London’s West End has been ranked the top centre in the UK to expand into based on potential annual spend from residents, tourists and workers in 2012.
The area, which takes in shopping Meccas Oxford Street and Regent Street, came top in CACI’s Retail Dimensions report. It found that £4.7bn is likely to be spent on non-food items in 2012.
Glasgow came second with Manchester coming in third.
They were followed by Birmingham (4), Liverpool (5), Westfield London (6), Leeds (7), Nottingham (8), Knightsbridge in London (9), and Bluewater (10).
Colchester came last (50) in the rankings.
The report also broke down the data to worker spend and tourist spend (see below).
CACI consulting partner Paul Langston said: “Increasingly, we’re seeing a divergence between the top centres and the rest of the country, and retailers have to make sure they’re in the right place, or face losing out.
“This year, London’s West End stretched out its lead. It has nearly double the spend of any other centres from workers, well over double the spend for tourists and a clear lead over Glasgow, the second placed overall centre by spending.
“There’s also a real disparity in centres’ long term health, with far fewer retail destinations that are likely to thrive over the coming years being based in the north.
“Moreover, the north-west in particular has a shortage of centres that we believe will be top destinations over the next few years, and a high number that could struggle to support non-food spend.”
Top 50 GB Centres
Ranked on total annual comparison spend from residents, tourists and workers. Excluding online spend.
|1||London West End||£4,770|
|9||London - Knightsbridge||£1,150|
|11||Westfield Stratford City||£1,060|
|13||London - Covent Garden||£1,010|
|15||Newcastle upon Tyne||£970|
|20||Kingston upon Thames||£890|
|25||London - Kings Road||£700|
|33||Dudley - Merry Hill||£630|
Top 10 Worker Spend
|1||London - West End||£360|
|2||London - Canary Wharf||£200|
|5||City of London - Cheapside||£110|
|6||City of London - Fenchurch Street||£90|
|7||London – Victoria||£90|
|10||City of London - Broadgate||£60|
Top 10 Tourist Spend
|1||London - West End||£1,750|
|2||London - Knightsbridge||£760|
|3||London - Covent Garden||£510|
|4||London - King’s Road||£400|