UK. Network Rail has posted a +5.29% increase in retail sales at its managed railway stations for the period between April and June 2017.
The increase compares favourably with British Retail Consortium figures which show average total growth of +2.8% in the wider retail sector over the same period.
“This was the 21st consecutive quarter of sales growth across Network Rail managed stations with the strongest increases in stations that have seen significant recent investment,” Network Rail stated.
London Padding station, which has undergone a £13 million upgrade, heads the rankings with sales up +40%, followed by London Bridge (+15%) and King’s Cross (+14%). Outside of London, Birmingham New Street (+13%) and Manchester Piccadilly (+7%) stations were the best performers.
Network Rail figures indicate that 64 million retail customers – equivalent to almost the entire population of the UK – visited station outlets during the quarter.
Gifts and cards/stationery sales noted increases of almost +53% and +11% respectively. Clothing retailers also saw total sales rise by +33%. Network Rail said the figures indicate that people increasingly view stations as places not just to shop on-the-go but places to go to shop.
Overall, £192.5 million (US$275 million) was spent at Network Rail stations over the three-month period, with like-for-like retail sales also up by +1.91% between April and June.
Network Rail said station investment also led to a rise in overall customer satisfaction from the previous year, with 84% of passengers ‘very satisfied’ or ‘fairly satisfied’ with its managed stations, according to National Rail Passenger Survey figures.
“It’s further evidence of the success, variety and quality of the retail offer at stations across the UK,” Network Rail stated.
Network Rail Commercial Director of Retail Hamish Kiernan commented: “Today’s results show how our ongoing investment in stations is creating places that are destinations in their own right, where people choose to meet, eat, shop and travel.
“Stations like Paddington, King’s Cross and Birmingham New Street have been transformed in recent years and that transformation is leading to better passenger satisfaction and increased sales. Importantly, all profits from our retail activities are reinvested back into the railway.”
“Today’s results show how our ongoing investment in stations is creating places that are destinations in their own right, where people choose to meet, eat, shop and travel”
“We are looking forward to continuing this trend with the full opening of London Bridge in 2018 as we create 92,000sq ft of new retail space that will provide exceptional food, beverage, fashion, beauty and gift options,” Kiernan concluded.
Network Rail said it is committed to continued investment in stations to improve passenger experience. Ongoing and future investments in regeneration and retail enhancement projects include the upgrading of London Bridge and improvements at Euston station.
