globe retail outlook data

 

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Retail By Country

United Kingdom

COUNTRY RANK #1

United Kingdom

The UK retail market is mature and extremely competitive, with a broad range of market-leading UK retail brands and more international retailers than any other market globally. Retail space is a mix of high streets, town centre shopping areas, large regional shopping malls and regionally dominant outlet centres. There are also over 1,000 out-of-town retail parks, several of which are regionally dominant. Central London, famed for Oxford Street, Regent Street, Covent Garden, Knightsbridge, Bond Street, Sloane Street, Carnaby Street and the Kings Road, continues to attract international retailers more than any capital city globally. In addition to London leading the way with its diversity of retail, other major centres, such as Birmingham, Cardiff, Edinburgh, Glasgow, Leeds, Liverpool, Manchester and Newcastle and Belfast, continue to grow and attract international and luxury retailers. Over 49 new international retailers entered the UK market in 2017.  Luxury & business fashion was particularly strong, attracting 10 new retailers last year, including Seiko and Paul & Shark, which opened stores in Knightsbridge and Piccadilly respectively. These join the more established brands Gap, Zara, H&M, Abercrombie & Fitch, Anthropologie, Hollister, Urban Outfitters, Victoria’s Secret, Apple, Nike, Adidas and UNIQLO.

 

Despite the uncertainty associated with Britain’s decision to leave the EU, London remains popular among global brands, particularly for those choosing a market for their first European store such as Microsoft who will open in April 2019 in Central London. However, retailers continue to face increased costs during 2018 due to the increase in Business Rates, the National Living Wage and the introduction of an Apprentice Levy. The weakening of Sterling also means that the cost of importing goods from overseas has increased.

In 2018, Total new shopping centre space is expected to reach 2.25m sq ft in 2018, above the long-term average of 1.92 million between 2013 to 2017. Five major developments will contribute to 77% of new shopping centre space in 2018. In Central London demand for units on prime locations will continue. New space created is still dominated by extensions rather than redevelopment with 87% of 2.25m sq ft of new shopping centre space being extensions, the largest at Westfield London.

Our Top Tip For
New Arrivals

Buy an Oystercard and use the tube and bus to get around; it is the safest, quickest and easiest way to see London... but please, stand on the right hand side of the escalator! Leave your raincoat at home. Contrary to popular belief, our weather is regularly dry and bright!

Currency

Great British Pound (GBP)
EUR €1.14
USD $1.4
GBP £1

Language

English
Hello: Hello
Thank you: Thank you

International Dialing Code

+44

Time Zone

GMT

Cost of a Pair of Jeans

90.00 GBP

Cost of a Cup of Coffee

2.60 GBP

Cities in United Kingdom

Contact Us

Rhodri Davies
Henrietta House
Henrietta Place
+44 7850 723 777 | rhodri.davies@cbre.com