In an exclusive report by FSP and twentyretail on the future of the UK’s retail market, the industry’s leading figures call for more dialogue between investors, landlords, developers and occupiers to help the sector navigate one of the worse economic periods in its history.
The report’s panel believes that by talking with each other, the market will be able to tap into all future opportunities and solve problems more quickly.
By 2020, it is predicted that shopping centres will become more locally focused, and that older shoppers – the over-50s – will become a vital consumer demographic. The middle market will continue to be squeezed while, increasingly, retailers will have to look abroad for expansion.
The report reveals that the world of retail is changing faster than ever, partly as a result of the economic crisis, and partly because of the ever-increasing use of technology and the internet.
But if the sector picks up, and aims to take advantage of the very latest developments, then its future should be both secure and bright.
Buckets and spades
Yet another retailer has ventured across the pond from the US to open a store in the UK. Kate Spade is an uber-trendy New York handbag and fashion brand that counts today’s coolest celebrities among its fans.
From a pop-up shop in London’s Covent Garden, the retailer hopes to branch out across the UK and Europe.
While the price of the company’s bags may be best described as eye-watering – up to £900 – the good news is that the UK is still seen as the place for international brands to launch in the Continent.
Here’s hoping that many more follow in Kate Spade’s (expensive) footsteps.
