UK supermalls retail spend will rise 7% out to 2023 as money is diverted away from “lacklustre and often neglected town centres”, according to GlobalData. Supermalls are able to offer the best offline alternative to online shopping in terms of product and retailer range, it adds.
Emily Salter, Retail Analyst for GlobalData comments: “Clothing and footwear drives the bulk of spend at supermalls, accounting for 59.1% in 2018, and retailer investment will ensure this continues as a number of players open and refurbish stores in supermalls, such as Primark’s recent opening in Bluewater. Primark is the most visited clothing retailer in supermalls – 30.2% of visitors browsed a store – as its discount credentials appeal to a wide range of shoppers, and it continues to expand its presence in such locations, becoming a new type of anchor retailer.”
The wide range of retailers, leisure and food services drives the destination appeal of supermalls and means that such locations will be better protected from store closures than town centres. Salter concludes: “They hold the most appeal for younger consumers, as more 16-24 year olds have visited them in the past 12 months than any other age group. The retailer selection is well suited to young shoppers, as supermalls are often dominated by mass market clothing and footwear retailers, such as H&M and Zara.”
“To remain appealing to this demographic, it is essential that the retail and leisure offer is frequently refreshed with new and exciting brands. Pop-up shops and flexible food service options, like street food style eateries, can be valuable mechanisms to offer continual variety and maintain appeal as a social destination.”
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