United Kingdom (UK) Town Centres Market Analysis by Sectors, Revenue Share, Consumer Attitudes, Key Players and Forecast to 2027

United Kingdom (UK) Town Centres Market Analysis by Sectors, Revenue Share, Consumer Attitudes, Key Players and Forecast to 2027

Summary

The UK Town Centres Market 2022-2027 report offers comprehensive insight and analysis of UK Town Centres (including forecasts up to 2027), 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 7 key sectors: clothing & footwear, electricals, furniture & floorcoverings, health & beauty, homewares, and other. Consumer data is based on our 2023 UK How Britain Shops survey, using a panel of 10,000 nationally representative consumers.

The UK town centres market’s prospects were hindered by the pandemic, with the value of this location declining by 12.7% in 2020, due to all retailers viewed as ‘non-essential’ being forced to close stores temporarily. However, the UK Town Centres market had been in decline since before the pandemic, with the market diminishing in size between 2017 and 2019. The Town Centres market is now recovering, having grown by 10.9% in 2022, and reaching a market value of £102.8bn. market has been boosted by recovering footfall and demand.

Scope

• Value players located in Town Centres are expected to have outperformed as consumers switched away to save money during the cost-of-living crisis.
• The cost-of-living crisis has led to a reduction in consumer spending on non-essential products, ensuring a greater proportion of sales in Town Centres are attributed to the food & grocery sector.
• Primark performed well in 2023, ranking as the top retailer used by town centre shoppers for clothing, footwear and fashion accessories.

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 2027, including which sectors are expected to prosper in the next five years.