Home / Knowledge / News / Retailers: the space race
Retailers: the space race
13
Feb '08
UK retailing faces one of its toughest ever years as the sector attempts to come to terms with a dangerous cocktail of intense competition, space saturation, consumer apathy and slowing spend.

According to research from Verdict Consulting, a specialist division of Verdict Research the coincidence of these trends will mean that on a like-for-like basis, retail spend will contract in 2008 causing a significant number of causalities. Neil Saunders, Consulting Director, explains.

Over the past ten years the economic environment has been benign and its impact on retail has been positive. Even so, the retail sector has become increasingly competitive. In large part this has been due to the expansion of retail space which has given consumers more choice in where to shop and has spread consumer spend more thinly between a greater number of retailers and shopping locations.

Since 1998, net of closures, an additional 49m square feet of retail space has come into play. Although this is a substantial amount – the equivalent of well over 1,600 average sized Tesco supermarkets – solid growth rates for consumer spending made such growth economically viable.

However, going into 2008, the amount of retail space due to open shows no sign of abating despite the fact that retail spending is set to slow dramatically. Over 2008, an additional 9m square feet of space (net of closures) will open. While this new space is likely to trade well, it will do so to thedetriment of existing retail space. When the growth of the internet is taken into account, the amount of spend available for existing retail space will actually contract.

Click here to read more details:

Verdict Research


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search