F&B and leisure outlets attract one in 10 visits to malls
About 50% of those people visiting primarily for F&B or leisure go on to spend on retail.
One in 10 malls visits are driven by F&B or leisure outlets, representing 7% of visits to all retail destinations, according to a study by CACI.
Significantly for retail brands and owners of retail destinations, 50% of those people visiting primarily for F&B or leisure go on to spend on retail. This is said to highlight the value of F&B-orientated consumer missions.
In addition, anyone that spends on F&B during a visit has a 48% higher retail spend during their trip as compared to visitors who just shop.
The report also revealed differences in consumer behaviour across the UK. In the North West, for example, the number of F&B or leisure-led visitors that go on to spend on retail increases to 62%.
In contrast, the figure in London dropped to 34% due to the level of competition in the capital. Smaller towns and cities, such as Warrington, Hereford, Bath and Fareham, have a 54% retail conversion rate from F&B missions, whilst core cities like Liverpool, Birmingham, Manchester, Glasgow and Leeds show a conversion rate of 49%.
The report noted that such figures reflect the increased choices available to consumers in cities.
“[T]his latest research reveals there is a clear need for bricks and mortar locations. Crucially, however, destinations must be proactively managed, with a creative approach taken to providing a relevant, engaging and evolving experience for consumers to enjoy, whatever their original motivation for visiting. As our research reveals, get it right and the outlook is encouragingly positive,” said John Platt, director of CACI Property Consulting Group.
