- January 1, 2021: Vol. 13, Number 1

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The future of retail is set to embrace the physical and digital world

by Jennifer Molloy

The retail industry in Asia Pacific is poised for tremendous change over the next decade as the COVID-19 pandemic accelerates technological transformation, resulting in physical and digital platforms converging to meet consumer demand in terms of convenience, according to CBRE’s The Future of Retail – A View of 2030 report, released in November 2020.

The report’s key themes include:

Brick-and-mortar retail is here to stay: While the pandemic has accelerated transformation in the retail industry, retailers and landlords in the Asia Pacific region have been — and will continue to be — adoptive as the industry undergoes many structural adjustments.

While occupier respondents are generally more optimistic than landlords and investors, some survey participants believe insufficient high-quality retail space exists — particularly space suited for experience-oriented stores — to meet demand.

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