Creating Resilience
European Retail Occupier Survey 2024
October 18, 2024 5 Minute Read
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Overview
CBRE surveyed over 60 of Europe’s largest retailers, with a combined worldwide store portfolio of over 130,000 stores. We asked about their plans for their physical store portfolio, views on omnichannel retailing and e-commerce, factors that drive store performance, artificial intelligence (AI), and ESG considerations.- Expansionary sentiment is strong among retailers. Over 70% of respondents plan to expand their store portfolio.
- Retailers rated brick-and-mortar retail as more effective than online across all but one metric. Brick-and-mortar’s strengths were most apparent in consumer engagement and cross-selling products.
- Regular visits from the local catchment, a critical mass of similar occupiers, and free car parking are the top three factors that boost store performance, according to occupiers.
- While AI is being actively explored by a majority of retailers, only around a quarter have already implemented AI solutions.
- ESG considerations are high on the agenda. A majority of occupiers believe that green leases will be included in lease negotiations within the next three years.
Expansionary sentiment increasing
72% of respondents plan to expand their store portfolio, up from 57% in 2022.
Figure 1: What are your company's plans for your physical store network in the short-term?
Brick-and-mortar seen as more effective
Retailers rated brick-and-mortar as more effective than online retail overall, and particularly for consumer engagement.
Figure 2: Please evaluate the performance of the following aspects of brick‑and-mortar and online retail
Physical retail will remain key to strategy
97% of retailers either agree or strongly agree that physical retail will remain a key part of their strategy. 79% believe that brick-and-mortar stores increase online sales within the local catchment.
Figure 3: To what extent do you agree or disagree with the following statements?
Note: Percentage of respondents that either agreed or strongly agreed with the statement
Get in touch with our team today for the full report and gain insights into the key considerations for retail occupiers.
Contacts
Chris Gardener
Managing Director, Head of European Retail
Alex Ozga
Associate Director, European Industrial & Logistics and Retail Research
