Albany, US, 2017-Oct-13 — /EPR Network/ — Market Research Hub (MRH) has included a new research report titled “The UK Supermalls Market 2017 – 2022”, provides top-line qualitative and quantitative summary information including: market size (value and volume 2012-16, and forecast to 2021). The report offers comprehensive insight and analysis of the channel, including forecasts to 2022, the major players, the key trends and consumer attitudes.
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As consumers have little interest in visiting lackluster town centers, the overall proposition of supermalls – the mix of retail, food service and leisure options – makes them a much more attractive destination for both shopping and socializing. Consequently, the UK supermalls market is forecast to grow by 7.2% over the next five years.
Supermalls continue to develop their proposition, including a more comprehensive leisure offer to appeal to a wider audience and meet consumer demand and expectations. Many of these supermalls have leisure-led extensions in development or in the pipeline e.g. intu Lakeside, which is enhancing its proposition with a 175,000 sq. ft. leisure extension anchored by a Nickelodeon entertainment center.
Though supermalls appeal to a broad range of shoppers, landlords must emphasize their advantages and incentivize consumers to visit more frequently as more than two thirds of shoppers visit just once every three months or less. Supermalls must reward loyal shoppers to drive visits but they must also focus on customer acquisition – particularly among DE shoppers who under-index in terms of supermalls penetration. Though landlords are paying close attention to the leisure offer in supermalls, they must ensure they continue to review the retailer mix as the retailers in supermalls are the main footfall driver.
The report provides in-depth analysis of the following:
– The hot issues impacting the market (including the growing importance of the leisure offer, retailers creating more destination stores, the possibility of longstanding anchor retailers being usurped by fashion players, supermalls need to promote the seamless shopper journey)
– Strategies for success
– Market and sector sizes and forecasts
– Profiles of the top three most visited supermalls
– Drive time to the top 10 supermalls
– Retailer market shares
– Consumer data
– Future outlook.
Though sectors such as jewelry are performing well in supermalls, clothing & footwear is the dominant sector, with spend on this sector forecast to grow 7.3% to 2022, accounting for 57.4% of all supermalls retail sales by 2022.
Despite this, anchor retailers are increasingly relying on beauty halls to drive footfall and beauty brands are investing in their own stores in these locations. Therefore, health & beauty – the second largest sector in supermalls – is forecast to be the fastest growing sector in the market, growing 14.5% to 2022.
Though supermalls attract a broad spectrum of shoppers due to the wide range of retailer and products available and the leisure options, 22.6% of supermall visitors are aged 16-24 – the highest of any age group. This is unsurprising considering fashion retailers such as Zara, H&M and Primark are heavily investing in creating flagship and destination stores in these locations and are providing an enjoyable shopping experience alongside an attractive product offer. These retailers stand to gain the most share in supermalls as these value fashion players continue to grow their presence and appeal to a wider range of consumers.
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Reasons to buy:
– Understand the opportunities in the market, as both a supermall landlord and retailer, through our analysis of key issues in the market and the drivers which are aiding growth as well as the factors which are hindering further growth.
– Utilize our market sizing and forecasts for the key sectors in the supermalls channel to comprehend the impact of the increasing presence of health & beauty retailers and the shift to leisure in supermalls.
– Identify which retailers are growing their presence in the supermalls channel and what they are doing to drive share, to identify what this means for your brand and how you will be impacted.
– Use our consumer data to understand who is shopping at supermalls, what is driving visits to these locations as well as what different consumers value in the channel, such as the importance of the shopping experience, the range of retailers and products as well as the leisure facilities available.
Table of Content:
The hot issues
What people buy
Where people shop
Who people shop with
How and why people shop
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