While the development will not be up and running until 2005, subject to planning permission, it looks like a great location for Asda.
CACI predicts the store will turn into one of the company's top five based on turnover. While it is likely to be closer to the middle of the estate in terms of sales density, the site has huge potential due to the vast amount of new housing developments taking place in the catchment.
The catchment of the proposed store naturally stretches south due to the level of competition towards the centre of Milton Keynes. And this is the area likely to see the greatest level of new residential development.
Additionally the store is likely to benefit from the extra footfall generated by the other proposed developments on the site, which include hotels, restaurants, a media village and additional retail. The jury is still out on whether the football club will draw sufficient numbers to boost trade.
However, CACI's analysis reveals that the current catchment profile is more akin to that of typical customers of Tesco or Waitrose. The area contains many wealthy suburbanites, which have a strong fit to Waitrose, but none of the main fascias have a great fit with the large numbers of affluent executives and well-off workers in family areas found in ACORN Groups four and five.
Asda does perform well with the more mature family areas, but still has a poorer fit than Tesco among this group. Tesco is highly represented in the area, with a sizeable store in Bletchley and a large Tesco Extra in Kingston, Milton Keynes, less than four miles away.
As a result Tesco is likely to feel the greatest impact from the new Asda store. Safeway and Sainsbury are also likely to be its victims.
The Bletchley site offers what must be one of the few opportunities that exist in Britain for Asda to open a store of this size without any significant cannibalisation of its existing estate.
{{INSIGHT }}
CACI predicts the store will turn into one of the company's top five based on turnover. While it is likely to be closer to the middle of the estate in terms of sales density, the site has huge potential due to the vast amount of new housing developments taking place in the catchment.
The catchment of the proposed store naturally stretches south due to the level of competition towards the centre of Milton Keynes. And this is the area likely to see the greatest level of new residential development.
Additionally the store is likely to benefit from the extra footfall generated by the other proposed developments on the site, which include hotels, restaurants, a media village and additional retail. The jury is still out on whether the football club will draw sufficient numbers to boost trade.
However, CACI's analysis reveals that the current catchment profile is more akin to that of typical customers of Tesco or Waitrose. The area contains many wealthy suburbanites, which have a strong fit to Waitrose, but none of the main fascias have a great fit with the large numbers of affluent executives and well-off workers in family areas found in ACORN Groups four and five.
Asda does perform well with the more mature family areas, but still has a poorer fit than Tesco among this group. Tesco is highly represented in the area, with a sizeable store in Bletchley and a large Tesco Extra in Kingston, Milton Keynes, less than four miles away.
As a result Tesco is likely to feel the greatest impact from the new Asda store. Safeway and Sainsbury are also likely to be its victims.
The Bletchley site offers what must be one of the few opportunities that exist in Britain for Asda to open a store of this size without any significant cannibalisation of its existing estate.
{{INSIGHT }}
No comments yet