Edinburgh is Scotland's second retail
location by number of outlets (2,565) and consumer expenditure
(£920m).
In 2010, the Inspiring Capital was ranked the UK's 15th largest
retail destination in terms of market potential and the second
largest in Scotland by the CACI Retail
Footprint, which tracks consumer shopping
behaviour.
The city region has a distinctive retail
offer characterised by a diverse mix of UK multiples, strong
medium-sized firms, niche independents and a growing farmers'
market sector. Substantial investment is
underway to expand and redevelop a number of flagship retail sites
across Edinburgh City Region, including Princes Street and the St
James Centre.
Retailing employs 56,000 people
across the city region and generates
around £760m for the local economy.
Stirling, Falkirk and Fort Kinnaird Retail Park to the south
east of Edinburgh also make Scotland's top ten retail locations
with expenditure of between £180m and £190m a year.
Recent additions to the City Centre retail offer include Urban
Outfitters, Mango and CANCOM .
Other retailers in
the capital include Marks &
Spencer, Carphone
Warehouse, House of
Fraser, John
Lewis, Next, USC, Schuh,
H&M and Scotland's only Harvey
Nichols.
In the report
Main Streets Across the World 2010, from Cushman &
Wakefield, looking at average rents on retail streets around the
world average annual rents on Princes Street in June 2010 were £190
per sq ft - down 9.5% on June 2009.
The report also indicated that prime
city centre retail rents in Edinburgh are significantly below those
in Birmingham, Leeds, Glasgow, Manchester, Newcastle and all
parts of London.
