Greenfields no longer shooting up

In the year 2003 the sales of out-of-town retail parks grew by the lowest rate ever in Britain. The sales figures across the board in this sector recorded an increase of just 5.5 per cent. New trading space grew by no more than 4.4 per cent. The UK market researchers Verdict indicate that the less buoyant demand for DIY goods must share responsibility for this state of affairs, even though the DIY sector still remains the fastest growing part of the retail segment overall. B&Q has now replied to the government’s endeavours to locate more retailers in town centres by presenting research that suggests prices at town centre stores would have to rise by 30 per cent in order to remain profitable. To obtain planning consent for new stores, B&Q and other retailers such as Ikea, for example, have adjusted their format by such measures as adding a further storey.