United Kingdom (UK) Town Centres Market Analysis by Sectors, Revenue Share, Consumer Attitudes, Key Players and Forecast to 2028
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United Kingdom (UK) Town Centers Market Report Overview
The United Kingdom (UK) town centers market size was GBP119.86 billion in 2023. The market will yield a CAGR of more than 1% during 2023-2028. The UK town centers market was the fastest-growing offline location in 2023.
UK Town Centers Market Outlook 2023-2028 (GBP Billion)
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The UK town centers market 2023-2028 report offers comprehensive insight and analysis of the market, the key retailers, and consumer attitudes. It provides an 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 key leading sectors.
| Market Size (2023) | GBP119.86 Billion |
| CAGR (2023-2028) | >1% |
| Key Sectors | · Food & Grocery
· Health & Beauty · Other markets · Homewares · DIY & Gardening |
| Leading Players | · Marks & Spencer
· Primark · Currys · Next · H&M |
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UK Town Centers Market Trends
Town hubs are anchored by supermarkets, making them a destination for food & grocery, meaning that convenience store formats increasingly appeal as consumers seek easy on-the-go options. As work and leisure habits have changed, with more consumers commuting to work which results in less time to visit large store format supermarkets. This leads consumers to frequent visits to convenience stores for intermediary shops during the week. Furthermore, this trend contributes to the town center market in the UK.
The Labour government intends to improve UK town centers through reforms. Though many of these changes are yet to occur, they could revitalize town centers. The reforms are meant to augment retailer diversity and improve consumer safety and the overall shopping experience in town centers. With some consumers stating that they would visit town centers more often if they had a more attractive shopping environment these reforms may bolster town center footfall and dwell time.
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UK Town Centers Market Segmentation by Sectors
The key categories in the UK town centers market are food & grocery, health & beauty, other markets, homewares, and DIY & gardening, among others. In 2023, the food & grocery sector accounted for the highest market share. The sector drove growth in this location. Given the high proportion of food & grocery retailers in town centers, the high inflation plaguing the sector in 2022 and 2023 helped to drive this uplift.
UK Town Centers Market Analysis by Sectors, 2023 (%)
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UK Town Centers Market – Competitive Landscape
A few of the leading retailers in the UK town centers market are:
- Marks & Spencer
- Primark
- Currys
- Next
- H&M
The primary reason consumers prefer to visit town centers is accessibility, with more than 57% of town center shoppers citing them as being easy to travel to as a crucial driver influencing their decision to visit. Unlike supermalls or retail parks located further away from residential areas, they are far easier to travel to. This accessibility is particularly valued by the older demographics.
UK Town Centers Market Analysis by Retailers, 2024 (%)
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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.
Key Highlights
- Value players located in town centers 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 centers.
- Primark performed well in 2023 ranking as the top retailer used by town center 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 centers and the services used in this location.
- Use our in-depth analysis of the challenges faced by the town centers market, and what existing retailers must to do keep consumers visiting this location.
- View our forecasts for town centers up to 2028, including which sectors are expected to prosper in the next five years.
Apple
Argos
ASDA
B&M
Boots
Card Factory
Clintons
Currys
Decathlon
Dunelm
EE
Go Outdoors
H&M
H. Samuel
Halfords
Home Bargains
Iceland
JD Sports
John Lewis & Partners
Lidl
Marks & Spencer
Morrisons
New Look
Next
Nike
O2
Pandora
Pets at Home
Poundland
Primark
Sainsbury's
Savers
Selfridges
Sports Direct
Superdrug
Swarovski
Taco Bell
Tesco
The Entertainer
The Range
The Works
Tiffany & Co.
TK Maxx
Warren James
Wendy's
WH Smith
Wingstop
Zara
Table of Contents
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Frequently asked questions
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What was the UK town centers market size in 2023?
The UK town centers market size in 2023 was GBP119.86 billion.
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What will the UK retail park market growth rate be during 2023-2028?
The UK town centers market will witness a CAGR of more than 1% during 2023-2028.
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Which sector accounted for the highest UK town centers market share in 2023?
In 2023, the food & grocery sector accounted for the highest UK town centers market share.
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Which are the leading retailers in the UK town centers market?
A few of the leading retailers in the UK town centers market are Marks & Spencer, Primark, Currys, Next, and H&M.
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