Spotlight: Retail Myths Exploded

Retail Myths Exploded
 
Retail Myth Two

21 September 2015, words by Marie Hickey

New international entrants are not interested in regional centres.

 

Over the last five years new international entrants to the UK have focused their attention purely on London with 119 international brands opening their first ever store in the Capital between 2011 and August 2015.

London’s relatively affluent residents and large number of overseas tourists, particularly high spending visitors, were the major attractions for these new entrants. Few of these looked beyond Greater London for new stores. This is slowly starting to change as economic conditions and spending across the UK start to improve.

 

"Top regional centres for new international entrants have been Brighton and Manchester"

Marie Hickey, Savills Research

Last year four international brands opened their first stores outside London including Sandro and Calzedonia; in 2013 it was only two. By the end of this year we expect to see at least another seven international brands open their first regional stores.

The top regional centres for these new openings have been Brighton and Manchester with three apiece since 2011. These are not huge numbers but it does point to improving confidence in the regional retail markets with many of those who have established their first regional stores now looking to other centres for opportunities.

 

 
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Key Contacts

Marie Hickey

Marie Hickey

Director
Commercial Research

Savills Margaret Street

+44 (0) 20 3320 8288

 

Tom Whittington

Tom Whittington

Director
Retail Research

Savills Manchester

+44 (0) 161 244 7779