Trinity pushes Leeds up the retail rankings

LEEDS has climbed up the national retail rankings to seventh place, thanks to the opening of the Trinity shopping centre earlier this year, according to new figures.

Callcredit Information Group’s 2013 RetailVision report shows that Leeds has overtaken Nottingham to take the seventh spot in the national rankings, fourth outside of London, through generating an estimated £685m of retail revenues from the sale of fashion, homeware/DIY and electrical products.

The RetailVision Report uses data from more than 17,000 retail centres across the UK – including town centres, shopping centres and retail parks to provide a detailed picture of the UK’s retail landscape.

This year the report shows that the UK’s largest retail destinations continue to maintain retail revenues, against a backdrop of increasing competition from online retailers and pro-longed tough trading conditions.

Major retail centres have further cemented their regional dominance and have put more downward pressure on the surrounding smaller towns and local shopping centres across the UK, where revenues have started to see some decline. These smaller retail destinations will have to work hard to stimulate footfall and establish their identity to attract shoppers.

Chris Duley, director at Callcredit’s GMAP retail planning team, said: “Trinity has been the standout development during 2013 and has already had a positive impact on the retail revenues of Leeds. Our latest retail reports highlights the opportunities and challenges faced by retail centres up and down the UK. Successful national and international retailers are continuing to extend their store footprint but the wider retail environment needs to be right to attract shoppers. The big centres can offer this; the question is can the smaller centres offer this too.”

He added: “In the current difficult economic climate we believe that RetailVision’s comprehensive and multi-dimensional approach can help retailers, brands, property companies and town/shopping centre managers alike in identifying and implementing the right location strategies, and thus helping them derive maximum returns from their bricks and mortar investment.”