Jewellery shines in UK shopping centres
According to the study by international real estate advisor Savills, the category saw a sales increase of 12% in the period with a rise of 7.2% over the last 12 months.
Other categories showing strong sales growth in the first quarter included sporting goods at 5%, food and beverages at 4.7%, and childrenswear and value retail, both at 2.7%.
Categories showing the biggest declines over the same period were music, books, games and DVDs, where sales declined by 8.2%, and pawnbrokers, department stores, and grocery stores where sales fell by 7.7%, 6.7% and 5.7% respectively.
After jewellery, sporting goods enjoyed the highest growth at 7% over the past 12 months, followed by accessories at 5.9%. Despite a poor first quarter, the music, books, games and DVD category showed 3.2% growth over the year which Savills attributed to the recent re-birth of vinyl sales.
Meanwhile, electrical sales declined by 13.1% over the 12 month period followed by homewares with a decline of 9.4%. Childrenswear sales dropped by 5.1% despite a strong first quarter performance.
Stephen Toal, head of property management research at Savills, said: “The growth of jewellery shows that consumers are still willing to pay for higher value items where good range and service are provided – this is evidenced by the likes of H Samuel and Ernest Jones recently reporting their biggest like-for-like sales increase in 13 years.
“However, despite inflation being at 0% and shop prices falling in general, this has not triggered significant sales growth across all sectors. This may be down to consumers becoming more considered in their purchasing and/or putting money aside in expectation of future rate rises.”
Email this article to a friend
You need to be logged in to use this feature.
Please log in here