Real Estate

Real Estate House View 2021: Retail Outlook

By Brett Williams
Managing Director of Retail - Real Estate Sydney, Australia
Experience and convenience the key for retail’s future. The retail sector has had a lot of structural challenges recently due to the global pandemic, however its resilience has been stronger than anticipated with optimism around the ability of operators to evolve past their current offering. Looking to 2021, the most appealing assets are forecasted to be the super regional centres with full retail offering of supermarkets, fresh food, leisure and entertainment along with neighbourhood and convenience-based centres. Beyond the short term period, the key drivers of change for retail are the acceleration of eCommerce and the shift from goods to dining, leisure, entertainment and experiences. There is also opportunity growing for mixed use through the interest in living, working and playing within close proximity of centres. The future shopping centre will have a greater focus on experience with a more diverse tenant base, diversity of income and customer focus.
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