A retail park is a type of shopping centre found on the fringes of most large towns and cities in the United Kingdom and other European countries. They form a key aspect of European retail geographies, alongside indoor shopping centres, standalone stores like hypermarkets and more traditional high streets.
Cushman & Wakefield define a retail park as any shopping centre with mostly retail warehouse units, of a size 5,000 square metres (54,000 sq ft) or larger. [1] [2]
Retail parks have a number of retailers in a single location, but as opposed to an indoor centre, there is no roof, and they are therefore not weatherproof. [3]
Retail parks originate from out of town retail location containing big box retailers which are not suited to pedestrianised high streets, such as garden centres, home stores supermarkets. [3]
More recently, many high street retailers have moved to retail parks, since retail parks offer cheaper rents and cheaper parking for customers. For example, in the UK, Marks and Spencer and Next have closed or downsized many high streets stores and moved them to retail parks. [4]
Retail parks generally are located in highly accessible locations and are aimed at households owning a car, though there are often also bus services. They are an alternative to city centre shopping districts. Such developments have been encouraged by cheaper, more affordable land on the outskirts of towns and cities, and with loose planning controls in a number of Enterprise Zones, making planning and development very easy. [5] There are over 1,500 retail parks across the UK. [3]
Retail parks normally have large car parks (parking lots) and are not designed for people to browse, but instead for more direct shopping trips. This has meant retail parks have faced economic competition from Internet retail, since they have not historically offered the same experience factor as town centre retail. [3] Vacancy rates in shopping centres in the UK are almost twice those of retail parks. [6]
Town planning policies which favour retail park development pose a threat to high streets as customers are deterred from high street stores. [7] However, most retail parks are the result of lack of planning rather than pro-car policies; car-centric urban planning such as retail parks are 'the unwitting result of a set of planning rules'. [8]
Opponents of retail parks argue that retail parks 'do not make sense' because of the ongoing climate crisis. [9] However, retail parks are likely to benefit from climate change. An article in Nature found that, due to anthropogenic climate change, catastrophic rain and floods will happen more frequently and with greater severity. During periods of heavy rain, retail parks in the UK see an increase in customer footfall. [10]
Typically, retail parks host a range of chain stores, including furniture, clothes or footwear superstores, electrical stores, carpet and others – and the anchor tenant is usually a supermarket. Owing to their out-of-town sites, abundance of free parking and proximity to major roads, retail parks are often easier to reach than central shopping areas, and as a result, town centres are less attractive to retailers. [11]
Retail parks have been growing in Continental Europe: according to Cushman & Wakefield, who defines a retail park as an open-air centre with more than 5,000 sq. m. of retail space, total retail space in retail parks in Europe was predicted to be around 40 million sq. m. at the end of 2017. The amount of floor space in retail parks increased by 836,000 square meters in 2015, and 1.3 million square metres in 2016. France accounted for 54% of the new retail space in Western Europe, followed by Britain at 17% and Italy at 10%. At 70,000 sq. m., the "Steel" retail park in Saint-Étienne, France was cited as the largest planned project at that time. [1] [2]
In the U.S., "retail park" is neither the common nor industry term. A shopping centre that in Europe is considered a retail park might fall into one of several categories in North American industry terms: [12]
Shopping is an activity in which a customer browses the available goods or services presented by one or more retailers with the potential intent to purchase a suitable selection of them. A typology of shopper types has been developed by scholars which identifies one group of shoppers as recreational shoppers, that is, those who enjoy shopping and view it as a leisure activity.
A shopping mall is a large indoor shopping center, usually anchored by department stores. The term mall originally meant a pedestrian promenade with shops along it, but in the late 1960s, it began to be used as a generic term for the large enclosed shopping centers that were becoming increasingly commonplace. In the United Kingdom and other countries, shopping malls may be called shopping centers.
A shopping center, shopping centre, also called a shopping complex, shopping arcade, shopping plaza or galleria, is a group of shops built together, sometimes under one roof.
A strip mall, strip center, strip plaza or simply plaza is a type of shopping center common in North America and Australia where the stores are arranged in a row, with a footpath in front. Strip malls are typically developed as a unit and have large parking lots in front. Many of them face major traffic arterials and tend to be self-contained with few pedestrian connections to surrounding neighborhoods. Smaller strip malls may be called mini-malls, while larger ones may be called power centers or big box centers. In 2013, The New York Times reported that the United States had 65,840 strip malls. In 2020, The Wall Street Journal wrote that in the United States, despite the continuing retail apocalypse starting around 2010, investments and visitor numbers were increasing to strip malls.
