SACSC Congress 2024: A Journey Through Retail’s Transformative Trends

The SACSC Congress 2024 was a beacon for those navigating the ever-changing retail landscape. This year’s event gathered a diverse assembly of industry leaders, innovators, and visionaries who shared invaluable insights into the forces reshaping the retail world. For Broll Property Group, its clients, customers, tenants, retail partners, brokers, and staff, the congress offered a treasure trove of knowledge and inspiration.

As the retail industry undergoes profound transformation driven by digital advancements, shifting consumer behaviours, geopolitical uncertainties, and the enduring impacts of the pandemic, Congress plotted a path forward. Retail leaders are now faced with the challenge of either adapting their business models or completely reinventing them to stay ahead in this dynamic environment.

One of the significant trends discussed was the rise of MultiBrand Platform models. These models are opening new doors for growth and offering innovative ways to engage with customers, reflecting a shift towards more integrated and cohesive brand experiences. Alongside this, the concept of circular retail emerged as a crucial element in fostering sustainability. With the second-hand apparel market set to reach $350 billion globally by 2027, embracing circular retail practices can position brands as champions of eco-friendly commerce.

Social shopping, which is projected to become an $8.5 trillion channel by 2030, highlights the importance of direct-to-customer interactions and the integration of social media in retail strategies. This trend underscores the evolving nature of customer engagement and the potential for brands to connect with their audiences in more personal and impactful ways.

The Congress also shed light on a notable shift from a zero-sum approach to a collaborative mindset in retail. The emergence of turnover rents, co-investment opportunities, and data sharing signifies a move towards more synergistic growth strategies, fostering stronger and mutually beneficial partnerships.

In a digital landscape increasingly marked by rising costs and complexities, the challenge of optimizing digital marketing strategies became evident. The rise in Google search CPCs by 40-50% over the past five years emphasizes the need for refined digital strategies to maintain competitive advantage.

At Broll, we are always learning, innovating and implementing strategies to stay ahead of the curve and lead the way. We are always innovating and have already expanded our property services to include facilities management, occupier services, an Energy Business (EWS), risk management, and advanced technology solutions. Our commitment to leveraging technology to enhance physical retail spaces and strengthen partnerships with top landlords reflects our dedication to staying ahead in the evolving retail landscape.

The Congress sessions offered deep dives into various aspects of the industry’s future. Graeme Codrington urged leaders to embrace strategic imagination to navigate change, while Jacques Nienaber emphasised that high-performance teams thrive on shared goals and trust. Jeremy Gardiner highlighted the need for investors to anticipate the impacts of political and economic shifts, and Jurgen Gaiser & Erik Schimkat discussed the importance of co-creation in crafting vibrant retail environments.

The evolving role of physical stores, as discussed by Jack Stratten , reveals how they are transitioning beyond traditional sales functions to enhance customer experiences and brand engagement. Generative AI, explored by ShiSh Shridhar, promises to revolutionise customer interactions and operational efficiency, driving growth in retail.

The Congress also tackled the importance of strategic partnerships and data-driven decision-making. Josephine Baliah & Michael Clampett underscored how data can refine leasing decisions and mitigate tenant risks, while Giuseppe Stigliano discussed the impact of AI-to-AI exchanges and decentralised transactions on retail frameworks.

As we continue to adapt and innovate, the insights from SACSC Congress 2024 are certainly an influence in guiding a re-think and adapt strategy. We are committed to integrating these trends and best practices to drive sustainable growth, enhance customer satisfaction, and foster strong partnerships. By staying informed and embracing change, we aim to lead the charge in navigating the future of retail.

As always, there needs to be a moment for ‘Time-Out’ where we engage socially to foster stronger bonds with our clients, tenants, landlords, partnerships, industry professionals and our team.

Thank you SACSC for another excellent industry event!