venuescore ireland 2016 · 2020-01-08 · following the success of venuescore uk, which was first...
TRANSCRIPT
JAVELIN GROUP EXECUTIVE SUMMARY
VENUESCORE IRELAND 2016Shopping Venue Rankings
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 02 | CONTENTS
Contents
1 Introduction 03
2 Methodology 05
3 Findings 10
Location Grades 10
Top Shopping Venues 11
Top Shopping Centres 12
Top Retail Parks 13
Malls vs. High Streets 14
Market Position 16
Fashion Position 18
Age Position 19
Tourist Venues 20
Internationalisation 21
Regional Analysis 22
Foodservice Orientation 24
Order VENUESCORE Ireland 2016 25
About Javelin Group 27
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Following the success of VENUESCORE UK, which was first created over a decade ago, Javelin Group has now launched VENUESCORE Ireland 2016 in response to a resurging interest in the Irish retail property market.
VENUESCORE Ireland provides retailers, developers, owners and brands with an up-to-date, straightforward tool for understanding some of the key differences between shopping venues across the Republic of Ireland such as scale of offer, market positioning, fashionability and age positioning.
VENUESCORE Ireland is one of a series of proprietary location insight datasets created by Javelin Group to help clients (such as retailers, brands, local authorities, private equity, shopping centre owners and investors) to understand the full potential of their retail property assets and to shape these in response to the structural changes that are delivering a seismic shift to Ireland’s retail landscape.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 03 | CHAPTER ONE | INTRODUCTION
VENUESCORE Ireland is Javelin Group’s ranking of Ireland’s 700+ leading retail venues (including town centres, stand-alone malls, retail warehouse parks and factory outlet centres).
INTRODUCTION 1
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
VENUESCORE Ireland is a really valuable tool that has helped us quickly understand the hierarchy and profile of Ireland’s shopping venues. With this understanding, along with Javelin Group’s extensive knowledge of the Irish retail market, we (PIMCO) are now able to investigate with far greater confidence which regions, cities and specific shopping venues to focus our investment attention on.Tristan de Souza, VP, Commercial Real Estate – EMEA, PIMCO
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 04 | CHAPTER ONE | INTRODUCTION
For retailers and brands trading nationally, and across a range of different location types, the development of an effective “shape of chain” strategy requires the segmentation of the store estate so that the performance of outlets trading in venues of similar retail status can be better understood, and potential new store opportunities can be benchmarked in this context.
For shopping centre developers and investors, an understanding of the retail hierarchy in an area, overlaid with consumer spending dynamics, helps to highlight opportunities for new development and/or tenant requirements for existing schemes.
For private equity investors, a clear vision of Ireland’s retail landscape can help evaluate the deliverability of roll-out plans and store performance assumptions presented as part of investment theses.
For local authorities, a clear understanding of the hierarchy of retail venues within the area can help to determine trends in multiple occupancy, establish strategic priorities for future investment and provide the core input for area benchmarking studies and capacity assessments.
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 05 | CHAPTER TWO | METHODOLOGY
VENUESCORE Ireland 2016 is a dataset comprising more than 400 individual multiple retailer fascias trading nationwide in January 2016 from more than 4,000 stores (using raw data supplied by Eircode).
The retail offer of each shopping venue in Ireland is evaluated using a straightforward and transparent scoring system reflecting its relative consumer appeal.
Retailer Scoring
VENUESCORE Ireland 2016 evaluates each venue in terms of its provision of multiple retailers – including anchor stores, fashion operators, and non-fashion multiples.
The sectors covered include Foodservice, which in recent years has become increasingly integrated in helping to define and differentiate successful retail offers, as well as all comparison and convenience-based product sectors.
2METHODOLOGY
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 06 | CHAPTER TWO | METHODOLOGY
The score attached to each operator is weighted to reflect its overall impact on shopping patterns. For example, anchor stores such as Brown Thomas, Marks & Spencer, Arnotts, Penneys and Dunnes, receive a higher score than other unit stores reflecting their greater importance in influencing decisions about where to go shopping for comparison goods. The resulting aggregate score for each venue is called its VENUESCORE.
