Retail culture change needed

Author: Ibrahim Ibrahim

Categories: Future of Retail, Marketing Strategy
Tags: Portland Design Associates Ltd, Procter & Gamble, Unilever
Ibrahim Ibrahim: "I think what’s driving the change is expectations from different types of - let’s call them tenants, different types of “retailers”.  And there will be fundamentally two new types of tenant, there will be the pure players, online brands that will see retail, retail shopping centres, retail parks, high streets as an important channel to come into and to create engagement – physical engagement with their customer tribes, let’s call them because that’s what they will be.  But their demands will not be 10 year leases in concrete boxes in shopping centres, their demands will be spaces that are programmable, that are changeable, that are there for a day, a month, six months.  The second is FMCG brands, Procter & Gamble, Unilever, all the guys who have got consumer brands will be coming more and more prevalent in shopping centres and in developments.  And again their demands will be different.  So for shopping centre owners, for asset owners, their culture will change, will have to change, particularly their leasing culture and their leasing model."
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