Great Expectations

LONDON - The evolution of the retail store in the face of growing online sales has been much written about, but shopping centres also can’t afford to be left behind in the age of ecommerce and changing technologies.

LONDON – The evolution of the retail store in the face of growing online sales has been much written about, but shopping centres also can’t afford to be left behind in the age of ecommerce and changing technologies.

This Retail Week report – produced in association with Yardi – explores how retailers view shopping centres and ways that centres can create an environment in which retail doors not only remain open, but thrive in a digital era.

Based on interviews with 50 retail directors responsible for store portfolios – each representing a company with a turnover of between £50m and £10bn – the report finds strong similarities in what retailers want from shopping centres, and reflects changing shopper habits.

Key themes are explored around how shopping centres can better support retailers, including expectations about infrastructure for technology and data, as well as how they can attract new entrants. The right mix between retail, leisure and dining is a fundamental attraction, while providing wi-fi is a prerequisite for retailers setting up shop in malls, which has both customer-facing and operational benefits.

The future opportunities for shopping centres to enhance their performance, while diverse, are all underpinned by robust data. Decisions are increasingly data-led, and while current platforms – typically management software and spreadsheets – for data sharing have been well-received by retailers, there’s a strong feeling centre owners could provide more information. In particular, they want detail about footfall, dwell time and average spend, to better understand the local catchment and to adapt store space accordingly.

Common themes for shopping centre investment over the next 12 months, according to our surveyed retailers, include keeping up with new technology, integrating ecommerce and opening new stores – all of which are elements that new entrants such as brands and etailers are looking to invest in.

Throughout the report, best practice examples are considered that showcase how retailers are grappling with digital change and how centres should innovate. Download the free report here.

SHARE POST

Facebook LinkedIN

Recent articles

multifamily building and Yardi banner showing from lease to ledger

How property management software works [Complete guide]

Property management software (PMS) is a platform that connects leasing, CRM, accounting, maintenance and compliance in one operational system for a real estate portfolio. It works across four dimensions: inputs, workflows, outputs and integrations, which determine how much automation, visibility and control your operation gets.

Commercial lease amendment software: Smart Lease fall update

Smart Lease adds amendment abstraction, a redesigned extraction screen, new review controls and auto-train, so teams can see every change before it reaches the lease record.

See everything, decide faster: Senior living in the age of connected data

How 5 teams switched to senior living reporting dashboards

Hours spent on spreadsheets and conflicting data slow decisions. See how five senior living operators replaced manual reports with real-time dashboards powered by Yardi Senior IQ. Download the ebook.

11 / 03 / 26