Source: Javelin Group (VENUESCORE Ireland 2016)
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Classification Illustrative example retailers VENUESCORE
Premier Department Store Brown Thomas 30
Domestic Department Store Arnotts 20
Premier Variety Stores Marks & Spencer 15
Department Store Chains Debenhams 10
Supermarkets Tesco 8
Variety Stores Dunnes 8
Local Anchors Penneys 6
Destination Speciality Next, Woodie’s DIY, B&Q 3
Clothing Destination TK Maxx, Abercrombie & Fitch 3
Multiple Clothing Retailers New Look, River Island 2
Leisure Goods Destination Eason, HMV 2
Other Multiple Retailers Awear, Monsoon, Dealz 1
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 07 | CHAPTER TWO | METHODOLOGY
Venue Definitions
The physical area that defines each retail venue uses a common-sense approach which describes the retail offer as one venue where there is a concentration of stores that shoppers would consider as part of the same “walkable” shopping offer. To illustrate:
• Example 1: In central Dublin, the retail venues have been split into North and South Central Dublin divided by the River Liffey. Despite their close proximity, the North and South are distinct retail venues because (a) the retail offer is not continuous from one area to the other and (b) shoppers will generally shop in one area or the other as part of one shopping trip, but where they shop both they might generally travel from one to the other either by car or public transport.
• Example 2: In Killarney, the town centre offer (including Scotts Garden Shopping Centre) and Killarney Factory Outlet is allocated to the same retail venue (Killarney, Centre) – although it is then also possible to assess Killarney Factory Outlet as a distinct zone within the Killarney, Centre venue.
Venues are defined using a common-sense approach, which describes the retail offer as a single venue where there is a concentration of stores that shoppers consider part of the same walkable shopping offer.
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Venue Scoring
The VENUESCORE for each location is created by combining the retailer scoring matrix (described on page 6) with the venue’s area definition, and therefore reflects the presence and importance of the multiple retailers trading in each venue.
The resulting VENUESCORE rankings generally correlate closely with the actual market sizes of these shopping venues (in terms of consumer spending). However, there are some notable exceptions. For example, the mega-malls such as Blanchardstown, Dundrum and Liffey Valley will tend to generate spending levels that are well in excess of their relative VENUESCORE.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 08 | CHAPTER TWO | METHODOLOGY
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Venue Attributes
In addition to its VENUESCORE, each location is assessed in terms of a range of other attributes, including:
• Market positioning (Is the offer aspirational or down-market?)
• Age focus (Is the offer targeting younger or older consumers?)
• Fashion focus (How dominant is the venue’s clothing offer?)
• Fashionability of its offer (Is the clothing offer traditional or progressive?)
• Foodservice bias (How strong is the food and beverage offer?)
• Anchor strength (How much of the overall score for each venue is delivered by major anchors (department stores, variety stores, supermarkets etc.))
• Shopping centre vs. high street dominance (Is there a powerful mall offer?)
These characteristics are described below in the Findings section (page 10).
In the data tables that support VENUESCORE Ireland 2016, venues are ranked as follows:
• National ranking
• Alphabetical ranking
• Rankings by region
• Rankings by county
• MALLSCORE – separate rankings for purpose-built shopping centres, retail parks, outlet centres and transport hubs in Ireland
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 09 | CHAPTER TWO | METHODOLOGY
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 10 | CHAPTER THREE | FINDINGS
Location Grades
VENUESCORE Ireland establishes eight principal grades of town centre/mall retail venue in Ireland for town centres and malls, ranging from the three Major City locations such as Dublin (North and South city centre) and Cork city centre through to 700+ “Local” shopping venues such as Ballymun and Youghal.
The leading 30 venues (i.e. Major City, Major Regional and Regional grades) represent just under half of the nation’s total combined VENUESCORE. These larger venues capture an even greater share of consumer spending than is indicated purely based on VENUESCORE.
VENUESCORE Ireland establishes eight principal grades of retail venue in Ireland, ranging from Major City to Local status retail offers.
Source: Javelin Group (VENUESCORE Ireland 2016)
The following pages summarise key findings from the data analysis of VENUESCORE Ireland 2016.
