While the UK high street has been in gradual decline over the last few years, the trend appears to be reversing as consumers use town or city centres more for comparison shopping and as local collection points for online orders. The growth of online is changing the way people shop and is impacting visits to physical stores both in town and out of town.
The economic downturn had a big impact on out-of-town shopping, having led to diminished interest in purchases for the home, especially home improvements, durables and furnishings, which are key drivers of sales for retail parks. Usage of retail parks appears to have picked up since the recession and the latest research shows that over four fifths of consumers have shopped at a retail park in the last 12 months.
As consumers can now find everything online, it means that their motivations for choosing where to shop are shifting. People are less likely to be influenced by factors such as choice and price and more by other factors such as dining, leisure and socialising.
Definition
This is an issue-based report, which will discuss: the trends currently affecting usage of different shopping locations in-town and out-of-town (high street, local parade of shops, shopping centres, retail parks and designer outlets); what people associate with different locations; what would encourage them to shop there more; and changes in the frequency of where they shop.
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Value figures throughout this report are at retail selling prices (rsp) unless otherwise stated.
