Retail is a dynamic business – retailers and investors alike can never stay complacent, but must adapt and respond to the changing needs and demands of the consumer. Significant advances in technology and the rise of the middle class in many countries are leading to major changes in shopping and lifestyle behaviours. This spells broad-based structural change in retail, which seems to be setting clear boundaries between ‘experiential’ shopping and ‘convenience’ shopping.
An increasing proportion of global consumers are doing at least some of their shopping online – be it browsing, buying or both – and they increasingly use portable or handheld devices to do so. They use apps and social media and are keen to experiment with new technologies and gadgets, whilst also being cost-conscious. Experience, ease and customisation are three vital elements for retail of the present and the future.
Source : M&G Real Estate