Glasgow holds best retail pitch in Scotland
The area surrounding Buchanan Street and Argyle Street in Glasgow has been confirmed as the most desired retail pitch in Scotland, according to research conducted by retail planning experts Callcredit Information Group.
Following on from the RetailVision 2014 Report, Callcredit have undertaken in-depth analysis of Scotland’s retail landscape, looking at the top urban centres, the top retail destinations, as well as where the concentrations of premium* and value stores** are located.
The analysis confirmed Glasgow, Edinburgh and Aberdeen are the three leading urban retail destinations in Scotland, which stand 4th, 9th and 27th in the full UK rankings.
Key Findings of Research:
- Braehead Shopping Centre, Silverburn Shopping Centre and Fort Kinnaird Shopping Park are the top three destination retail centres in Scotland
- Edinburgh, Glasgow and Silverburn Shopping Centre hold the highest percentage of premium stores – however the area around Argyle Street/St Enoch Square in Glasgow is the top location for value shopping in Scotland
- The top value store destinations are Greenock and Aye, with 23.5 per cent and 16 percent of all stores falling into this category
Chris Duley, Commercial Director at Callcredit commented “Our latest RetailVision Report has already alluded to the fact that mass market retailers are feeling the squeeze as the increase of both value and premium stores intensifies, our additional research has found this to be particularly true in Scotland where there is a higher proportion of these stores present on the Scottish high street than anywhere else in the UK.
“There has been much speculation about the growth of out of town shopping centres and the effects these are having on Scottish high streets; we’ve found revenue rates per outlet in Scotland are lower than the UK average, though the shop vacancy rate for Scotland is in line with the UK average. Out of town shopping centres do continue to be popular, however it’s worth nothing that while Braehead Shopping Centre tops the rankings, it generates less than a quarter of the revenue of the UK’s biggest shopping centres.
“Overall, Scotland is the sixth largest region for fashion, homeware & electrical goods in the UK and contributes 8% of the UK’s total revenue for these items”
*Premium Store is defined as above average price; tend to focus on quality and prestige over price (e.g – upmarket fashion brands)
**Value Store is defined as those stores below average price (e.g - pound shops, charity shops, fast food chains)