We have updated our ranking of European towns and cities by retail spend. London’s West End still tops the table and there are no changes in the top six retail centres – which include Paris, Madrid, Rome, Munich and Berlin -‐ but the rankings identify a shift in growing markets and what influences retailers should take into account in tailoring their expansion strategies.
The research finds that global events and volatile economic conditions are impacting significantly on retail hubs, with changes in local consumer spending levels, retail expansions and competing developments also affecting which centres are on the rise or decline.
Jonathan De Mello, Head of Retail Consultancy at Harper Dennis Hobbs (HDH) commented:“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. The rankings are therefore particularly useful for identifying growing markets. 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. These rankings are a crucial insight into Europe’s current retail hierarchy.”
Andrew Bathurst, Director of HDH’s International team commented: “These rankings provide a unique perspective on the changes in the European retail environment in the past year. Harper Dennis Hobbs’ analytical knowledge, and experience of global retail property, has helped to produce a clear representation of Europe’s best centres, which retailers can use to evaluate their portfolios and tailor their expansion strategies in the future.”
The research analyses 15,000 towns and cities across Europe and calculates the flow of spend to each via a ‘gravity model’.
For further information please contact Jonathan De Mello on 020 7462 8703