Retail developmentFor the 30-odd years following the end of the Second World War, retailing was repeatedly heralded as the most innovative and changeable sector of the property market. New types of shop development emerged one after another: department stores, variety shops, supermarkets, covered shopping precincts, hypermarkets, superstores, district centres, discount warehouses, and city-centre 'metro' stores. Preferred locations shifted away from the high street, to adjacent central-area sites, out-of-town to greenfield sites, back to town-centre and edge-of-town locations and even 'sideways' onto industrial estates. Modern forms of merchandising have altered the shape, size and layout of shops of all kinds, and advances in the methods of distribution have affected the design and position of retail outlets. Nevertheless, there remains considerable volatility in the shop market and a continuing dynamic in the field of retail development.This chapter is divided into five sections, as follows:
|• the context for retail development|
|• types of retail development|
|• shopping centre management.|
The context for retail developmentAs consumers have become increasingly discerning, affluent and mobile, so retailers have had to respond to changing market conditions and opportunities. In forecasting future trends in shopping and shop development it is worth recording briefly some of the more significant factors that have brought about the process of change in retailing over recent years. These can be summarized as follows:
|• Food retailing on any scale has almost disappeared from many traditional town centres as superstore operators have relocated to locations on the edge of or out of town, where they can find sites capable of providing 4645-5574 m2 (50/60000 ft2) or more of space with extensive carparking facilities. |
Questia, a part of Gale, Cengage Learning. www.questia.com
Book title: Urban Planning and Real Estate Development.
Contributors: John Ratcliffe - Author, Michael Stubbs - Author, Mark Shepherd - Author.
Publisher: Spon Press.
Place of publication: New York.
Publication year: 2003.
Page number: 415.
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