UK retail centres suffer revenue loss

Tuesday, 27 March 2012
A report on the UK retail landscape has revealed London and Manchesterare the largest UK retail centres, but revenue has fallen across thecountry at nearly all major retail centres.The 2012 RetailVision Report compiled by Callcredit shows that out ofthe top 10 retail centres, only Knightsbridge saw a rise in revenuecompared to last year.

The report, based on new calculations and additional research, also reveals the new Westfield Stratford City shopping centre came into seventh place in the table, despite opening only six months ago.Birmingham surpassed Glasgow to take third place, while Leeds has overtaken both Liverpool and Edinburgh to take eighth place.

The RetailVision Report provides the UK's most detailed market analysis of shopper catchments and retail centre revenues across the UK. It covers 17,107 retail centres - an increase of 848 centres compared to last year - classified across 25 centre types.

Nine of the top 10 'luxury' retail centres are 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 10.

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. As a result of the enhancements we have made to RetailVision, we can now provide - with pinpoint accuracy - data and insight to enable retailers to make informed business decisions and capture market share."

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