In BNP Paribas Real Estate, we often pay attention to retail and, especially, e-commerce. We are interested in the impact it has on various segments of the real estate market, including retail itself. A recent report from the UK, which concentrates on shopping centres, perfectly fits in this formula. There are many which are growing quite comfortably, even in these times of online shopping.
GlobalData quite recently released a study entitled “Top 50 UK Shopping Centres Report 2018“. It is the first of its kind to take into account the demands of tenants and customers. It is based data from owners, real estate experts and, especially, from the buyers themselves.
The most successful shopping centre on the list is Westfield London in Shepherd’s Bush, followed by Westfield Stratford City, also based in London. Bluewater in Kent was third.
However, successful shopping centres are not only prevalent in affluent London and South East England. This is evidenced by the location of centre in places such as Manchester, Liverpool, Wales and Scotland. The study also highlighted the best shopping centre operators in Britain. The INTU company has the highest amount in the TOP 20, with eight in total.
In addition to traditional indicators such as sales and attendance, the list also factored in future potential, what the shops offer, catering and leisure use in the centres. Above all, it concentrated mainly on the opinion of buyers who visit the centres.
The study has shown that, although modern shopping malls offer more and more fun and leisure time activities, shops are still the most important aspect for customers. "Most popular are Boots and Primark," said Joseph Robinson from GlobalData. Premium brands such as Selfridges and Ted Baker are also a magnet for people.
Food and drink are a reason to visit a shopping centre for 26.3 percent of buyers, and leisure activities for 15.7 percent of them. More than 80 percent of customers have actually used these services during their visit.
Costa Coffee and McDonalds are among the most popular with British food consumers, despite the fact that shopping centres have significantly expanded their catering variety over the past decade.
Less than a third of respondents visit a shopping centre twice a month or more, while younger customers (18-24 years) go to shopping centres even more frequently. Good accessibility is important for more than half of buyers.
Customers spend $ 17.4 billion a year in the UK's 50 most successful centres. You can find out more about the UK retail market here.
