‘While just one of a number of factors driving the market, e-commerce is having the most significant impact on the European shopping centre market.’ according to a new survey by Cushman & Wakefield launched at MAPIC. The survey reveals opinions on the impact of e-commerce among the largest and most active property owners and managers representing nearly 1,500 centres (> 20% of the total European market).
A total of 68% of the respondents to the survey either agreed or strongly agreed that e-commerce is the most significant factor impacting the sector. Others surveyed see it more as an enabler for bigger macro forces, such as demographics, economics, sustainability and globalisation. However, according to Justin Taylor, head of retail at Cushman & Wakefield in EMEA , “Whilst we recognise that e-commerce is not the only factor driving the market, it is embedded in every aspect of retail from value and quality through to brand and therefore in our opinion, it is transformational for the industry.”
With regard to center size, the surveyed revealed that mid-sized schemes are thought to be most at risk while both larger destinations and smaller convenience centres have more potential to withstand or even benefit from e-tailing, particularly if well positioned and with a clear identity.
