United Kingdom (UK) Town Centres Market Analysis by Sectors, Revenue Share, Consumer Attitudes, Key Players and Forecast to 2027
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UK Town Centres Market Overview
The UK town centres market size was GBP 102.8 billion in 2022. The market is expected to grow at a CAGR of more than 2% during 2022-2027. Retail sales in town centres are expected to grow at a slower rate than total retail sales in the UK over the forecast period, as e-commerce becomes more buoyant up to 2027. However, retailers can appeal to shoppers who want to shop offline by maintaining a wide range of products and keeping prices low enough to compete with their online rivals.
UK Town Centres Market Outlook, 2022-2027 (GBP Billion)
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The United Kingdom (UK) town centres market research report offers comprehensive insight and analysis of the UK town centres, 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 102.8 billion |
CAGR (2022-2027) | >2% |
Historical Period | 2017-2022 |
Forecast Period | 2023-2027 |
Key Sectors | · Clothing & Footwear
· Health & Beauty · Electricals · Homewares · Food & Grocery · Furniture & Floorcoverings · DIY & Gardening |
Key Retailers | · Primark
· Currys · Sports Direct · TK Maxx · Boots · Tesco · Pandora · The Works · The Entertainer |
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UK Town Centres Market Trends
- The government and retailers have made efforts to rejuvenate town centres and bring back shoppers through several initiatives that encourage retailers to open stores in prime locations. Rejuvenating town centres to attract consumers helps small businesses with subsidized rent.
- Consumers stated that it was important for them to have an enjoyable shopping experience when visiting town centres. To encourage them back into physical stores, many retailers have adapted retail units to be visually appealing and interactive for consumers. This can range from offering exclusive services such as in-store one-on-one personal training to unique store layouts and designs.
UK Town Centres Market Segmentation by Sectors
The cost-of-living crisis boosts food & grocery spending in town centres.
The key sectors in the UK town centres 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 town centres market in 2022 and experienced the highest growth rate during the forecast period.
UK Town Centres Market Analysis by Sectors, 2022 (%)
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UK Town Centres Market - Competitive Landscape
Some of the leading retailers in the UK town centres are:
- Primark
- Currys
- Sports Direct
- TK Maxx
- Boots
- Tesco
- Pandora
- The Works
- The Entertainer
UK Town Centres Market Analysis by Retailers, 2023
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Segments Covered in the Report
UK Town Centres Sectors Outlook (Value, GBP Billion, 2017-2027)
- Clothing & Footwear
- Health & Beauty
- Electricals
- Homewares
- Food & Grocery
- Furniture & Floorcoverings
- DIY & Gardening
Scope
– As clothing & footwear players focus on right-sizing their store portfolios, town centres will be the hardest hit locations with declining spend being further impacted over the next five years.
– Despite having fewer UK stores in comparison to Marks & Spencer and New Look, Primark was the most visited retailer in town centres for clothing.
– Although food service options are often visited in town centres, other leisure services are less prevalent as town centre visits are likely to be shorter and convenience-driven.
Key Highlights
- 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.
- 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 these locations.
- 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.
Amazon
Apple
Arcadia
Argos
Boots
Charity Super.mkt
Claire's Accessories
Clarks
Currys
Debenhams
DFS
Dyson
Ernest Jones
F.Hinds
Flying Tiger Copenhagen
Footlocker
GAME
Goldsmiths
Gymshark
H Samuel
H&M
HMV
Holland & Barrett
Home Bargains
Homesense
JD Sports
John Lewis & Partners
Kick Game
Lego
Lululemon
Lush
Mamas & Papas
Marks & Spencer
Natuzzi
New Look
Next
Nike
Pandora
Poundland
Primark
ProCook
Ralph Lauren
River Island
Ryman
Savers
Schuh
Selfridges
Sephora
Smyths Toys
Sports Direct
Superdrug
Swarovski
The Body Shop
The Entertainer
The Fragrance Shop
The Perfume Shop
The Range
The Works
Tiffany and Co
TK Maxx
Trinny London
Warren James
Wilko
Zara
Zara Home
Table of Contents
Table
Figures
Frequently asked questions
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What was the UK town centres market size in 2022?
The UK town centres market size was GBP 102.8 billion in 2022.
-
What is the UK town centres market growth rate?
The town centres 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 town centres market in 2022?
Food & grocery was the leading sector in the UK town centres market in 2022.
-
Who are the leading retailers in the UK town centres market in 2022?
Some of the leading retailers in the UK town centres market are Primark, Currys, Sports Direct, TK Maxx, Boots, Tesco, Pandora, The Works, and The Entertainer.
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