By 8th Nov 2018|
Relevance Rules in Retail
It was interesting to read about JLD Media’s decision to change the name of Shopping Centre Magazine to Retail Destination to reflect the “blurring edges between shopping centres and leisure” and the fluidity of retail property formats.
Their name change follows the release of analysis by Nelson Blackley that says more than 200 UK shopping centres are “at risk of falling into administration” with many, owned by US private equity firms, facing refinancing deals in the near future.
It also coincides with recent headlines about Britain’s Unhealthiest High Streets with the Royal Society for Public Health putting Grimsby at the top of the list. And some see Hammond’s Budget of £1.5bn for a High Street regeneration plan as tinkering around the edges.
On the other hand, retail commentators have also been celebrating Ryman’s 125th year in business and lauding its staying power and relevance and we’re hearing that Ikea is expanding its small store format in response to changing consumer demands.
It’s a mixed bag of news for the retail industry – that’s typical of late – and we believe it’s a positive sign. It means change is happening, that attentions are focused on retail and on raising standards to survive a stage of major transition.
There’s no shortage of news, innovation and best practice for Retail Destination to report on and it makes sense that its name reflects the diversification taking place in the traditional shopping centre. Like so many of its readership, it’s making changes in order to stay relevant.
Similarly at Access Point we know our role in the fast-changing landscape of retail: to support the traders, agents and landlords through unchartered territory and help them rise to the top in a fiercely competitive industry. That means staying relevant, being agile, innovative and understanding of the sector we operate within.
The name of what we do hasn’t changed but commercialisation is without doubt more relevant than ever.