Katapult
Attraction and repulsion : Solving the magnetic relationship of retail and leisure beyond 2024
“ Build back different ” was the cry from retail guru Bill Grimsey on the state of our city centres back in 2020 - a time when the retail and leisure industries were psychologically poles apart .
Shopping centres and high streets were the hubbub of international retail brands , with only cinemas and crazy golf venues shoe-horned into empty units . Theme parks and visitor experiences stayed put in their traditional out-of-town-centre locations , with only big operators of indoor attractions daring to step foot into the highest of footfall destinations .
Meanwhile , the upward trajectory of consumer sentiment towards ‘ doing things ’ rather than ‘ buying stuff ’ has bubbled away in the background . Covid lockdowns at the turn of the decade exacerbated demand for leisure and experiences , creating an almighty opportunity both then , and now .
Online search queries from Brits for “ things to do ” have increased by 320 % in three years . Visit Britain reported record international tourism spend of £ 30.9 billion in 2023 . Globally , Mastercard has witnessed a 65 % increase in spend on experiences since pre-pandemic .
Demand has never been higher .
Naturally , the biggest and most entrepreneurial cities of London , Manchester , Edinburgh and Bristol have dedicated central locations to leisure already - creating higher footfall , greater ambience and more affinity to their revitalised city centre destinations .
Courtesy of Gravity MAX
18 Katapult