London and South East prove most recession-proof regions for retailers

  Retail destinations in London and the South East are the most recession-proof in the country, according to a new study by market analyst CACI.   CACI conducted its study by measuring a number of factors, including projected income falls by population type and the subsequent likely changes in demand for particular types of service and product.   Surrey suburbs top the list of the most resilient retail centres with Richmond-upon-Thames, Epsom, Kingston-upon-Thames, Woking and Guildford occupying the top five positions nationwide. In London, Kensington, the Kings Road, Knightsbridge and Westfield London all made the top 20. Outside London and the South East, the most recession-proof centres were Harrogate and Cambridge. Hanley in Staffordshire, home to The Potteries shopping centre, is the most likely to see the biggest falls in expenditure with a projected fall of 11.23% – approximately £42m over 2009. The top 20 least recession-proof centres cover a wide geographical area, from Scarborough, Hull and Grimsby in the north, to King’s Lynn, Plymouth and Hastings further south.   Nielsen Harrap, principal consultant of location planning at CACI said: “Centres in traditionally affluent areas are those better placed to survive the recession.   “People here will have less disposable income than before but will still have money to spend – if not on more expensive items by trading down to cheaper alternatives.   “In harder-pressed areas people are more likely to have very little or no disposable income in the current environment – here spending will not switch from one type of purchase to another, but slow down or stop.”   annabel.dixon@rbi.co.uk