Newport has been ranked among the UK’s High Value Store Towns, according to figures released by the Callcredit Information Group.
Sunderland tops the rankings with the highest percentage of discount stores in the UK, with over a fifth of all stores (22.27%) belonging to the âvalueâ category.
Newport came in second, with 19.51% of all stores classified as value stores, while Bradford (19.5%) came in third.
The RetailVision report uses data from over 17,000 shopping centers across the UK – including town centers, shopping centers and shopping parks to provide a detailed picture of the UK shopping landscape.
This year, the report reveals that the UK’s largest retail destinations continue to maintain retail revenues, amid increasing competition from online retailers and prolonged difficult business conditions.
Robert Twigg, commercial real estate partner at Newport law firm Everett Tomlin Lloyd & Pratt, said: As has happened here in Newport, it tends to pull mainstreet life because buyers who have maybe also visited small stores while shopping in bigger ones, no longer come downtown.
âAt the same time, the recession has seen shoppers with less real income to spend looking to save money on their weekly store.
âSo there has been a marked growth in the number of discount retailers, keen to meet this demand, appearing on the main street.
âJust this week, Poundland announced its intention to go public with the aim of raising up to Â£ 300million to fund another significant expansion in the number of its stores.
âAt the same time, owners, wishing to avoid liability for commercial tariffs on empty premises, are increasingly willing to rent stores to charities.
âSo there is a demand for value shops and charity shops and it is better to see them on the main street than empty boarded up shops.
âThe opening of the new Admiral Insurance office in downtown Newport will hopefully see an influx of office workers with money to spend at local lunchtime stores, bars and restaurants. and after work.
âIn addition, if the proposed development of Friars Walk goes through, we will see the opening of Debenhams and Next and Top Shop return to the city center, as well as the opening of a cinema and a number of new restaurants. .
“I hope this will give the necessary confidence to other retailers to open stores to do business alongside value stores and charity stores.”
Chris Duley, Director of Callcredit’s GMAP Retail Planning Team, said: âSuccessful domestic and international retailers continue to expand their in-store footprint, but the broader retail environment must be adapted to attract buyers. “