Repurposing Retail: Bringing Empty Department Stores Back to Life
Retail is changing. Hastened by COVID-19, the high street is undergoing one of the largest evolutions it has seen for decades and the department store is no exception. Empty retail space is accelerating at a rapid rate. A recent report from Savills suggested that retail in the UK is over spaced by as much as 40% , begging the question, what can we do with these underutilised assets?
Retail Is Changing Shape, But We Can All Move With It
Online retail is growing fast and there are thousands of empty stores lying dormant in retail centres across the UK, but already certain landlords are bringing them back to life through considerate development. Read on to find out more
New stores deliver retailers an average 12% uplift in online sales
Revo launches ‘Tomorrow’s World: Retail on the line’ omnichannel research report
A Bright Future for Retail
The demise of traditional shopping habits, the rise and rise of online, shrinking profits for department store operators, retailers seeking to renegotiate leases and developers rethinking their plans for shopping developments whilst business rates can be crippling are just some of the challenging factors that retail world faces.