 16: Town centre furniture & floorcoverings specialists 2001 & 2006 39
Table 17: Town centre general merchandise retailers 2001 and 2006 40
Table 18: Town centre health & beauty specialists 2001 and 2006 41
Table 19: Town centre music & video specialists 2001 and 2006 42
Table 20: Demand side factors impacting the town centre 2007 45
Table 21: Major town centre casualties January 2006 - April 2007 52
Table 22: Leading retailers (A-H) turnover record (ex-VAT) 1997-2007 59
Table 23: Leading retailers (H-N) turnover record (ex-VAT) 1997-2007 60
Table 24: Leading retailers (O-Z) turnover record (ex-VAT) 1997-2007 61
Table 25: Leading retailers (A-H) operating profit 1997-2007 65
Table 26: Leading retailers (H-N) operating profit 1997-2007 66
Table 27: Leading retailers (O-Z) operating profit 1997-2007 67
Table 28: Leading retailers (A-H) operating margins 1996-2006 70
Table 29: Leading retailers (H-N) operating margins 1996-2006 71
Table 30: Leading retailers (O-Z) operating margins 1996-2006 71
Table 31: Leading high street retailers (A-H) selling space (000 sq ft) 1997-2007 76
Table 32: Leading high street retailers (H-N) selling space (000 sq ft) 1997-2007 77
Table 33: Leading high street retailers (O-Z) selling space (000 sq ft) 1997-2007 77
Table 34: Leading high street retailers (A-H) store numbers 1997-2007 84
Table 35: Leading high street retailers (H-O) store numbers 1997-2007 84
Table 36: Leading high street retailers store numbers 1997-2007 85
Table 37: Leading retailers sales densities (A-H) 1997-2007 91
Table 38: Leading retailers sales densities (H-N) 1997-2007 91
Table 39: Leading retailers sales densities (O-Z) 1997-2007 92
Table 40: Town centre retailers advertising spend breakdown (£000) 2006 96
Table 41: Town centre retailers advertising expenditure 2001-2006 97
Table 42: Town centre retailers advertising spend breakdown (%) 2006 101
Table 43: Weighting of Top 20 factors 2007 103
Table 44: Top 10 covered malls by size 2007 112
Table 45: Verdict’s Top 20 UK Shopping Centres 2007 114
Table 46: Greater London key statistics 2007 115
Table 47: South-east key statistics 2007 118
Table 48: South-west key statistics 2007 122
Table 49: Wales key statistics 2007 124
Table 50: West Midlands key statistics 2007 126
Table 51: East Midlands key statistics 2007 128
Table 52: East Anglia/East of England key statistics 2007 131
Table 53: Yorkshire & Humberside key statistics 2007 134
Table 54: North-east & North-west key statistics 2007 137
Table 55: Scotland key statistics 2007 144
Table 56: Northern Ireland key statistics 2007 148
Table 57: Town centre summary data 2001, 2006 & 2011 150
Table 58: Town centre vs total retail spending 1996-2011 152
Table 59: Town centre sales by sector 2001, 2006 & 2011 155
Table 60: Town centre space by sector 2001, 2006 & 2011 156
Table 61: Shopping centre developments (major schemes only – gross retail space sq ft) 2007-2010 162



Figure 1: Share of total retail expenditure by location 1996-2006 24
Figure 2: Retail issues influencing the town centre 2007 44
Figure 3: Leading retailers town centre stores change in sales (adjusted to calendar years) 2006 on 2001 62
Figure 4: Leading retailers town centre stores change in sales (adjusted to calendar years) 2006 on 2005 63
Figure 5: Leading retailers % share of town centre sales 1996, 2001 & 2006 64
Figure 6: Town centre retailers change in operating profit (adjusted to calendar years*) 2006 on 2001 68
Figure 7: Town centre retailers change in operating profit (adjusted to calendar years*) 2006 on 2005 69
Figure 8: Operating margins of clothing specialists and department stores 1996-2006 72
Figure 9: Operating margins of household goods and other retailers 1996-2006 74
Figure 10: Space growth of leading town centre retailers (adjusted to calendar years) 2006 on 2001 78
Figure 11: Space growth of town centre retailers (adjusted to calendar years) 2006 on 2005 80
Figure 12: Leading retailers share of town centre space (adjusted to calendar years) 1996, 2001 and 2006 82
Figure 13: Change in store numbers 2006 on 2001 86
Figure 14: Change in store numbers 2006 on 2005 87
Figure 15: Average store size sq ft (adjusted to calendar years) 1996, 2001 and 2006 89
Figure 16: Sales density growth of town centre stores 2006 on 2001 93
Figure 17: Sales density growth of town centre stores 2006 on 2005 94
Figure 18: Advertising expenditure as a percentage of sales – household goods and other retailers 2002-2006 99
Figure 19: Advertising expenditure as a percentage of sales – clothing specialists and department stores 2002-2006 100
Figure 20: Top 10 retail locations 2007 scores vs 2002 107
Figure 21: Top 10 retail locations in the UK 2007 108
Figure 22: Key retail locations in Greater London 2007 117
Figure 23: Key retail locations in the South-east 2007 121
Figure 24: Key retail locations in Wales 2007 125
Figure 25: Key retail locations in the West Midlands 2007 128
Figure 26: Key retail locations in the East Midlands 2007 130
Figure 27: Key retail locations in East Anglia 2007 133
Figure 28: Key retail locations in Yorkshire & Humberside 2007 136
Figure 29: Key retail locations in the North-east 2007 142
Figure 30: Key retail locations in the North-west 2007 143
Figure 31: Key retail locations in Scotland 2007 147
Figure 32: Retail spending growth vs town centre sales 1996-2011 153
Figure 33: Town centre sales sources of growth 1996-2011 154
Figure 34: Town centre market share breakdown by sector 2006 158
Figure 35: Forecast town centre market share breakdown by sector 2011 159
Figure 36: Percentage point change in sector shares of town centre sales 2006-2011 160


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