Responding to post COVID-19 consumer needs
The Retail landscape was already changing
Even before COVID-19, changing consumer behaviours meant that retailers were having to adapt, fast. As a result, rapid decision making on commercial real estate was more critical than ever.
Acceleration of challenges
Many of the key challenges that retailers faced pre COVID‑19 have been accelerated as a result of the crisis and in some areas consumer behaviour has been fundamentally impacted.
Retailers must evolve
Considering the likely accelerated growth in online channels, understanding the new normal customer behaviour and curating the right real estate footprint is at the heart of creating a profitable business.
Optimisation will be key
Retailers need to move swiftly and decisively to make changes to their retail stores and warehouse portfolio to set themselves up for recovery and to capitalise on returning consumer confidence.
Retailers must consider the wider impact of a physical store location on both the existing and future estate as well as their digital business and how the supply chain needs to evolve, to create a fully integrated, seamless proposition.