Callcredit Information Group

Callcredit Information Group

November 26, 2013 01:00 ET

Callcredit 2013 RetailVision Report

Major cities and regional shopping centres retain retail revenues

Whilst smaller towns and local shopping centres continue to face downward pressures

LEEDS, UNITED KINGDOM--(Marketwired - Nov. 26, 2013) - Callcredit Information Group has released its latest RetailVision Report of the UK retail landscape, revealing that the UK's largest retail destinations continue to maintain retail revenues, against a backdrop of increasing competition from online retailers and pro-longed tough trading conditions.

Major retail centres have further cemented their regional dominance and have put more downward pressure on the surrounding smaller towns and local shopping centres across the UK, where revenues have started to see some decline. These smaller retail destinations will have to work hard to stimulate footfall and establish their identity to attract shoppers.

Key findings:

  • The top four retail centres: Oxford Street, Manchester, Birmingham and Glasgow retain their positions as the leading shopping destinations in the UK

  • Although Manchester remains the top retail location outside of London, Westfield Stratford City Shopping Centre and Edinburgh have knocked the northern city out of the top 10 'luxury' retail centres

  • While the majority of revenues have grown for the top retail centres, many lower tier towns and smaller shopping districts have seen revenues decrease

  • Sunderland, Newport and Bradford have overtaken Blackpool as the top retail centres for value stores

Callcredit's retail centre ranking, highlights a stable position amongst the top retail centres, largely due to the lack of large-scale retail development during 2012/13. Trinity, Leeds is the standout development during the period, and has pushed Leeds above Nottingham into 7th place in the ranking (4th outside London).

Chris Duley, Director at Callcredit's GMAP Retail Planning team commented, "Our latest retail reports highlights the opportunities and challenges faced by retail centres up and down the UK. Successful national and international retailers are continuing to extend their store footprint but the wider retail environment needs to be right to attract shoppers. The big centres can offer this; the question is can the smaller centres offer this too."

The RetailVision report provides the most detailed listing of shopper catchments, retail centre revenues and customer profiling across the UK, covering over 17,000 retail centres classified over 25 centre types.

Chris concluded, "In the current difficult economic climate we believe that RetailVision's comprehensive and multi-dimensional approach can help retailers, brands, property companies and town/shopping centre managers alike in identifying and implementing the right location strategies, and thus helping them derive maximum returns from their bricks and mortar investment."

Top 50 UK Retail Centres**

Comparison Rank Centre Centre Type Annual Revenue Ranking Last Year
1 Oxford Street Premier Shopping £1,471 m 1
2 Manchester Major City Centre £920 m 2
3 Birmingham Major City Centre £882 m 3
4 Glasgow Major City Centre £829 m 4
5 Westfield Stratford City Shopping Centre Regional Out of Town Shopping Centre £735 m 7
6 Knightsbridge Premier Shopping £705 m 5
7 Leeds Major City Centre £685 m 8
8 Nottingham Major City Centre £660 m 6
9 Edinburgh Major City Centre £654 m 10
10 Liverpool Major City Centre £645 m 9
11 Leicester City Centre £635 m 11
12 Westfield Shopping Centre - White City Regional Out of Town Shopping Centre £607 m 7
13 Kingston upon Thames Primary London Centre £576 m 14
14 Bristol Major City Centre £568 m 13
15 Reading City Centre £554 m 15
16 Newcastle-upon-Tyne Major City Centre £532 m 17
17 Southampton City Centre £497 m 18
18 Cambridge City Centre £493 m 16
19 Cardiff Major City Centre £490 m 19
20 Norwich Major City Centre £490 m 20
21 Croydon Primary London Centre £461 m 21
22 Brighton City Centre £433 m 23
23 Bluewater Shopping Centre Regional Out of Town Shopping Centre £425 m 24
24 Meadowhall Shopping Centre Regional Out of Town Shopping Centre £417 m 22
25 Chelsea Premier Shopping £417 m 28
26 Sheffield City Centre £416 m 26
27 Brent Cross Shopping Centre Regional Out of Town Shopping Centre £413 m 25
28 Belfast Major City Centre £377 m 29
29 Trafford Centre Shopping Centre Regional Out of Town Shopping Centre £374 m 27
30 Aberdeen City Centre £356 m 31
31 Hull City Centre £341 m 30
32 Plymouth Large Town £314 m 32
33 Merry Hill Shopping Centre Regional Out of Town Shopping Centre £297 m 35
34 Oxford Large Town £297 m 33
35 Guildford Large Town £289 m 34
36 Central Milton Keynes Large Town £288 m 37
37 Metro Shopping Centre Regional Out of Town Shopping Centre £279 m 36
38 Regent Street South Premier Shopping £278 m 39
39 Exeter Large Town £265 m 42
40 Derby Large Town £264 m 38
41 Bath City Centre £264 m 40
42 Watford - Hertfordshire Large Town £263 m 41
43 Sutton - Greater London Primary London Centre £258 m 44
44 Maidstone Large Town £255 m 43
45 Crawley Large Town £245 m 46
46 Covent Garden Premier Shopping £240 m 45
47 Bromley Primary London Centre £240 m 48
48 Stoke-upon-Trent Large Town £237 m 51
49 Cribbs Causeway Shopping Centre Regional Out of Town Shopping Centre £231 m 47
50 Peterborough Large Town £231 m 52

