CACI: Shopping parks gaining ground on regional malls

The position of best-in-class shopping parks is becoming increasingly comparable to that of regional malls, according to new research from CACI.

Analysis of CACI’s Shopper Missions data has looked at a sample of leading regional malls serving cities outside of London, in comparison to some of the UK’s best performing shopping parks, such as Fosse Park in Leicester and Castlepoint in Bournemouth. These schemes feature a more fashion and lifestyle-focused offer, as opposed to the ‘big box’ style of retail parks.

CACI said the research has found that the shopping parks are no longer defined solely by convenience-led, targeted visits. Instead, they are becoming dynamic destinations where consumers are able to spend time, dine, browse, and socialise.

According to the report, hospitality and socialising are increasingly important to visitors of shopping parks, an indicator of extended and more experience-led trips more akin to those experienced in a larger, covered mall. Of visit purposes, 10% fell into the category of a ‘A Quick Bite’, while a further 20% fell into ‘Leisure & Dining’ and ‘A Day Out’.

Despite this, shopping parks have seemingly continued to perform strongly in their traditional convenience role. Approximately 60% of visits still focused on targeted retail or essentials missions, compared with 48% at regional malls.

CACI said the growing consumer preference for destinations capable of meeting multiple needs within a single trip represents a significant behavioural shift, particularly during a period of economic uncertainty. Shopping parks can benefit from a wide catchment and strong accessibility, two factors that amplify the ‘online halo’ effect associated with store openings – where physical presence drives increased online sales within a surrounding catchment area.

Alex McCulloch, director at CACI, said: “The best shopping parks are no longer the imitators of regional malls. They are becoming genuine multi-purpose destinations where consumers can shop, dine, browse, and spend leisure time. That diversity of mission is incredibly valuable in today’s market, fulfilling several consumer needs in one visit. What’s particularly interesting is that these locations are now operating in the same plane as regional malls, while still retaining the accessibility and convenience that made them successful in the first place. They might not have the same breadth of offer, but shopping parks are no doubt adapting to only become more relevant for tomorrow’s consumer.”