Yorkdale Shopping Centre, Yorkdale Mall, or simply Yorkdale, is a major retail shopping centre in Toronto, Ontario, Canada. Located at the southwest corner of the interchange between Highway 401 and Allen Road, it opened in 1964 as the largest enclosed shopping mall in the world. Yorkdale is currently the third largest shopping mall in Canada by floor space and has the highest sales per unit area of any mall in Canada, with current merchandise sales levels at roughly CA$1,905 per square foot. At 18 million annual visitors, it is one of the country's busiest malls. Many international retailers have ventured the Canadian market initially at Yorkdale.
The Oracle is a large indoor shopping and leisure mall on the banks of the River Kennet in Reading, Berkshire, England. Partly on the site of a 17th-century workhouse of the same name, it was developed and is owned by a joint venture of Hammerson and the Abu Dhabi Investment Authority.
A big-box store is a physically large retail establishment, usually part of a chain of stores. The term sometimes also refers, by extension, to the company that operates the store. The term "big-box" references the typical appearance of buildings occupied by such stores.
Dundrum Town Centre is a shopping centre located in Dundrum, Dublin, Ireland. It is one of Ireland's two largest shopping centres with over 131 shops, 47 restaurants, 3 amusement facilities and a cinema, retail floor space of 111,484 m2 (1,200,000 sq ft) and almost 140,000 m2 (1,500,000 sq ft) total floor space, and over 3,000 car parking spaces. It is located just south of the centre of the suburban village of Dundrum, within the wider eponymous area. It has annual footfall in excess of 18 million.
A dead mall, also known as a ghost mall, zombie mall or abandoned mall, is a shopping mall with low consumer traffic level or is deteriorating in some manner.
Swansea city centre in Swansea, Wales, contains the main shopping, leisure and nightlife district in Swansea. The city centre covers much of the Castle ward including the area around Oxford Street, Castle Square, and the Quadrant Shopping Centre; Alexandra Road, High Street, Wind Street and the Castle; Parc Tawe; and the Maritime Quarter extending down to the seafront.
In US retail, an "anchor tenant", sometimes called an "anchor store", "draw tenant", or "key tenant", is a considerably larger tenant in a shopping mall, often a department store or retail chain. They are typically located at the ends of malls, sometimes in the middle. With their broad appeal, they are intended to attract a significant cross-section of the shopping public to the center. They are often offered steep discounts on rent in exchange for signing long-term leases in order to provide steady cash flows for the mall owners. Some examples of anchor stores in the United States are: Macy's, Sears, JCPenney, Nordstrom, Neiman Marcus, Saks Fifth Avenue, Dillard's, Kohl's, and Target. And in Canada; Hudson's Bay, Sears (formerly), Target (formerly), Zellers, Nordstrom/Nordstrom Rack (formerly), TJX Companies, Saks Fifth Avenue, Sporting Life.
The Streets of Tanasbourne is an outdoor shopping mall located in the Tanasbourne area of Hillsboro in the U.S. state of Oregon. Opened in October 2004, the center provides shopping to the Hillsboro/Beaverton area west of Portland, near the Sunset Highway. The $55 million center is an open-air complex designed to mimic older downtown shopping districts and has 55 store locations.
Meadowood Mall is a one-level, 901,357-square-foot (83,738.8 m2) super-regional mall in Reno, Nevada, managed by Simon Property Group, which owns 50% of it. Meadowood Mall contains 125 retailers and restaurants and it is anchored by Macy's Women, Macy's Men/Home, JCPenney, and Dick's Sporting Goods.
The Range is a multi-channel retailer selling products in the home, garden, and leisure categories, with over 210 stores in the United Kingdom and Ireland.
Broadway Shopping Centre is the principal covered shopping centre in the town centre of Bexleyheath and is the largest single covered shopping facility in the London Borough of Bexley.
Mink Mile is an upscale shopping district in the neighbourhood of Yorkville in Toronto, Ontario, Canada, along Bloor Street between Yonge Street and Avenue Road.
A power center or big-box center is a shopping center with typically 250,000 to 600,000 square feet of gross leasable area that usually contains three or more big box anchor tenants and various smaller retailers, where the anchors occupy 75–90% of the total area.
A neighborhood shopping center is an industry term in the United States for a shopping center with 30,000 to 125,000 square feet of gross leasable area, typically anchored by a supermarket and/or large drugstore.
The retail format influences the consumer's store choice and addresses the consumer's expectations. At its most basic level, a retail format is a simple marketplace, that is; a location where goods and services are exchanged. In some parts of the world, the retail sector is still dominated by small family-run stores, but large retail chains are increasingly dominating the sector, because they can exert considerable buying power and pass on the savings in the form of lower prices. Many of these large retail chains also produce their own private labels which compete alongside manufacturer brands. Considerable consolidation of retail stores has changed the retail landscape, transferring power away from wholesalers and into the hands of the large retail chains.
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