The COVID-19 outbreak has accelerated the trends previously observed on the Belgium and Luxembourg’s real estate market and will contribute to a strong reshaping of the retail landscape, with impact on activity, footfalls, rents and yields. More than ever, retail will be a question of location, positioning, market knowledge and adaptations. Let’s have a look at the Back-to-School 2020 Retail Trends that will probably shape the retail future.
Six months after the beginning of the COVID-19 crisis, we learnt a lot:
In the short-term, the drop-in footfall traffic will dent the retail sales numbers. However, going forward in the mid- to long-term, we do expect retail sales volume growth rates to return to pre-outbreak levels. What’s more, we will see an acceleration and a deeper integration of offline/online omnichannel retail services, given the recognized importance of these platforms for driving retail product and service sales.
These have become important in retail sector but the COVID-19 outbreak has proved to a number of retailers that these tools can be further optimized. Ahead, through best practice use of digitization and data intelligence will help retailers to place a greater emphasis on customer relationship management, in-depth data minig, product personalization and intelligent supply chain management. So as to further improve the customer shopping experience and, ultimately, retail sales performance.
We expect more retailers and shopping centres to change their existing marketing models and adapt it to use live online broadcast channels to not only market their products and services but also improve the overall shopping experience for their customers.
Despite this context, as market leader and thanks to our unrivalled market knowledge, we see new opportunities coming on the retail market, should you be ready to adapt to this new normal. Want to know more about your retail strategy, portfolio optimization, rental renegociation… please do get in touch with our retail experts!
Head of Retail Agency Belgium
+32 (0) 478 96 08 61
Cédric Van Meerbeeck
Head of Research & Marketing
+32 (0) 477 98 11 83
Contact our team for more info about Back-to-School 2020 Retail Trends.