A new update from ULI to the Reshaping Retail report, which was published earlier this year prior to the coronavirus pandemic taking hold across Europe, forecasts that the impact of COVID-19 will accelerate the restructuring of the retail property sector, particularly in the United Kingdom. The need for stable cash flows has been identified as the main overall trigger point needed to spur the investment market.
In a discussion of the ongoing transformation of U.S. retail, panelists participating in the 2020 ULI Spring Meeting Webinar Series agreed that the authenticity, differentiation, and transparency creating a sense of place in mixed-use retail spaces are likely to be what consumers seek in the future. Single-use spaces are about convenience, but that is only half of what consumers say they are looking for.
A timely report by ULI Europe sets out the potential triggers for the required restructuring of Europe’s retail real estate sector.
At a ULI Central Florida event, panelists discussed their strategies for turning around a underperforming retail districts in nearby St. Petersburg, largely through the curation of a more specific tenant mix.
When e-commerce first became entrenched in China, it seemed to sound the death knell for traditional retail. Sporting venues and other cultural attractions are helping bring foot traffic to the experiential retail of the future, said panelists at a ULI event in Shanghai.
Singapore-based developer CapitaLand is harvesting data to boost the revenues of its retail tenants and to help it locate future malls. Speaking at the ULI Asia Pacific Convivium, Chris Chong, managing director at CapitaLand Retail, said that the company uses data to boost both footfall and spending for tenants in its malls, which will ultimately benefit the landlord.
We are long past the point of discussing how technology has interrupted our lives and changed our perspective of the world. We are now in the post-disruption era, and in many sectors including retail, a new normal is emerging. At the same time, we are finally at a place where we can connect the dots to understand how retail is evolving—more efficient through technology and more engagement-focused through experience. The biggest idea driving the newest and most successful retail strategies is wrapped around how we value things—especially time.
A lot of thought and hard work go into making a place look like it could not have appeared anywhere else.
As vehicle use and shopping habits change rapidly, densified parking areas can free up space for new uses that benefit the community.
A CBRE analysis of U.S. consumer spending and demographic patterns suggests significant changes for food-and-beverage operators and the real estate they occupy, including a greater push for convenient, prepared foods; a growing millennial influence; and the emergence of inner-ring suburbs as the industry’s hottest market.