FINDINGS 3
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Location grade Illustrative example venues
VENUESCORE range # of Locations Cumulative #
Major City Dublin to Cork 210+ 3 3
Major Regional Dundrum to Athlone 100-209 10 13
Regional Letterkenny to Bray 50-99 17 30
Sub-Regional Clonmel to Monaghan 40-49 10 40
Major District Ashbourne to Ballinasloe 30-39 11 51
District Finglas to Abbeyfeale 10-29 93 144
Minor District Carrickmacross to Ballyfermot 4-9 101 245
Local Ballymun to Youghal 1-4 481 726
Top Shopping Venues Dublin is Ireland’s highest scoring venue in terms of the scale of its retail offer, with a collective VENUESCORE of 489 (North and South). Cork ranks second place behind Dublin with a VENUESCORE of 219. Merchant’s Quay Shopping Centre, Savoy Shopping Centre, Patrick Street and Princes Street are just a few of the shopping areas which make up Cork’s retail proposition.
There are relatively few major retail developments in the near-term pipeline in Ireland and consequently there are unlikely to be any major changes to the rankings of the leading venues. However, shopping centres are changing hands (e.g. Hammerson acquired Dundrum, The Pavilions and the ILAC Centre and both St Stephen’s Green Shopping Centre and Blanchardstown Shopping Centre are undergoing a change of ownership). These acquisition changes may result in asset management initiatives which impact the tenant mix and subsequently change the profile and status of the venue.
Dublin North is Ireland’s leading shopping destination with a VENUESCORE of 249, closely followed by Dublin South with 240.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 11 | CHAPTER THREE | FINDINGS
Source: Javelin Group (VENUESCORE Ireland 2016)
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Rank Venue VENUESCORE Rank Venue VENUESCORE
Dublin 489
1 Dublin (North) 249 11 Tallaght 113
2 Dublin (South) 240 12 Navan 108
3 Cork 219 13 Athlone 107
4 Dundrum 191 14 Liffey Valley 97
5 Galway 172 15 Letterkenny 92
6 Blanchardstown 165 16 Carlow 91
7 Limerick 119 17 Swords 90
8 Drogheda 116 18 Killarney 87
9 Newbridge 115 19 Tralee 85
10 Waterford 115 20 Wexford 84
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 12 | CHAPTER THREE | FINDINGS
Top 20 Shopping Centres (also includes Factory Outlets)
MALLSCORE represents the VENUESCORE of purpose-built shopping centres (malls, retail parks or factory outlet centres). Isolating the scores of these centres allows them to be ranked on a consistent basis, whether or not they are part of a wider retail offer (such as The Square within Tallaght, Centre). As we saw in the previous section, five of Ireland’s leading 20 retail venues are standalone malls (Dundrum, Blanchardstown, Tallaght, Liffey Valley and Swords).
The top of the mall rankings shown here is dominated by regional mega-malls. Dundrum Town Centre is the number one ranked shopping centre in Ireland and is a top scheme in terms of its aspirational market positioning – as evidenced by its Glam-Glum Index (*- see note) of 120 – although the majority of leading malls shown here have an aspirational orientation.
Factory Outlets are not a key feature of Ireland’s retail landscape. At present, Kildare Village is the only outlet of note with a MALLSCORE of 71 and has the highest Glam-Glum Index (155) of all the top 20 mall venues due to the high-end brands found there such as Folli Follie, Nike and Thomas Pink.
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
(*) The Glam-Glum Index reflects the relative market position orientation of a venue where 100 defines the average Irish retail venue. Scores above 100 reflect an aspirational bias; scores below 100 reflect an orientation towards the discount/value end of the market.
