28/01/2009 New IKEA store fears

A report from research company Experian has revealed that the new IKEA store in Southampton could cost shopping centres surrounding the city millions.

The new IKEA store is set to open in February and data from Experian has suggested that spending in the city is set to rise by 4.05% due to Southampton becoming a a more attractive shopping destination. With footfall to retail destinations in close proximity such as the WestQuay shopping centre likely to rise

However, smaller shopping centres surrounding Southampton could suffer a severe loss of trade with research from Experian suggesting that Eastleigh is expected to lose £13.7 million, Winchester £10.7 million, and Fareham losing £4.4 million.

Additionally, fears of traffic congestion were also highlighted by the data - despite the store having a 900-space car park – which suggests the draw of the new shop could cause a rise in parking problems and congestion in the city.

Keep ahead – read Cabinet Maker – the Interiors Retailing Weekly