Shoppers making less trips but spend more
The National Survey of Local Shopping Patterns (NSLSP), by property consultants CBRE, found that UK consumers are increasingly travelling beyond local destinations to larger cities or out-of-town retail parks.
At a time when the retail industry in the UK is under the spotlight and retail expert Mary Portas is due to present her Government-commissioned report on ways to halt the decline of the high street, the NSLSP research provides insight into growth trends over the past decade in more than 12,000 shopping destinations.
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James Fox, associate director of retail agency at CBRE’s Leeds office, said: “These findings signal positive news for Yorkshire where there is a multitude of retail development both currently underway and in the pipeline.
“In Leeds alone, approximately one million sq ft of new retail and leisure space is currently being developed by Land Securities to form the Trinity Leeds scheme and Hammerson’s Eastgate Quarters scheme is set to deliver further retail accommodation within the city centre.
“The new developments will undoubtedly enhance the city’s retail offering and while retail is changing with shoppers making less trips to seek a greater mix of retailers, Leeds can capitalise on this by providing a broad range of retail outlets in close proximity to one another.”
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Hide AdHe added: “Looking elsewhere in the region, in Wakefield, Trinity Walk has let more than 90 per cent of its 50 new retail units and Westfield Bradford has already secured pre-lets.
“Overall, the region is well placed to attract shoppers.”