Hammerson launches its “Reshaping of Retail” report in conjunction with retail consultant Conlumino.
We reveal we’re entering a new era of buying behaviour and one of the ‘Considered Consumer’. This is a change of mindset to the pre-recessionary times.
The rise of smartphones and an ageing population will drive faster retail sales growth over the next decade, but only those retailers which succeed in remaining relevant for tomorrow’s consumer will benefit.
The report expects average annual growth in retail spending of 2.4% between 2013 and 2022, an improvement of the 1.9% achieved over the past decade. By 2022, retail spending will have reached £377bn, up 26% on current levels.
However, the rate of spending growth remains well down on that achieved through the 1980s and 1990s, and retailers will need to be on top of their game to thrive in what the report calls the age of ‘Considered Consumption’ over the decade ahead.