Rank Scheme Town MALLSCORE Glam-glum index (avg=100)
1 Dundrum Town Centre Dundrum 191 120
2 Blanchardstown Blanchardstown 142 114
3 The Square Tallaght 97 103
4 Liffey Valley SC Dublin 97 117
5 Merchant’s Quay SC Cork 84 116
6 Navan SC Navan 76 105
7 The Pavilions Swords 76 109
8 Whitewater SC Newbridge 73 106
9 Kildare Outlet Village Kildare 71 155
10 Jervis Street SC Dublin 69 110
11 Crescent SC Limerick 69 110
12 Corbett Court Galway 68 118
13 Mahon Point SC Cork 59 115
14 Omni Park SC Dublin 58 97
15 Athlone Town Centre Athlone 50 115
16 City Square SC Waterford 50 105
17 Nutgrove SC Dublin 47 105
18 The Bridgewater Arklow 44 97
19 The Marshes SC Dundalk 41 98
20 Stephen’s Green SC Dublin 41 100
Source: Javelin Group (VENUESCORE Ireland 2016)
Top Retail Parks
Manor West, Tralee is Ireland’s leading retail park destination. Tenants include Debenhams, Tesco and Woodie’s. Deerpark in Killarney follows closely behind Manor Park. Marks & Spencer anchor the scheme alongside retailers such as Homebase, New Look and Argos.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 13 | CHAPTER THREE | FINDINGS
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Rank Scheme Town MALLSCORE
1 Manor West RP Tralee 40
2 Deerpark RP Killarney 38
3 Letterkenny RP Letterkenny 32
4 Tullamore RP Tullamore 27
5 Childers RP Limerick 24
6 Rosebank RP Carrick-On-Shannon 17
7 Dundalk RP Dundalk 17
8 Mahon Point RP Cork 15
9 Drogheda RP Drogheda 14
10 Parkway RP Limerick 14
Source: Javelin Group (VENUESCORE Ireland 2016)
Malls vs. High Streets
The role played by shopping centres in Ireland’s leading venues ranges from 0% of the offer in Limerick, Letterkenny and Wexford up to 100% in Dundrum, Blanchardstown and Drogheda. Whilst the uneven nature of shopping centre distribution across these leading retail venues partially reflects the specific configuration and opportunities available for development, it nevertheless suggests that additional mall development might be possible in areas such as Tralee.
When reviewing the average dominance of MALLSCORE in relation to the VENUESCORE of a venue, Ireland scores significantly higher than the UK average (71% and 57% respectively). This indicates that shopping centres have a much stronger presence in Ireland. As well as the economic recession, this level of existing supply helps to explain the lack of pipeline developments over the coming years.
In place of new developments, focus is being shifted towards the refurbishment of shopping venues such as Dun Laoghaire and Stillorgan - both located in Dublin and to effective long-term proactive asset management.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 14 | CHAPTER THREE | FINDINGS
The importance of shopping centres in Ireland’s leading retail venues is reflected by the proportion of the total offer accounted for by malls in the top 20 venues.
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 15 | CHAPTER THREE | FINDINGS
Rank Venue VENUESCORE MALLSCORE (*)Mall
dominance (%)
1 Dublin (North) 249 137 55%
2 Dublin (South) 240 86 36%
3 Cork 219 153 70%
4 Dundrum 191 191 100%
5 Galway 172 169 98%
6 Blanchardstown 165 165 100%
7 Limerick 119 0 0%
8 Drogheda 116 116 100%
9 Newbridge 115 93 81%
10 Waterford 115 96 83%
11 Tallaght 113 97 86%
12 Navan 108 76 70%
13 Athlone 107 85 79%
14 Liffey Valley SC 97 97 100%
15 Letterkenny 92 0 0%
16 Carlow 91 71 78%
17 Swords 90 85 94%
18 Killarney 87 4 5%
19 Tralee 85 35 41%
20 Wexford 84 0 0%
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Source: Javelin Group (VENUESCORE Ireland 2016)(*) Total MALLSCORE of Shopping Centres only
The percentages shown here only consider multiple retailers. Independent retailers may be located outside of these mall venues.
Market Position
As the largest and most differentiated non-food spending sector, the fashion offer is often key for consumers when choosing a particular shopping venue. It is important for retailers to understand how venues differ in terms of market positioning (e.g. quality/price) in order to find the optimum locations for their format.
The Market Position Index (which we also refer to as the ‘Glam-Glum Rating’) provides a useful guide for distinguishing between shopping venues based upon their relative positioning along a spectrum running from Discount to Luxury. The fashion offer (together with some easily classifiable operators from other categories) is used to profile each venue.
To produce this index we classify retail formats across a spectrum of upscale to discount (as illustrated below). Each venue has an estimated average market position score based on the retailers present, with the Market Position Index for each venue then calculated by comparing the venue’s market position score against the average for all venues (down to Major District grade).
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 16 | CHAPTER THREE | FINDINGS
Glum Discount
Focus
Glam Upscale Appeal
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
The Market Position Index provides a useful guide for distinguishing between shopping venues based upon their relative positioning from Discount to Luxury.
Major District status venues and above with the strongest bias towards either the upper or lower end of the market position spectrum are shown below. Kildare Outlet Village is Ireland’s most upmarket retail venue followed by Dundrum and Liffey Valley.