**Ranked by annual retail revenue, excluding grocery

Top 10 Luxury Retail Centre**

Rank Centre Number of Stores Luxury Stores as % of all Stores
1 Knightsbridge 220 47.73
2 Chelsea 267 19.1
3 Westfield Shopping Centre - White City 303 18.81
4 Oxford Street 412 16.99
5 Docklands 223 14.35
6 Bluewater Shopping Centre 324 14.2
7 Covent Garden 257 12.06
8 Westfield Stratford City Shopping Centre 235 11.49
9 Guildford 368 11.41
10 Edinburgh 520 10.38

**Includes all centres containing 200 or more stores

Top 10 Value Retail Centres**

Rank Centre Number of Stores Value Stores as % of all Stores
1 Sunderland 220 22.27
2 Newport 205 19.51
3 Bradford 200 19.5
4 Blackpool 314 19.43
5 Romford 224 19.2
6 Wakefield 206 18.93
7 Southport 220 18.64
8 Burton-upon-Trent 224 18.3
9 Huddersfield 266 18.05
10 Doncaster 288 17.71

**Includes all centres containing 200 or more stores

Our UK system is now supplemented by increasing numbers of similar classifications in international markets. We already have an office in Tokyo and have joined forces with the British Embassy to support UK businesses in Japan by becoming a member in their Export to Japan scheme. Earlier this year - in direct response to retailer demand - we also made the decision to establish a permanent presence in Shanghai, China.

Historically companies looking to locate into the Asia-Pac region have been hampered by the shortage of reliable marketing data on which to base a decision on whether to invest or not in any new or developing city; our retail planning systems has enabled a number of major global brands including Cath Kidston, adidas and L'Oreal to expand successfully into the region.

About Callcredit Information Group -

Callcredit Information Group's leading approach to deploying consumer information brings together experts across the fields of credit referencing, marketing services, interactive solutions and consultative analytics to provide clients with a range of innovative and effective products to discover new customers and to engage with current customers to optimise and increase profitability.

Products include award-winning fraud verification tools and database solutions to positively verify consumers, global operations to help expand businesses into new markets, digital solutions to improve the overall journey consumers make during interaction with a brand, customer handling to ensure consumer satisfaction at all levels and consumer marketing data and segmentation to improve understanding and targeting of customers and prospects.

Callcredit also offers products to assess a customer's credit risk and affordability and its experts in collections and recoveries provide tailored debt recovery and tracing tools. The company's market analysis and network planning function helps organisations develop profitable retail networks, and its tools in multi bureau, analytics and metrics work to provide fully assessed bureau data.

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