Scale
Edinburgh is Scotland's second retail location by number of
outlets and expenditure. The city has almost 2,600 retail
establishments, with annual expenditure of £900m on goods such as
fashion, furniture and electrical equipment. Across the wider city
region, Stirling, Falkirk and Fort Kinnaird Retail Park to the
south east of Edinburgh also make the top ten retail locations by
expenditure. Glasgow has Scotland's largest number of retail
outlets, at more than 3,300.
Catchment
The catchment area for retailers in Edinburgh City Region is
large and diverse. Edinburgh City Region has a population of 1.3m,
and this is expected to grow by a further 100,000 by 2022. Migrant
workers attracted to the city region's economic success and high
quality of life from Europe and beyond
are adding to the indigenous population. Tourism represents a
further huge retail market, with Edinburgh attracting more
than 2m UK visitors and 1m overseas visitors a year.
Diversity
A diverse mix of UK multiples, niche independents, destination
outlets and seasonal markets gives Edinburgh 's retail scene a
highly distinctive character. In the city centre, the biggest high
street names rub shoulders with a wealth of specialist independents
and a vibrant cluster of restaurants, bars
and cafes. Markets including Edinburgh Farmers' Market,
Christmas and Festival markets add a seasonal twist, while
out-of-town centres offer scale, space and style at locations
across Edinburgh City Region.
Prestige
Edinburgh's international reputation in sectors including
finance, its excellent quality of life and its status as Scotland's
judicial and administrative centre make it an attractive
destination for retailers including prestige brands. The Inspiring
Capital is the most prosperous UK city after London, with earnings
higher than the UK average. The city's new luxury quarter around
Multrees Walk, anchored by Scotland's only Harvey Nichols store and
with luxury names including Armani and Louis Vuitton, is a reflection
of this appeal.
Environment
Dramatic settings such as Edinburgh Castle, the Royal Yacht
Britannia and Stirling Castle make the shopping experience in
Edinburgh City Region hard to forget. In Edinburgh itself, the
'walkability' of the compact city centre, with more than 100,000 on
and off-street car parking spaces, is also a key selling point for
shoppers and retailers alike.
All-year-round events including a packed programme of festivals add
to the unique vibrancy of the Inspiring Capital.
Investment
Sunstantial investment is underway to expand and redevelop a
number of flagship retail sites across Edinburgh City Region. Under
the project name 'String of Pearls',
Princes Street and is undergoing an unprecedented programme of
regeneration to create a string of dynamic interconnected
developments stretching from Calton Hill to Haymarket. At least
£17m has been invested in separate public realm improvements and
redevelopment is also underway at sites including
Caltongate, Edinburgh's
Waterfront, and the St James Centre. Local businesses have set
up the central business improvement district Essential Edinburgh to
invest collectively in improvement projects.
