Spending on food, beverages, groceries and other retail items at Scotland's two busiest train stations soared in the first quarter of this year, leading the way in the portfolio of properties managed by Network Rail Property.
Like-for-like sales at Glasgow Central increased by a hefty 32%, supported by the refurbishment of the station's WH Smith unit. Edinburgh Waverley also enjoyed a strong performance, with sales up by 17%.
Network Rail is currently bolstering the retail experience at Glasgow Central by creating a wider choice of brands within the station. Edinburgh Waverley is 100% let and additional opportunities are being explored to increase the retail mix.
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The average increase of 23% in Scotland compares to growth of 11% across the portfolio run by Network Rail Property, the commercial division of the organisation in charge of all of Network Rail's land and property assets. It manages 19 of some of the UK's biggest and busiest stations such as Manchester Piccadilly, Birmingham New Street, London Waterloo and London Paddington.
Total retail sales across all 19 stations hit £199.6 million during the quarter, an increase of 10% compared to the same period four years earlier, representing growth of £18.2m on pre-pandemic levels. For the year as a whole to the end of March, Network Rail’s retail sales surpassed £842m and were 2% ahead of the pre-pandemic period.
Meanwhile, Great British Railways Transition Team (GBRTT) figures show that more than 405 million journeys were made in the first three months of 2024, generating rail passenger revenues in excess of £2.58 billion.
Hamish Kiernan, commercial director of property at Network Rail, said the performance has been driven by efforts to diversify the station experience with the introduction of 30 new brands across the portfolio. He added that the income generated through retail, food and beverage sales is "key" to Network Rail’s wider reinvestment into the railways.
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“We’re highly encouraged by our retail sales figures across our managed Scottish stations for [the first three months of 2024]," he said.
"As we continue to invest in our stations through transforming our retail space, it’s also great to see brands invest. Welcoming new businesses and store formats ensures both our customers and communities benefit from an attractive mix of retail and F&B.”
The 11% growth in the first quarter compares to a more subdued rise of 2% across the broader retail sector, as reported by the British Retail Consortium.
Latest figures released this morning by the Scottish Retail Consortium (SRC) show that footfall across the country's shops was "feeble" last month with Scots prioritising "experiences, eating out and holidays" over shopping trips.
The number of visitors to Scottish shops fell 2.3% in July compared to the same period last year, disappointing retailers who had been hoping for a "shopper dividend" on the back of an improving economic picture.
READ MORE: Shopping centre trips down 12% on same time last year, data suggests
The figures from the SRC-Sensormatic IQ footfall monitor show that only Edinburgh bucked the downward trend, with the capital recording a 1.4% increase in footfall compared with July 2023.
Glasgow, on the other hand, saw a 4.8% decline in shoppers, a marked contrast to its June performance which saw its shopper count rise by 2.2% compared with June 2023.
"This weakness was felt across all retail destinations compared with the month before," SRC director David Lonsdale said.
"That said, store visits in Edinburgh remained a little above the levels of 12 months ago. Shopping centres also continued to outperform the Scottish average for the third month in a row.
"These feeble footfall results will be a disappointment for retailers who had been hoping for a shopper dividend from the combination of falling shop price inflation, cuts in employee national insurance contributions and council tax freeze, and the rosier outlook for household disposable incomes."
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