At the other end of the spectrum, Ballinasloe, Clondalkin and Ballincollig are defined as Ireland’s most downmarket retail venues of any significant scale.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 17 | CHAPTER THREE | FINDINGS
Source: Javelin Group (VENUESCORE Ireland 2016)
Glum (most downmarket) Rank Glam
(most upmarket)
Ballinasloe 1 Kildare Outlet Village
Clondalkin 2 Dundrum
Ballincollig 3 Liffey Valley Shopping Centre
Bray 4 Mahon Point Shopping Centre
Longford 5 Crescent Shopping Centre
Ennis 6 Cork
Ashbourne 7 Dublin South
Dungarvan 8 Galway
Letterkenny 9 Swords
Mallow 10 Blanchardstown
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Fashion Position
In assessing the relative “fashionability” of shopping venues, a similar approach is used as that described in the previous section, assessing fashion retailers across a spectrum running from progressive through to traditional. Tullamore, Ashbourne and Kildare Outlet Village are the most progressive venues. At the other end of the spectrum, Clondalkin and Stillorgan rank as the most traditional venues.
In Tullamore, retailers that contribute towards its progressive status include Jack & Jones, Vero Moda and Paul Byron Shoes. Whereas, in Clondalkin more traditional retailers prevail with the likes of Tesco, Specsavers and McDonald’s trading there.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 18 | CHAPTER THREE | FINDINGS
Source: Javelin Group (VENUESCORE Ireland 2016)
Progressive
Traditional
Tullamore ranks as Ireland’s most progressive venue, whilst Clondalkin is typical of the country’s traditional retail offer.
Traditional Rank Progressive
Clondalkin 1 Tullamore
Stillorgan 2 Ashbourne
Manor West Retail Park 3 Kildare Outlet Village
Blackrock 4 Dublin South
Ennis 5 Dundrum
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Age Position
By identifying those multiple retailers with particularly strong young (e.g. Hollister, H&M, Miss Selfridge, Blue Inc., Game, Superdry) or old (e.g. Wallis, Ecco, Radley) orientation, it is possible to compare venues based on their overall appeal to different age cohorts.
Venues such as Wilton Shopping Centre, Arklow and Clonmel have a relatively young retail focus on this basis, whilst venues with the strongest bias towards older shoppers include Stillorgan, Mallow and Ballinasloe.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 19 | CHAPTER THREE | FINDINGS
Source: Javelin Group (VENUESCORE Ireland 2016)
Oldest Rank Youngest
Stillorgan 1 Wilton Shopping Centre
Mallow 2 Arklow
Ballinasloe 3 Clonmel
Blackrock 4 Dundrum
Manor West Retail Park 5 Dundalk
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Rank Venue Tourist index (avg=100)
1 Kildare Outlet Village 353
2 Liffey Valley Shopping Centre 183
3 Crescent Shopping Centre 166
4 Swords 162
5 Dublin South 154
Tourist Venues
Kildare Outlet Village and Liffey Valley provide the greatest mix of retailers appealing to the tourist shopper.
Tourist orientated retailers in these destinations include Tommy Hilfiger, Diesel and L’Occitane.
Source: Javelin Group (VENUESCORE Ireland 2016)
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 20 | CHAPTER THREE | FINDINGS
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Internationalisation
Looking at the issue of non-domestic influences (those outide of Ireland and the UK) from another perspective, the orientation of Ireland’s venues towards incoming foreign brands offers an additional insight into their perceived status within Ireland’s retail hierarchy.
Using our GLOBALSCORE Index, Kildare Outlet Village is the most globally oriented venue in Ireland, with 85% of its total multiple provision accounted for by international retailer brands (e.g. TK Maxx, Starbucks, Next). At the other extreme, venues such as Ballinasloe, Clondalkin and Stillorgan remain largely unaffected by the trend towards internationalisation with retail offers still dominated by domestic retail brands.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 21 | CHAPTER THREE | FINDINGS
Source: Javelin Group (VENUESCORE Ireland 2016)
Rank Venue VENUESCORE GLOBALSCORE GLOBALSCORE as % of Total
GLOBALSCORE Index
1 Kildare Outlet Village 71 60 84.5% 150
2 Liffey Valley Shopping Centre 97 74 76.3% 136
3 Blanchardstown 165 120 72.7% 129
4 Limerick 89 62 69.7% 124
5 Mahon Point Shopping Centre 59 41 69.5% 124
6 Blackrock 36 25 69.4% 124
7 Dundrum 191 132 69.1% 123
8 Crescent Shopping Centre 69 46 66.7% 119
9 Athlone 107 69 64.5% 115
10 Swords 90 58 64.4% 115
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Regional Analysis
The table below summarises the overall characteristics of the retail supply available nationally across Ireland’s regions.
