According to the latest data from research and consulting firm GlobalData, the UK retail parks market is set to grow by 13.8% between 2017 and 2022.

The report says that the growth will be driven by new retail parks and extensions made to existing ones. Retail parks are particularly popular with DIY and gardening retailers, but have also become dominated more with high street names such as Next and Boots as well as discount stores.

According to a survey by GlobalData, 90% of consumers have shopped at a retail park in the last 12 months, with 54.3% having visited at least once a month. Said Retail Analyst Charlotte Pearce: “The retail parks landscape is changing drastically as discounters in particular are rapidly expanding their share of the market. Indeed, retailers such as Aldi, Lidl, Home Bargains, and Poundland have grown their presence, leveraging their low price points to draw in shoppers.

“Over the next five years, discounters will increase their share of the market by 6%, rising to account for 20.3% of retail park sales. This will demonstrate their ability to attract a broad range of shoppers and generate high footfall.”

Traditional retail parks sectors have seen their share of the overall market decrease over the past five years, according to GlobalData, with DIY and gardening dropping by one percentage point, while electricals have fallen by three.

Ms Pearce added: “Despite the clear opportunities offered by retail parks, offline retail remains a challenge as consumers continue to shop online. Retailers must embrace multichannel and support the growth of click and collect in stores, highlighting the convenience of retail park stores for consumers, such as free parking and ease of access.”