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Asia Pacific’s airport retailmarket is projected to grow to US$33.8 billion by 2026, driving the global market to $63.4 According to GlobalData, the growth will be driven by the increase in retailspace and passenger numbers as cross-border travel resumes and the relaxation of lockdown and duty-free regulations.
Trends in the Commercial Investment Market The retail real estate market was a focal point of this years MAPIC, with a strong emphasis on investors perspectives regarding retailmarket trends and outlooks. These sessions revealed an optimistic vision of the resilience of retail as an asset class.
million sq ft of new retailspace is due to open by the end of this year. This is an international as well as national trend, and we await some of the new leisure trends that are starting to emerge that will help drive the next generation of customerengagement.”.
The evolution of the retailmarket has created a chasm between the online and offline experience. The transactional nature of e-commerce has created a consumer expectation of ultra-convenience, which retailers are incorporating at all levels of the purchase process. Improving In-Store Experience.
Those in the retailspace know that how and what customers buy has changed drastically over the past decade. It’s crucial for small and large businesses throughout the retail industry to know what’s next. Here’s a look at retailmarket trends in 2021 and beyond.
For major retailers, physical stores serve as hubs for customerengagement, offering services like in-store pickups and returns. Challenges Facing Physical Retail Brick-and-mortar stores face challenges, including high operational costs, the need to maintain inventories, and the pressure to innovate constantly.
AR allows customers to virtually try products before purchasing, enhancing customerengagement. Brands that integrate these technologies effectively can expect to lead in the new retail landscape. Subscription models create recurring revenue streams and build customer loyalty.
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