The table also includes an assessment of the extent to which multiple retail penetrates different regions by comparing resident population (weighted for affluence) against each region’s aggregate VENUESCORE.
The ratio of weighted population per VENUESCORE point identifies the North West, Donegal and the Midlands as Ireland’s most under-supplied regions (relative to their spend-weighted populations), whilst Dublin and the South-East appear to be the most multiple-penetrated areas.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 22 | CHAPTER THREE | FINDINGS
Source: Javelin Group (VENUESCORE Ireland 2016)The Index shown here is inversed whereby a high score indicates a potential over-provision of retail.
Region Total VENUESCORE
FASHIONSCORE index
(avg=100)
Glam-glum index
(avg=100)Population
(000)Affluence
index (avg=100)
Weighted population per
VENUESCORE point
Under- / over-
shopped index
(avg=100)
Total Ireland 7,220 21 87 4,588 100 635 100
Dublin 2,411 23 96 1,144 102 486 131
South West 1,021 25 93 784 100 769 83
East 761 27 82 536 98 688 92
Mid West 702 18 97 528 100 753 84
South East 626 18 87 354 100 564 113
West 551 26 91 377 99 675 94
Midlands 471 37 86 369 99 771 82
North East 377 8 83 241 99 631 101
Donegal 180 13 82 154 97 827 77
North West 120 11 73 102 103 870 73
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
The table below shows the proportion of the total retail offer provided by Foodservice at a regional level.
There is huge variation between regions, with Dublin’s Foodservice provision the highest in Ireland, whereas for both Donegal and the North East, Foodservice is less than 11% of the total (based on multiple operator provision).
These differentials indicate the scale of category shift that could occur across Ireland’s regions in the coming years as Foodservice (combined with other Leisure) becomes an increasingly important component of the nation’s multiple retail offer.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 23 | CHAPTER THREE | FINDINGS
Source: Javelin Group (VENUESCORE Ireland 2016)
Region Total VENUESCORE
Total FOODSCORE
FOODSCORE as % of total
Total Ireland 7,220 994 14%
Dublin 2,411 391 26%
South West 1,021 141 12%
East 761 95 14%
Mid West 702 106 21%
South East 626 82 16%
West 551 60 12%
Midlands 471 49 13%
North East 377 47 11%
Donegal 180 12 1%
North West 120 11 18%
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Foodservice Orientation
Successful shopping venues are no longer solely defined by the strength of the retail offer available to consumers – an integrated foodservice offer has now become a key value driver and an increasingly important component of the venue’s overall ‘brand proposition’.
It is also possible to see (via VENUESCORE) that the presence of a strong foodservice offer appears to encourage more fashion retailers to be present and can also lead to more aspirational brands being attracted to a location.
The table below shows the top 20 venues with the highest foodservice representation. Dublin South has the highest FOODSCORE; foodservice retailers make up 20% of its retail offer e.g. GBK, O’Briens and Nando’s. In the top 20, foodservice makes up more than 10% of each venue’s retail offer.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 24 | CHAPTER THREE | FINDINGS
Source: Javelin Group (VENUESCORE Ireland 2016)
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
Rank Town FOODSCORE VENUESCORE FOODSCORE as % of VENUESCORE
1 Dublin (South) 47 240 19.6%
2 Dublin (North) 34 249 13.7%
3 Cork 32 219 14.6%
4 Blanchardstown 26 165 15.8%
5 Dundrum 23 191 12.0%
6 Limerick 21 119 17.6%
7 Waterford 21 115 18.3%
8 Galway 19 172 11.0%
9 Drogheda 18 116 15.5%
10 Newbridge 18 115 15.7%
11 Navan 16 108 14.8%
12 Tallaght 14 113 12.4%
13 Dublin 14 97 14.4%
14 Swords 14 90 15.6%
15 Killarney 13 87 14.9%
16 Dun Laoghaire 13 78 16.7%
17 Athlone 12 107 11.2%
18 Carlow 12 91 13.2%
19 Letterkenny 10 92 10.9%
20 Wexford 10 84 11.9%
The full VENUESCORE Ireland 2016 report can be licensed annually and is delivered as an Excel spreadsheet and an interactive Tableau dashboard.The full dataset contains the following rankings tables:
Order VENUESCORE Ireland 2016
To order your copy of the full VENUESCORE Ireland 2016 dataset for £1000 +VAT (or to enquire about VENUESCORE UK) please email [email protected] and include the following information: name, position, company name to appear on invoice, company VAT number, invoice address and telephone number. Thank you for your order.
