Westfield tops UK's best performing shopping centre, says report

Westfield London is the UK's top shopping centre according to a report by GlobalData. In second place is Westfield Stratford City, also in London, and Bluewater shopping centre in Kent takes the third sport in the Top 50 UK Shopping Centres Report 2018

The figures were compiled by a combination of consumer and B2B research, with the report providing a 360 degree view on the UK’s leading shopping centres, underpinned by data from landlords, property experts and, most importantly, shoppers themselves.

Joseph Robinson, Retail Consulting Director at GlobalData, comments, ‘‘The top three shopping centres are located in London and the South East , but geographically the top 20 rankings paints a picture of excellent shopping centre provision across the UK.’’

Shoppers spend 17,4 billion pounds per year in the top 50 shopping centres

The top 50 UK shopping centres account for 17.4 billion pounds in shopper spending per year – almost 5 percent of total UK shopper spend on non-food retail, food service and leisure, reflecting the continued importance of these locations to UK retail.

Alongside traditional metrics such as turnover and footfall, the new rankings also take into account future potential, provision of retail, food service and leisure facilities and, crucially, the views of the shoppers who have visited them.

‘‘Our research found that, in spite of the diverse range of experiences offered by the modern shopping centre, retail is still the most important consideration for shoppers with the two most sought after retailers in shopping centres being Boots and Primark," Robinson stated.

‘‘In a sign of the times, shoppers were also increasingly likely to be attracted by the presence of value retailers, such as B&M and Primark, as well as premium options such as Selfridges and Ted Baker when choosing where to shop.’’

Justin Taylor, Head of EMEA Retail, at Cushman & Wakefield, concluded, “This insightful new report illustrates the ongoing demand for the best physical locations by measuring key drivers of shopping centre performance, including retailer and shopper sentiment. Whilst there are challenges in the retail sector, retailers still want to be in the best physical locations with the highest footfall and shoppers want one-stop destinations that caters for their retail and leisure needs. This report shows how the UK’s top shopping centres continue to offer an unrivalled experience with landlords constantly innovating to ensure their locations stay one step ahead.”

Photo credit: Westfield London shopping area in London Borough of Hammersmith and Fulham, source: Wikimedia Commons