Evolution of the Leisure Experience - the outcome!
Retail property and placemaking enthusiasts from across our industry were up bright and early last week to attend the London launch of our latest research piece...
...produced with Savills, focusing on the evolution of the leisure experience and the opportunity, plus challenges, it presents for us all.
Representatives from the likes of Cushman & Wakefield, Hammerson, Hines, intu, JLL, Lendlease, Primark, Savills and many more were in attendance to better understand the evolving face of the leisure and retail sector, and the speed with which changes typically occur.
We were joined by a line-up of experts, including:
Presentation: Tom Whittington, Director Retail Research, Savills
Chair: Ashley Blake, CEO, Otium Real Estate
Nick Knapman, Partner, DAC BeachcroftSarah Fox, Head of Restaurants and Leisure, Hammerson
Adam Blaker, Development and Property Director, Leon Restaurants
Mark de Quervain Sales & Marketing Director, Rock Up
There is no denying that the expansion of food and beverage (F&B), cinema and health and fitness (H&F) operators has been unprecedented over the last decade.
With growth comes challenges and the report highlights the obstacles currently facing the industry, with increasing costs and staff shortages being the most prominent.
Our report found that spending levels across retail, F&B and non-food leisure continues to grow across all sectors, with an expected increase of around 4% annually forecast for the next 10 years.
Whilst it is evident that consumers are willing to pay for a consistently good experience, our panel highlighted the importance that needs to be placed on F&B and leisure operators to constantly evolve in the face of change in order to remain sustainable.
Ashley Blake shared a worthy example of this in fast food giant, McDonalds, with the hugely successful chain introducing digital kiosks into their stores in order to evolve their offering and continue to meet consumer demand. The kiosks have allowed for an increase in the speed of sales/transactions, resulting in an increase of 13-17% in consumer spend.
Interesting facts and stats.
- 75% of leisure/F&B growth in the last 5 years has been from change of use, not new development.
- 72% of leisure units are on high streets.
- Frequency of eating out weekly is at a 4 year high for 18-44 year olds
- 54% of the UK population have used an app when ordering takeaway, with the statistic increasing to 83% for Londoners.
The report also explored the role of technology in helping to enrich the overall customer experience. It was found that the three most universally important things to the consumer that should embody every leisure visit are:
The panel agreed that technology has become embedded within the F&B and leisure industries, with operators continuing to introduce online booking systems, mobile payments and offer delivery services in order to meet the above criteria and take their customer service to the next level.
“Technology is an enabler, but it’s all about what you do with it” – Mark de Quervain
Given the size of investment often required to introduce new technology, the panel agreed an importance should be placed on thorough testing and implementation procedures to ensure that the intended benefit is provided to all parties.
And that’s a wrap! We’d like to say a special thank you to our brilliant panellists and everybody who attended. If you missed out, read on below to find out how you can learn more.
Want to find out more?
Missed out on our seminar?
We’re heading to Glasgow on Tuesday 4 September to launch our research across the UK. And the best part is, the event is completely free for Revo members! Email email@example.com to book your place or find out more.
Not a Revo member? There are a limited number of place available for non-members, email firstname.lastname@example.org to book your place.
Free or discounted event attendance and access to exclusive research reports and findings are just a few of our many membership benefits! Find out more about becoming a Revo member here.