1. National ranking National rankings for Ireland’s leading shopping venues (i.e. Major City to Major District grade)
2. Alphabetical ranking Full ranking of Ireland’s retail venues presented in alphabetical order (i.e. Major City to Local grade)
3. Rankings by region All venues ranked within their region (i.e. Dublin, East, West etc.)
4. Rankings by County Ranks all venues by County to assist in local retail hierarchy planning
5. MALLSCORE ranking Ranking Ireland’s shopping centres, retail parks, outlet centres and transport hubs
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 25 | ORDER VENUESCORE IRELAND 2016
ORDER VENUESCORE Ireland 2016
Example tables in Tableau format. See page 26 for an example table in Excel format.
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 26 | ORDER VENUESCORE IRELAND 2016
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
VEN
UES
CORE
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and
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| R
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Sour
ce: J
avel
in G
roup
(VEN
UES
CORE
Irel
and
2016
)
Javelin Group, part of Accenture Strategy, provides strategy consulting and digital transformation services to the world’s leading retailers and consumer brands.
As a team of 250+ consultants, we are vertical specialists in digital retail, combining skills in strategy, operations, technology, and analytics, across all channels. We have an extensive global client list, which includes the world’s leading retailers, consumer brands, private equity, shopping centre owners and investors.
Our Locations & Analytics team, which has worked with more than 200 retailers and brand clients, combines information on stores, catchments and spending with a detailed knowledge of shopping venues across Europe to advise retail companies on:
1. Roll-out potential of expanding chains2. Store portfolio review to establish investment / exit priorities3. Sales forecasting4. Site-specific evaluations for town centre and out-of-town retailers5. Catchment analysis (RETAILNATION)6. Store grading and local merchandising7. Retail store performance benchmarking (SHOPSCORE)8. Market analysis software tools (e.g. Alteryx, Tableau)9. Consumer data and segmentation
Contact us
If you would like to discuss your retail locations and analytics requirements, please contact Robin Bevan, Director of Locations & Analytics practice at Javelin Group, at [email protected] or on +44 (0)20 7961 3200. For more information about Javelin Group, please visit www.javelingroup.com.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016 | PAGE 27 | ABOUT JAVELIN GROUP
ABOUT JAVELIN GROUP
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.
JAVELIN GROUP EXECUTIVE SUMMARY | VENUESCORE IRELAND 2016
Copyright © 2016 Accenture. All Rights Reserved. Accenture, its logos, and High Performance Delivered are trademarks of Accenture or Javelin Group. This document may make reference to trademarks that may be owned by others. If so, the use of such trademarks is not an assertion of ownership of such trademarks by Accenture and is not intended to represent or imply the existence of an association between Accenture and the lawful owners of such trademarks. All title, ownership rights and intellectual property rights in and relating to this brochure or any copies thereof including but not limited to copyright, logos, names, trademarks, service marks, design, text, sound recordings, images, links, concepts and themes are owned by Accenture and/or its subsidiaries or used under authorized licence by Accenture and or Javelin. Any reproduction, transmission, publication, performance, broadcast, alteration, license, hyperlink, creation of derivative works or other use in whole or in part in any manner without the prior written consent of the Accenture is strictly prohibited. Save and except with the prior written consent of Accenture, you shall not insert a hyperlink to this brochure or any part thereof on any other brochure or “mirror” or frame this brochure, any part thereof, or any information or materials contained in this brochure on any other server, website or webpage.
Javelin Group is a trading name of Accenture (UK) Limited | www.javelingroup.com | Copyright © 2016 Accenture. All Rights Reserved.