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Shopping Centers Reinvention: CBRE’s 2030 Predictions
The shopping center of the future is shaping up, in part as a result of the transformative nature of the business, though increasingly as a way to remain competitive and relevant. New insights on the The Future Of Retail 2030 from Los Angeles-based CBRE notes the retail reinvention will involve properties simply becoming destination ‘centers,’ encompassing a mix of uses via the addition of healthcare, educational and leisure uses.
CBRE Global Retail Research Director Natasha Patel says, “Retail will evolve at a quickening pace, reshaping the roles of the shopping center, the gas station, and the store. The speed of change may catch some people by surprise, as the mindset and requirements of the consumer will evolve more quickly than the industry can adapt. This means that investors and occupiers need to get ahead of the changing trends rather than catching up.”
CBRE’s Future of Retail 2030 examined 40 “futurist” insights on how the world of retail will change, amid shifts in consumers’ lifestyles, urban environments, retail operations, logistics and other trends affecting the industry. CBRE revealed the first eight of those trends at MAPIC, the retail real estate conference in France.
Other key report takeaways:
– Focus of traditional gas stations will change as they become important mini-logistic hubs, including serving as collection points for online shoppers
– Ownership of electric and hydrogen-powered vehicles will become more common, and there will be an increased need for fast-charging points
– Smartphones will no longer exist, but mobile commerce will grow, requiring retailers and landlords to provide digitally enabled environments that can leverage consumers’ connectivity
– Independent stores and F&B operators will be more prevalent
– The in-store checkout desk will be replaced by faster cashless ways to pay
– Fitting rooms will help as opposed to hinder the shopping experience
– The number of wellness establishments will grow
– Retail will be leisure
For comments, questions or concerns, please contact Dennis Kaiser
