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Our customers require more choice and excitement, and these centres should have their own sense of place - which brings us to the main challenge.To significantly change the current format we have to challenge the agents' rule book and look to provide two-sided street retailing, with leisure and click-and-collect embedded within the retail.
Even our garden centre operators have recognised the importance of change and diversity, increasing the variety of their products and creating a day out experience. Most retail parks provide a large-box format for the retailers, and there is a debate as to whether this size requirement is sustainable and whether retailers may be moving to smaller stores.
Our lifestyles are also changing, but what evidence do we have to support this statement?
Many of the younger generation will not be able to afford to purchase their own home and will become serial renters, which will inevitably take a huge chunk out of the DIY market.
I believe smaller formats will follow, as we have already seen with our food stores, even if some of these are seen as showrooms that rely on online purchasing or click-and-collect.
This will offer up the opportunity to introduce additional retail variety to complement the existing offer.
They provide good visibility from the principal highway, surface parking out front and dominant retail signage to highlight the stores.
Oh, and don’t think about putting a tree in the car park to soften the environment as this will only get in the way visually.They watch TV and films via Netflix, they read books on a tablet or a Kindle, and their art consists of their bike hanging on the wall.What is clear is that they require excitement, and the growth of internet dating sites demonstrates that they get what they want when they want it.The UK’s retail park format has grown over the last 35 years and accounts for a significant amount of the UK’s overall retail floor space.Generally positioned on the outskirts of towns to provide cost effective space for the purchase of bulky products, or DIY goods, the format has evolved over time to include a wide range of complementary retail space in addition to the acquisition of bulky items.Now, in light of the above, let’s look at our retail park offer and question whether this will excite the younger generation who are the shoppers of the future.