Nottingham makes top 30 European retail rankings
Nottingham has remained in the top 30 when it comes to the most popular location in Europe by retail spend, according to a new report.
The rankings, published by Retail Week, show that Nottingham attracted just over £3bn of retail spend in 2016, ahead of Turin, Athens, Prague, Naples, Brussels and Edinburgh.
Nottingham is the only East Midlands city in the top 50.
The Harper Dennis Hobbs’ European Retail Rankings show London contines to dominate, having attracted £9.1bn, ahead of Paris (£8.1bn) and Madrid £5.1bn.
The UK has ten cities in the top 50 – more than any other European country. Despite this, Harper Dennis Hobbs said that discussion on any Brexit deal could have “a wide-ranging impact on European retail”, which could result in some retailers “limiting their exposure to the UK.”
Harper Dennis Hobbs head of retail consultancy, Jonathan De Mello, said: “These rankings take into account both retail sales growth and new retail development, allowing retailers to comprehensively understand which centres are on the rise and plan accordingly.
“While the level of consumer spend coming to a city is a key factor in its success, other elements, such as out-of‐town developments, can significantly impact the performance of a centre.”
