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“Brands have to touch every step of the customer journey and online shopping must be part of a 360° digital environment that fully integrates new digital tools into all aspects of the ‘traditional’ business model.”

“We can expect to see online continue to influence retailer store requirements globally, complementing the physical store network to access a global consumer base.”

Consumer and retailer demands for mixed environments, interconnected usages, and greater flexibility require new or, at the very least, reimagined real estate objects and locations.

Entering 2016, we find ourselves in a new phase of change in the pan-European shopping center sector.

With 93% of UK adults using a mobile phone in 2014, according to Ofcom, and a wealth of evidence showing our rising emotional dependence on mobile devices, it is becoming increasingly important for retail property owners and retailers to recognize mobile device usage in store and adapt accordingly.

What impact will online retail have on the space requirements of the stationary trade?

When international retailers and consumers think of the UK retail industry, London has traditionally dominated the outlook.

Retail warehousing in Europe has evolved rapidly as a trading format over the last 30+ years and now accounts for a significant share of both retail floor space and sales volumes. Although retail warehouses were initially developed to service the needs of “bulky goods” retailers, the attraction to shoppers of easy access and convenient free parking soon registered with other retailer groups. Increasingly, fashion, footwear, sports, and household goods retailers have committed to out-of-town formats where planning conditions permit.

At the recent opening of a shopping center that I attended, one of the guests remarked: “Let’s be honest, it’s turned out beautifully, but no one here needed the center!” Conversation came to a brief stop, followed by a rapid return, owing to the joyous occasion and the presence of the owner, to the small talk that is usual at such events.

These days, there has been a large debate about the crises of the bricks-and-mortar trade and the threat from e-commerce.

Not a day goes by in which we aren’t warned by crystal-ball-gazing apologists of every type about the demise of over-the-counter retail in general and of shopping centers in particular. Our only experiences of the world will be virtual ones or – at the very least – we will produce everything at home on our own 3-D printers.

Designer outlets have been one of the most widely misunderstood, but strongest performing, real estate sectors in Europe over the past decade. The strong consumer demand for the outlet sector is reflected in the high levels of footfall, extensive catchment areas, and strong sales densities. In turn, strong occupier demand accounts for very high occupancy rates across quality outlets: Tier 1 assets have an average vacancy rate of just 2%.

The quality of the retail offer presented by a shopping center is the route to leveraging customer preference. It is therefore key to retailer success. The art of leasing is central to our business.