Main Streets Across the World 2024

Considering these factors, it’s clear that retailers must adopt more innovative, agile and flexible strategies to remain competitive in today’s market. The same is true in how they are approaching real estate commitments. Finding, securing and furnishing the optimal location requires a significant amount of time, investment, energy, and sometimes, patience. Given the sensitivity of brands, particularly luxury ones, to location, it’s little wonder that more brands are acquiring their own flagship locations. This ensures long-term security of tenure as competition for prime space intensifies. Agility is evident elsewhere. The relationship between tenants and landlords continues to evolve. Forward-thinking landlords recognise the concept of “space as a service,” which can offer wider economic and social benefits. However, competitive tensions will aways persist, even as they fluctuate over time. Scarcity of quality labour continues to prevail, warranting a new look at how to build loyalty within and outside of a brand. The need to evolve is everywhere. The competitiveness of the retail sector will not diminish. Finding space, finding staff and finding customers will remain challenging into 2025 and beyond. The most successful players are those who do not settle for the way things have been done but relentlessly drive the industry forward. EMBRACING AGILITY AS THE FOUNDATION OF SUCCESS

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CUSHMAN & WAKEFIELD

MAIN STREETS ACROSS THE WORLD 2024