In an age where sustainability is paramount, property giant Landsec, renowned for its ownership and operation of iconic retail destinations like Bluewater, Lakeside, and St David’s malls, presents a groundbreaking report. Collaborating with Bradshaw Advisory, their study uncovers the lucrative potential of sustainable retail sites—a domain that not only benefits the planet but also supercharges retail sales.
Over a decade, brands nestled within sustainable retail destinations could experience a remarkable revenue boost, potentially reaching a staggering 13%, as unveiled by the ‘Potential of Sustainable Retail’ research.
Furthermore, these eco-conscious havens could witness a substantial 6% increase in footfall, translating into an impressive £100 million injection into local economies—a figure poised to uplift communities.
Landsec’s comprehensive research seeks to unravel the essence of sustainable retail as perceived by key industry influencers—consumers, brands, and local authorities. It aims to shed light on how sustainable retail can foster a thriving retail environment that not only serves the community but also champions our planet.
Public opinion polls underscored ‘localism’ as the pinnacle feature of sustainable retail among consumers. The public voiced their desire for sustainability to translate into job opportunities for local residents, utilizing local suppliers, and a preference for local, independent brands gracing their shopping centers and high streets. This preference resonated strongly among middle-aged consumers.
Leaders and officials from diverse local authorities, spanning Leeds, Portsmouth, Glasgow, Manchester, and London councils, including Camden, Westminster, and Lewisham, align with this sentiment.
Bruce Findlay, Managing Director – Retail at Landsec, emphasizes the importance of a heightened focus on sustainability to sustain the retail industry’s value. He highlights the necessity for collaboration with brand partners to collectively achieve sustainability goals and underscores the need for closer engagement with local authorities to address unique community needs. In his view, this harmonious approach can pave the way for retail to become an environmental steward, a source of opportunities for local communities, and a continual driver of value for our cities.
