Future Fit Retail

Future Fit Retail focuses on anticipating future retail trends, pioneering new concepts, Sustainability-Orientated Innovation (SOI), and other relevant sustainable innovation themes that have been championed by our Marketing Department and Innovation Office. We will create shared value by supporting our shopping centres, tenants, investors and partners in adapting to future retail trends that respond to changing consumer expectations, and exploring the interface between sustainability and innovation to boost footfall and sales.

Operating Context

  • Retailers need to adapt to rapid technological advancement and evolving consumer behaviour
  • Role of the store and nature of the retailer/customer relationship are changing
  • Greater demand for customised retail, unique products and hands-on experiences
  • Pressure on retail brands to be transparent and socially responsible

Our Approach

  • Develop Sustainability-Orientated Innovation (SOI): conduct research and provide thought leadership into how sustainability can differentiate retail destinations and increase football and sales
  • Work with partners and clients to adopt innovative and sustainable retail strategies, creating vibrant destinations and dynamic experiences
  • Identify opportunities to integrate community activities into retail destinations, making places where people meet, shop, play, participate and stay

Intended Results

  • Promote new concepts that deliver unique experiences
  • Create a ‘sense of place’ and a vibrant community in the shopping centres we manage
  • Promote sustainable consumer behaviour through retail innovation
  • Support new business ventures; small and local businesses

Shared Value Created

  • Stronger Intellectual Property and brand
  • Higher quality service for clients & tenants
  • Unique experiences for visitors
  • Stronger operational performance
  • More sustainable and innovative retail concepts
  • Community engagement

Our performance to date

As we define our key performance indicators for this focus area, we will draw on our previous activities with respect to sustainable lifestyles and related innovation and marketing innovations. Here, we can highlight some of the following achievements:

  • The development of innovative retail concepts such as Coop Stores and Rising Stores that encourage entrepreneurship and enhance our offer to consumers by offering new brands and products.
  • Integration of sustainability driven visitor communications that promote products with healthy, ethical, green and local features in our digital Agenda communications platform.
  • Research to understand how evolving trends will impact our, and our clients’ businesses, and the development of a vision for the retail destination of the future.

More information

For more information on our approach and historical performance, download our 2016 Economic, Environmental and Social Report here. For examples of our Future Fit Retail initiatives in action, see case studies.

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