There is an ongoing argument that Manchester has replaced Birmingham as the England’s second city behind London, and a new report today suggests that in retail terms only the capital beats it.
How the strength of one community is judged compared to another is often highly subjective, but Callcredit Marketing Solutions’ 2011 Retail Vision Report shows that the north-west city is second only to the capital’s Oxford Street when it comes to retail revenue from comparative goods.
The study indicates that whereas Oxford Street generated revenue of £1.62 billion in 2010, Manchester recorded sales worth £921.1 million.
Last year Glasgow held second spot, but dropped down after reporting revenues of £916.1 million during the 12-month period.
Manchester boasts major shopping hubs such as the Trafford Centre and Arndale Centre, with the later attracting over 30 million visitors a year alone, while Glasgow has established itself as one of Britain’s top retail destinations with its Braehead and Silverburn centres now hosting more than 200 stores between them.
Birmingham, the recent subject of a Retail Gazette City Focus report which revealed that there is lots of new retail development in the pipeline for city in the coming years, was fourth in the table with £861.3 million.
The report also found that Knightsbridge in London moved up two places to sixth and Edinburgh jumped three spots to eighth but Leicester fell four rungs to tenth.
In terms of the presence of premium stores, Manchester, London’s Oxford Street and Birmingham occupied the top three spots respectively, while Norwich, Blackpool and Liverpool were the cities with the highest number of value retail stores.
Chris Duley, Director of Callcredit Marketing Solutions, commented: “As there have been few major retail developments in the last year or two, it is interesting to see so much movement in the top ten UK retail centres.
“Choosing the right location is now more important than ever for retailers to ensure they capture market share.”