Today’s rapidly changing consumer behaviour offers amazing opportunities, yet at the same time places tremendous pressure on retailers, the real estate industry, and logistics specialists. But though nailing the last mile or even the final hundred metres in logistics is potentially lucrative, is the last-push ecosystem sufficiently innovative?
Innovation, innovation, innovation: the important mantra in retail and retail real estate that’s likely to become the guiding principle for the future of physical retail. Those that embrace change and fresh offerings are likely to spark consumers’ retail imaginations and create the brand loyalty so many crave.
The lively north London borough of Islington has long attracted locals, Londoners and visitors to work, shop and socialise there. As CBRE Global Investors and Cain International take a larger stake in the local area with their mixed-use offerings, they favour taking complementary approaches to avoid unbalancing the local ecosystem.
Edinburgh St James is bang on trend with its mixed-use development that is designed to be value-additive to the Scottish capital city and ahead of the curve in getting brands to work together for collective positive outcomes. But as construction of the 850,000 square feet scheme gears up for completion, time will tell if there is sufficient demand in Edinburgh to support the entire city centre.
Some of the key offerings on the evolving German retail real estate smorgasbord are food retail, mixed use developments and prime high street in the country’s leading cities. But as Germany skirts recessionary pressures, there is little sign at this stage that retail’s favoured sub-sectors are feeling any negative impact.
Breaking into the retail big leagues can often be very daunting and challenging for young and growing businesses with amazing ideas. But John Lewis Partnership’s JLAB is among the growing number of programmes that encourage and develop ideas from super-smart innovators that want to breathe fresh ideas into retail.
Technology is driving the future of phygical retail – where physical and digital are reshaping retail innovation in store. But the sheer scale of capital expenditure investment needed means that retailers have to be tech-smart with the choices they prioritise.
Bertrand Swiderski, Carrefour’s Sustainability Director, talks to Retail Watch about what it will take to achieve the global supermarket group’s goal of being the world leader in food transition.
We are all different, aren’t we? As my German acquaintances like to remind me, German nationals tend to prefer using cash to credit cards. They also seem to be hotter on asserting privacy.
Taking a leadership role and adopting credible business cases in championing sustainability have made positive inroads in retail and retail real estate, but meaningful transformation over the longer term will take much more joined-up action.