Having examined the development of retail destinations in more mature e-commerce markets like the UK and the US, the question arises: will we see a similar development in Germany? We say: yes.

At present Germany lags the UK in terms of e-commerce penetration but with it forecast to reach 16.3% by 2023, similar to that now seen in the UK, it is only a matter of time until Germany will face the same challenges.

This is already becoming evident with some retailers trying to use their stores differently and/or rightsizing their portfolios. At the same time we are seeing occupational demand intensify for prime strategic and/or strong convenience led locations. In contrast demand for secondary locations is softening.

In response landlords and investors need to be thinking about what they can do with their retail holdings in order to mitigate these issues where they exist, but also consider what opportunities these structural shifts could offer. In light of this we have considered, from a very high level perspective, what these drivers of change could mean for different types of retailing in regards to their strengths, the transformational strategies that could be adopted and the investment perspective. All of which are detailed below. However, we appreciate that the the specifics of location, size, mix, ownership and design, amongst other factors, will have a major bearing on these considerations.

We hope this paper raises thoughts and debate to the future of retail places and would be delighted to advise you on future strategies on how to reposition or repurpose retail property and what the investment opportunities could be.

_{Read the articles within Spotlight: The Evolution of Retail Destinations below.}