Table of Contents
Overview
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- What you need to know
- Products covered in this Report
Executive Summary
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- The market
- Consumer sentiment holds up post-Brexit
- Spending goes on leisure above retail
- Shift in living and working situations
- Growth in online
- Companies and brands
- Thai shopping centre opens lifestyle space
- Digitising the high street
- The consumer
- Growth online and in young city shoppers
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- Figure 1: Shopping locations visited/used in the last 6 months, April 2017
- One in five travel over two hours to an outlet village
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- Figure 2: Time spent travelling to shopping locations, April 2017
- A unique assortment drives location choice
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- Figure 3: Factors that would encourage shoppers to visit one shopping location over another, April 2017
- High streets need to shake off outdated image
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- Figure 4: Correspondence Analysis – Words associated with shopping locations, April 2017
- High level of inertia when going shopping
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- Figure 5: Attitudes towards shopping, April 2017
- Online preferred over in-store
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- Figure 6: Browsing preferences, online vs in-store, April 2017
- What we think
Issues and Insights
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- From shopping centres to lifestyle destinations
- The facts
- The implications
- The rush for out-of-town space
- The facts
- The implications
- Simple measures to boost high streets’ image
- The facts
- The implications
The Market – What You Need to Know
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- Consumer sentiment holds up post-Brexit
- Spare money goes on leisure
- Shift in living and working situations
- Growth of discounting
- Impact of online
- A need to differentiate
Market Drivers
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- Consumer sentiment yet to be impacted
- Shop prices on the rise
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- Figure 7: Shop prices percentage change year on year, April 2016-April 2017
- Spare money goes on leisure
- Available space at retail parks falls to new low
- 55-64s the fastest-growing segment
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- Figure 8: Projected percentage change in age groups within the UK population, 2011-16 and 2016-21
- A fifth of homes privately rented
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- Figure 9: Percentage of owner-occupied and rented homes in the UK, 2011-15
- Increase in self-employed workers
- Rising business rates burden retailers
Shopping Locations in Context
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- The retail market by type of retailer
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- Figure 10: Structure of UK retailing (excluding fuel), 2016
- Underlying trends
- A return to the inner cities
- The growth in discounting
- Online
- Sector by sector
- Food retailers
- Clothing and footwear retailers
- Home retailers
- Mixed goods
- Health & beauty
- Non-store retailers
- The retail market by location
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- Figure 11: Retail market structure (inc vat) estimates, 2011/12-2015/16
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- Figure 12: UK retailing: sales estimates, by main channel, 2015/16
- Figure 13: Major store location, sales estimates, by type of retailer, 2011/12-2015/16
- Top 10 shopping centres
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- Figure 14: Top 10 shopping centres in the UK, 2017
- Top 10 factory outlets
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- Figure 15: Top 10 factory outlet centres in the UK, 2017
- Top 10 retail parks
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- Figure 16: Top 10 retail parks in the UK, 2017
Online – Segmentation by Product Category
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- Growth accelerated in 2016
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- Figure 17: Online share of all retail sales, 2007-17
- Pure players account for just above half of all online sales
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- Figure 18: Online sales, by type of retailer, 2016
- Online sales by product
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- Figure 19: Online sales by product (inc Vat), 2014-17
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- Figure 20: Online share of product sales, 2016
- Figure 21: Online sales by product category, 2016
Innovation and Launch Activity
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- ‘Smart street’ to open in London
- ‘Digital high streets’ with interactive touchpoints
- Thai shopping centre opens relaxation space
- Wellness-related pop-up experiences
- Rotating pop-up stores freshen the shopping experience and encourage repeat visits
- The UK’s first full-price and outlet hybrid scheme
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- Figure 22: Princes Quay CGI, 2016
- Hackney Walk hosts workshop series
- Transit-oriented shopping destinations
The Consumer – What You Need to Know
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- More young people shopping in the city
- Increase in online shoppers
- Majority drive to shopping locations
- Shoppers seek a differentiated product offering
- Location holding back outlet village visitor numbers
- Equal split between fast and slow shoppers
- High level of inertia when going shopping
- Both browsing and specific purchases favoured online
Shopping Locations Visited
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- City centres attract more young shoppers
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- Figure 23: Shopping locations visited/used in the last 6 months, April 2017
- Rise in online shopping
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- Figure 24: Shopping locations visited/used in the last 6 months, by age, April 2017
- More women visiting retail parks
- Local high streets favoured in the South East
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- Figure 25: Shopping locations visited/used in the last 6 months, by region, April 2017
- Women shop around more than men
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- Figure 26: Repertoire of shopping locations visited/used in the last 6 months, by gender, April 2017
Travelling to Shopping Locations
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- Mode of transport
- Majority drive to shopping locations
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- Figure 27: Mode of transport used when visiting shopping locations, April 2017
- Declining basket sizes at supermarkets
- Time travelled
- One in five travel over two hours to an outlet village
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- Figure 28: Time spent travelling to shopping locations, April 2017
Factors to Encourage Visits
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- A unique assortment drives location choice
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- Figure 29: Factors that would encourage shoppers to visit one shopping location over another, April 2017
- Tapping into the night-time economy
Associations with Different Location Types
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- Shopping malls to evolve into experience-led venues
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- Figure 30: Correspondence Analysis – Words associated with shopping locations, April 2017
- Opportunity for more nearby outlet villages
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- Figure 31: Words associated with shopping locations among outlet village visitors, April 2017
- High streets need to shake off outdated image
- Retail parks at risk of becoming indistinguishable
- Methodology
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- Figure 32: Words associated with shopping locations, April 2017
Behaviours and Preferences When Shopping
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- Catering for the fast and the not so furious
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- Figure 33: Preference for slow vs speed when shopping, by gender, April 2017
- Shoppers are creatures of habit when it comes to location choice
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- Figure 34: Attitudes towards shopping, April 2017
- Online wins over in-store for browsing
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- Figure 35: Browsing preferences, online vs in-store, April 2017
- Bridging the ‘digital divide’
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- Figure 36: Technology preferences when checking product availability or prices in-store, by age, April 2017
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Consumer research methodology
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