Retail Locations Series: UK Town Centres Market 2023-2028

Retail Locations Series: UK Town Centres Market 2023-2028

Summary

The UK Town Centres Market 2023-2028 report offers comprehensive insight and analysis of UK Town Centres (including forecasts up to 2028), the key retailers, and consumer attitudes. It provides in-depth analysis of the following: the market size and forecasts, sector performance and forecasts, retailer usage across different sectors, and consumer data. The report focuses on seven key sectors: clothing & footwear, electricals, furniture & floorcoverings, health & beauty, homewares, DIY & gardening and other. Consumer data is based on our 2024 UK How Britain Shops survey, using a panel of 9,000 nationally representative consumers.

The UK town centres market experienced significant growth in 2023, with a 5.9% increase to reach £119,860m. Inflation in the UK food & grocery sector

propelled this performance, accounting for 41.0% of the town centre market this year. We forecast the town centres market will grow slower to 2028, with a

projected five-year CAGR of 1.4% compared to 2.4% for town centres.

Scope

• The food & grocery sector within town centres is expected to grow at a CAGR of 1.9% between 2023 and 2028.
• 58% of town centre shoppers cited town centres being easy to travel to as an essential driver influencing their decision to visit.
• The utilisation of services, including leisure facilities and food services, has witnessed a notable increase in recent years and is projected to continue growing.

Reasons to Buy

• Identify the key retailers used by consumers to purchase products across various sectors.
• Understand the key drivers behind consumers visiting town centres, and the services used in this location.
• Use our in-depth analysis of the challenges faced by the town centres market, and what existing retailers must to do keep consumers visiting this location.
• View our forecasts for town centres up to 2028, including which sectors are expected to prosper in the next five years.