Saturday, February 16, 2019

UK high streets continue to evolve as consumers change their shopping habits


Mass market retailers are feeling the squeeze on UK high streets as the increased presence of retailers at both the ‘value‘ and ‘premium‘ end of the brand spectrum intensifies, according to the latest RetailVision Report unveiled today by Callcredit Information Group.

The growth of pound shops, charity shops, fast food chains and other convenience stores such as betting and coffee shops are visibly changing the high street, leaving traditional high street stores with a challenging environment.

The home of the value store is steadily broadening its footprint and expanding into larger towns where they‘re becoming a regular feature on local high streets, alongside “pop-up” shops where smaller retailers are taking advantage of short-term lets.

The report highlights that over 20 Towns in the UK have a ‘value store‘ presence of more than 20%, with these stores making up more than 25% of all stores in Barnsley, Woolwich, Birkenhead and Nuneaton– putting these locations top in the ‘value stores‘ ranking.

The change in consumer attitudes is reflected in the leading supermarkets Tesco, Morrisons and Sainsbury‘s all reporting a fall in revenues, as brands such as Aldi and Lidl continue to attract consumers by offering good quality and value for money.

At the other end of the spectrum, whilst selected Premier Shopping venues in London, factory outlets and large out of town shopping centres have the highest penetration of premium stores, RetailVision does highlight premium “hot spots” across the UK, including Edinburgh, Manchester, Glasgow, Guildford, Cambridge and Harrogate all in the Top 25 Retail Centres based on premium brand presence.

RetailVision‘s brand segmentation also includes Food and Beverage (F&B) brands, an increasing feature of many new retail developments and an increasing presence on many high streets, but again potentially emphasising the polarisation of the brand offer across UK towns, and across venues with UK cities.

Chris Duley, Commercial Director – GMAP said “UK high streets and shopping venues are evolving as consumer behaviours and retail experiences change. The growth of click-and-collect, the broadening consumer appeal of both value and premium brands, shifting grocery shopping habits and the continued expansion of food and beverage outlets have all contributed to this shift”