Plymouth, unfortunately is trailing way behind its competitor.
When it comes to consumer spending, it is no secret that Exeter is right up there, but Plymouth on the other hand will not see any new retail and leisure jobs in 2018, according to a recent report.
It is predicted that Exeter will be the UK’s top performing city for spending in shops and restaurants in 2018.
Exeter, top performing city
A recent forecast has shown how the nations main 44 cities are performing economically when it comes to consumer spending.
Exeter could well see a lot of opportunities created as a result of this report.
Meanwhile, back in Plymouth very little or no increase in jobs for the rest of 2018 is expected.
Plymouth is lying down
Exeter’s GVA (Gross Value Added), which is a measure of the goods and services produced, is expected to grow by 3% which it brings to the consumer economy.
Unfortunately Plymouth is languishing towards the bottom at 25th place.
The report goes onto say that Exeter could well see the biggest consumer GVA growth by the end of year.
There is even the possibility that it could beat both Bristol and Edinburgh.
A path of destruction
Plymouth is expected to see little or no increase in workforce numbers, a report spokes man said.
Plymouth has suffered greatly in 2018 with several high profile stores closing.
These stores include the likes of Toys R Us and Maplin and is poised to lose its House of Fraser city centre department store.
The economic downturn isn’t just unique to Plymouth across the country several major companies have had issues including, some of them have closed altogether:
- Toys R Us
- Bargain Booze
- House of Fraser
- New Look
- Marks & Sepncer
- Laura Ashley
- Moss Bros
- Game Digital
- Topshop, Topman, Dorothy Perkins, Burton, Evans and Wallis
- Sports Direct
- Saltrock Surfwea
Plymouth see High Street employment decrease
Exeter is surging ahead when it comes to consumer-related employment, Exeter was in 16th place in Q4 2017, with growth of 1.8%.
Plymouth was languishing at 41st place with 1.5% decline in employment.
The new figures have emerged from the new UK Powerhouse report into The Consumer Economy 2018/2019 and were produced by law form Irwin Mitchell and the Centre for Economics and Business Research (Cebr).