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UK Retail Parks 2017
, February 14, 2018 ) UK
2017", report offers comprehensive insight and analysis of the UK channel, the major players, the main trends, and consumer attitudes. The retail parks market will outgrow total offline growth over the five years to 2022, rising 13.8%. The increase in space, including new retail park openings and the extension of current parks, will drive growth, as will the changing tenant mix, which will attract new retail park shoppers.
The tenant mix in retail parks is shifting, with a growing focus on fashion and food, moving away from traditional bulky home-related products, broadening the appeal of retail parks.
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Slowed growth in real wages and house prices will mean fewer consumers will move house, impacting footfall to homewares and big ticket retailers.
- Product availability and a broad range of options will drive sales growth. 60.8% of consumers would visit retail parks more frequently if there was a wider choice of product, so one-store or one-sector mission shoppers must be encouraged to browse across stores leisurely.
- 74% of consumers that collected an online order from a retailer at a retail park made an additional purchase when instore. These shoppers must be encouraged to stay instore and browse via exciting and engaging store experiences, while tactically locating collection points will provide opportunities for upselling and allow the retailer to control the customer journey.
Reasons to buy:
- Utilise our five year forecasts to 2022 for the retail parks market and sector penetration to understand the main areas of growth in the sector.
- Identify the key players in the retail parks market using our in-depth analysis of how and why certain sectors are performing in the market to gain strategic insight into this retail format.
- Recognise which consumers are shopping at retail parks, those which are shopping there most frequently as well as the shopper profile of consumers visiting individual sectors in retail parks.
- Utilise analysis of shoppers' motivations and browsing/purchasing behaviour to enable a better understanding of the market moving forward.
It provides in-depth analysis of the following -
- The key issues
- Strategies for success
- What people buy
- Where people shop
- Who people shop with
- Why people shop
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