Toys R Us, Mothercare, Carpetright, Homebase have all gone. B&Q is in serious difficulties. Halfords has posted profit warnings. PCWorld has shut down many of its retail park units to concentrate into central shopping centre sites. Some of these are poor management; but most also report being hit by a combination of internet competition and inflexible fixed costs associated with retail park units. There is no such thing as 'free' parking; someone is always paying, and if there is no charge being collected from the user, then that cost will be a charge on the tenants' rents - and so adds to their overheads. Which is why you wono't see Aldi in a retail park. Hence, while rental costs per sq m may be lower in a retail park, the fact that the units are characterisitically much larger inm area means that overall rental overheads are higher. Businesses in retail parks need to be shifting a lot more in the way of goods to break even.
In Halfords case an additional factor is reported; which is that customers are unwilling to buy high margin goods in a retail park. They expect prices to be not much higher than those from internet traders. So, to Halfords frustration, their attempts to establish a trade in higher value bikes has been conspicuously unsuccessful. In a town centre specialist bike shop, customers will be reckoning to spend £1,000 or more; often much more. But in Halfords the same customers won't spend more than £500.
Not wishing to get bogged down in the world of retail logistics and cost bases but, as I say, the world of retail parks is slightly different. The issues with Homebase (which hasn't gone) was a fundamental issue with their owner Bunnings not knowing the UK market whilst Toys R Us has been massively complacent in so many ways, leading to it being saddled with debt. Mothercare haven't confirmed their closures but they've closed so many already - this will take a business who had 400+ stores to somewhere below 100.
Now whilst I take your point that free parking is never truly "free" as it a cost that is recovered somewhere, the perception to shoppers is that it is free. Item A or Item B isn't more expensive in a store in a retail park in comparison to a high street store. In fact, the reality is that in many instances, the costs of a store on a retail park are often much lower than a high street location. That's' because a) they attract lower rents and lower rates b) more modern design means utilities are lower c) purpose built service yards mean that logistics costs are lower. In fact, it is also much easier to increase your sales area by putting in a free standing mezzanine in a store that doesn't attract rates (so you can have 3500 sqm but pay rates only on 2000 sqm).
Therefore, more sales in a lower cost facility means that even if you're paying a bit to the landlord for the parking, the cost is wiped out and in any case, it is free at point of consumption so the perception to the average Joe is that it is free, irrespective of any underlying reality.
My point is that the loss of bus demand due to abstraction of bus trafffic onto a new tram lilne need not lead to a drop in bus use overall. The obvious example of this is Nottingham, where total annual bus boardings have remained constant around 48m over the past ten years; even though the NET tram network has doubled in size.
Well, it need not, but it does! Your example of Nottingham is interesting. Using the table bus110 (trips per head of population for Nottingham), journeys ph fell from 162.2 to 156.5 from 2010/1 to 2014/5, a fall of 5.6 per head. When the next phase opened, the following year recorded a decline to 148.5 - a drop of 8 in one year. Clearly, NET abstracted trade from the buses and that is entirely to be expected. However, you're expecting not just a maintenance or reduced decline of current patronage (as per Nottingham) but substantial growth (as per Bristol).
Bristol has managed to increase loadings overall but it is the sole public transport option for much of the area. Greater Manchester doesn't have that with the Metrolink both in situ and expanding. Also, it should be noted that Bristol's growth hasn't been homogenous but is across certain corridors where there is growth. In GM, some of those growth corridors are already now covered with Metrolink so the ability to grow bus patronage is constrained. That there is a potential latent growth waiting to be tapped in GM - possibly, but to point to Bristol and suggest that it is a trick that can be repeated ignores the substantial differences in public transport provision and the demographics/economic activity of the two cities.
As for the issue of competition, the issue (AFAIK) has been that the ability to offer an integrated ticket should not be a barrier to other entrants into the market. We have plenty of PlusBus schemes whereby participating operators are free to get involved or not.
Now whilst the core principle of franchising is that it does bring revenue to a central pool, the question is whether the economics back that up. You can have more passengers and more revenue - how that is delivered when commercial operators can't do that? If the whole idea is to impose control and remove overprovision, then by definition operators have no ability to innovate - they merely provide a service to a set of KPIs that underpin an SLA. Then there's the cost of administering the franchising regime? And, unlike London, the idea of a congestion charge is dead as the proverbial...
Of course, public transport could and should be better. Give people a good alternative and they will use it and the public and private sectors should be able to work together to deliver it. However, it all boils down to money - Nexus didn't pass that test and I have misgivings in that the bus network will be recast to simply act as a conduit to funnelling people onto the Metrolink and not as a means of delivering a real change (as seemed to be the case with Nexus).