Javelin Group’s VENUESCORE confirms London Westfield as the UK’s leading shopping centre.
London, 21 October 2011. Javelin Group, Europe’s leading specialist retail and omni-channel consultancy, has published its annual ranking of leading UK retail venues: VENUESCORE 2011-12.
The report assesses the UK’s leading 2,000+ commercial venues based on the presence of leading retailers and brands trading there, and evaluates these retail destinations across a range of attributes including market position, age focus, tourist orientation, fashionability and foodservice.
VENUESCORE confirms London Westfield as the UK’s leading stand-alone shopping centre, followed by Bluewater, Meadowhall and Trafford centre. London Westfield’s unique tenant line-up also makes it the UK’s most aspirational shopping destination outside London West End.
Although Westfield Stratford City has entered the ranking of standalone shopping malls in only 6th place, it is set to move quickly into the top 3 as the remaining vacant units are let in the run-up to next year’s Olympic Games.
The report identifies 15 “major city” venues in UK retail, led by London West End, Glasgow, Manchester, Birmingham and (now) Liverpool as providing the UK’s most complete retail offers.
The analysis also considers the dominance of key retail centres within their local areas, and identifies Bristol and Sheffield as the two major cities facing the greatest relative competition. Contrast this with the city centres of Hull, Norwich and Southampton which all dominate their local areas.
Within town and city centre venues, VENUESCORE identifies Birmingham city centre as the most “mall-dominated” city centre offer, followed by Cardiff and Aberdeen. London West End and Brighton provide the lowest provision of shopping centre-based retail of the major cities.
The rankings report confirms Glasgow Fort as the UK’s leading retail park venue (followed by Parc Trostre in Wales and Rotherham’s Parkgate / Retail World Shopping Park), whilst Cheshire Oaks retains top spot in the factory outlet centre listings – ahead of Gunwharf Quays in Portsmouth and Bicester Village.
Within the capital, Oxford St/Regent St is now followed by Covent Garden, Knightsbridge and Victoria emerging as central London’s dominant shopping venues. Further afield, Kingston, Croydon and Bromley lead the offer in Outer London.
In terms of market position, Salford, Bootle and Accrington emerge as the UK’s most downmarket shopping destinations, contrasting with Knightsbridge, Bond Street and Bicester Village as the nation’s most aspirational shopping destinations.
Regarding “fashionability”, Camden, Notting Hill and Covent Garden rate as the UK’s most “progressive” fashion destinations thanks to their eclectic retail line-up, with provincial towns such as Melton Mowbray and Beverley at the other end of the spectrum.
For tourists, Covent Garden, Regent Street and Knightsbridge provide the most compelling offers.
One other major trend that the study identifies is the increasing dominance of Foodservice in London’s retail landscape, and it’s likely that other shopping destinations will follow suit in the near future.
VENUESCORE is used extensively by Javelin Group in its work for leading retailers and property investors helping them to maximise the returns achieved from their retail property assets.
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