Cambridge jumps six places to take the top spot this year as the UK’s most vibrant retail centre, according to the latest Harper Dennis Hobbs Vitality Index.
The research, which measures the “retail health” of locations across the UK, highlighting areas successful brands should target when considering network expansion, ranks Britain’s most and least attractive retail centres, based on vacancy rates, numbers of “undesirable” shops such as pawnbrokers and betting agents, and how well the store mix suits local needs.
Last year’s healthiest retail centre, Westfield London, came second in this year’s report, followed by Knightsbridge in third place. 17 of the top 50 most vibrant retail centres were found to be located in the capital, including Chelsea, Bluewater, Wimbledon Village, Richmond and Canary Wharf.
The least desirable retail locations were found to be Shields Road, Byker, Newcastle-upon-Tyne; Harrow Road, Paddington, London; and Stretford, Greater Manchester.
According to the Vitality Index report, quality brands had gravitated towards fewer very strong shopping locations; while nationwide there has been a 2.7 per cent increase over the past five years in “value” stores, including charity shops.
At Beavis Morgan, our specialist advisers to the retail sector understand that, in this competitive environment, retail business owners must work hard to win customer loyalty, adapt to the ever-changing customer demands, increase productivity and strengthen their market position.
We work with a number of retail businesses, helping them with strategic planning, business turnaround and improving business performance for the future.
For further information about how we can help you and your retail business, contact Steve Govey or your usual Beavis Morgan Partner.