Place North West: Future of Retail

This is an excerpt from an article that appeared on the North West Place website: https://www.placenorthwest.co.uk/news/future-of-retail-summary-slides-gallery/
With the retail sector undergoing the greatest shift seen in decades, Place North West was joined at the Future of Retail event by expert speakers to explore the current state of the market, occupier trends, and the technology set to define the future of shopping.
More than 150 people attended the half-day conference at the Manchester Central Convention Complex, which was sponsored by DAC Beachcroft, IBI Group and Savills.
Speakers included Daniel Mead, head of shopping centre asset management at APAM; Alison Key, head of real estate at DAC Beachcroft; Jeremy Hinds, head of retail planning, Savills; Jonathan Downey, co-founder of London Union; Tom Prescott, retail agent at Barker Proudlove; John Searle, director of economy for Rochdale Council; Matthew Thompson, head of retail strategy at Colliers International; Clive Hall, chief executive of PlaceDashboard; and Seamus Lennon, architect and studio director at IBI Group.
Key, DAC Beachcroft’s head of real estate, opened the event with a presentation about the evolution of the leisure experience from research completed by Savills:

  • The future is promising, and it’s a story of growth, according to Key
  • Leisure spend growth consistently outpaces retail. While household restaurant spend has levelled and cinema admissions have flatlined, revenue has increased
  • 72% of leisure units are on high streets but density higher in schemes, 75% of leisure/F&B growth in last 5 years has been from change of use – not new development, growth in F&B has been well ahead of other sub-sectors, London high street units still ahead of the UK for leisure provision – but the gap is narrowing (36% compared to 22%), and the independent sector covering new ground
  • The future isn’t equal, there’s a general feeling that CVAs need an overhaul
  • Consumers are prepared to travel for specialist experiences, but they still want convenience and value
  • The role of technology is important for customer experience and for retailers to have a dialogue with the consumer

Read the full article here: https://www.placenorthwest.co.uk/news/future-of-retail-summary-slides-gallery/

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