Retailers Increase Store Count By 5000 Since 2009

UK store count for convenience, value and discount retailers is on increase by more than 5000 since 2009 as the consumer focus more on affordability and convenience.

Recently published statics from Retail Revolutions: The Rise of the Community Shopping Centre report, by real estate firm Savills and shopping centre investor Ellandi, revealed that value retail has accounted for 87% of all store growth in the UK during that time.

The report said since 2009 there is an increase in convenience with more than 1600 stores. 65% consumers cited convenience as the primary reason for visiting a community shopping centre, with grocery purchases with 46% of all trips, followed by 20% on household, fashion, discount and health & beauty products visiting such centres and 13% for gifts and cards.

A key attraction for 20% of shoppers is the range of value and discounts available at community shopping centre.

“Convenience and value retail have merged and evolved to encompass much more than groceries, as highlighted by the wide range of goods purchased on trips to community shopping centres,” Savills research director Tom Whittington said.

“The value fashion sector has seen particular growth and now accounts for 55% and 65% of all retail brands in secondary and community shopping centres respectively.”

Savills’ head of shopping centre investment Mark Garmon-Jones said tenant profitability was “absolutely key” to sustainable shopping centres.

“While sales densities in secondary locations do not tend to reach the levels achieved in their more premium counterparts, the favourable rents and other costs can compensate for this and lead to strong profit margins,” he said.

“In turn, robust occupational performance provides income security for investors and therefore makes the right shopping centres with these fundamentals very appealing.”

The report also confirms the importance of community shopping centres increased in retail sector with 78% of shoppers visiting once a week and 92% are visiting for at least once a month.

The figures contrast that only 15% of shoppers visit weekly for large shopping centres and 44% visit less than twice a year.

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