United Kingdom (UK) Retail Parks Market Size, Trends, Categories, Consumer Attitudes and Key Players to 2027
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UK Retail Parks Market Overview
The UK retail park market size was GBP 50.62 billion in 2022. The market is expected to grow at a CAGR of more than 2% during 2022-2027. The retail market will grow significantly during the forecast period driven by the online channel. Hence, to compete with online shopping, retail parks must improve the range of sectors available, making it a convenient location for consumers to do all their shopping.
UK Retail Park Market Outlook, 2022-2027 (GBP Billion)
Buy the Full Report for More Insights into the UK Retail Park Market Forecast
The United Kingdom (UK) retail park market research report offers comprehensive insight and analysis of the UK retail parks, the key retailers, and consumer attitudes. It provides an in-depth analysis of the market size and forecasts, sector performance and forecasts, retailer usage across different sectors, and consumer data.
Market Size (2022) | GBP 50.62 billion |
CAGR (2022-2027) | >2% |
Historical Period | 2017-2022 |
Forecast Period | 2023-2027 |
Key Sectors | · Food & Grocery
· Clothing & Footwear · Health & Beauty · Electricals · Homewares · Furniture & Floorcoverings · DIY & Gardening |
Key Retailers | · Marks & Spencer
· Currys · Sports Direct · Primark · Boots · Dunelm · Smyths Toys · The Works · Tesco |
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UK Retail Park Market Trends
- Due to economic decline, customers preferred discounters and retailers with a strong value offer, making them very popular. In retail parks, value retailers have been thriving, benefiting from free parking and ease of travel. As a result, many consumers take advantage of these benefits and buy in bulk. This is aided by the concentration of discounters covering many sectors within retail parks, allowing consumers to easily shop around for the best deal.
- In retail parks, retailers can have better flexibility, enabling them to display more of their proposition and making it easier for consumers to find what they need in-store. Big-box units cater best to retailers that have broad coverage of many sectors. Hence, retailers are increasingly opting to seek space in retail parks as they find the larger floorspace appealing.
UK Retail Park Market Segmentation by Sectors
Discounter expansions boosts food & grocery spending in retail parks
The key sectors in the UK retail parks market are food & grocery, health & beauty, clothing & footwear, DIY & gardening, homewares, furniture & floorcoverings, and electricals, among others. Food & grocery was the strongest sector in the retail parks market in 2022 and will experience the highest growth rate during the forecast period.
UK Retail Park Market Analysis by Sectors, 2022 (%)
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UK Retail Park Market - Competitive Landscape
Some of the leading retailers in the UK retail parks are:
- Marks & Spencer
- Currys
- Sports Direct
- Primark
- Boots
- Dunelm
- Smyths Toys
- The Works
- Tesco
UK Retail Park Market Analysis by Retailers, 2023
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Segments Covered in the Report
UK Retail Park Sectors Outlook (Value, GBP Billion, 2017-2027)
- Food & Grocery
- Clothing & Footwear
- Health & Beauty
- Electricals
- Homewares
- Furniture & Floorcoverings
- DIY & Gardening
Scope
– The sector mix in retail parks is expected to change drastically in 2020 due to the impacts of COVID-19 that leads to the outperformance of food & grocery, DIY & gardening and homewares.
– 32.3% of consumers said that they have visited retail parks at least once a week since March, compared to 27.4% in the 12 months before March, with consumers turning to the location for their shopping, attracted by a safer experience than that in town centres and supermalls.
– Food & grocery is the most shopped sector at retail parks, with 67.9% and 65.8% of visitors browsing and purchasing respectively, with the grocers consistently in the top 10 retailers visited across all sectors.
Key Highlights
- Value players are expected to maintain their dominance in retail parks as consumers flock to this location to make savings by buying in bulk during their visits.
- Leisure must work in tandem with retail to drive growth in this location.
- Home and electrical sectors thrive in retail parks as they benefit from the big-box format.
Reasons to Buy
- Identify the key retailers used by consumers to purchase products across various sectors.
- Understand the key drivers behind consumers visiting retail parks and the services used in this location.
- Use our in-depth analysis of the challenges faced by the retail parks market, and what existing retailers must to do keep consumers visiting this location.
- View our forecasts for retail parks up to 2027, including which sectors are expected to prosper in the next five years.
Amazon
Argos
ASDA
B&M
B&Q
Boots
Card Factory
Carpetright
Clarks
Currys
Dunelm
GAME
H&M
Hobbycraft
Home Bargains
Homebase
Iceland
JD Sports
Lidl
Local garden centre
Marks & Spencer
Matalan
Morrisons
New Look
Next
Poundland
Primark
Sainsbury's
Shein
Smyths Toys
Sports Direct
Superdrug
Tesco
The Range
The Works
TK Maxx
Wickes
Wilko
Table of Contents
Table
Figures
Frequently asked questions
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What was the UK retail park market size in 2022?
The UK retail park market size was GBP 50.62 billion in 2022.
-
What is the UK retail park market growth rate?
The retail park market in the UK is expected to grow at a CAGR of more than 2% during 2022-2027.
-
Which was the leading sector in the UK retail park market in 2022?
Food & grocery was the leading sector in the UK retail park market in 2022.
-
Who are the leading retailers in the UK retail park market in 2022?
Some of the leading retailers in the UK retail park market are Marks & Spencer, Currys, Sports Direct, Primark, Boots, Dunelm, Smyths Toys, The Works, and Tesco.
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