The Rise of Nice Fragrance
Sales of fragrance grew by 1.6% last year in the UK with consumers spending £1.25bn on perfumes. However, sales of celebrity endorsed fragrances fell by 22%; not great news for the likes of One Direction and David Beckham. This would suggest that consumers are turning their back on the “tackier”, mass market element of fragrance. In sharp contrast to this, sales of higher end fragrances are flourishing.
Food and The City
Once upon a time, food and eating out in Britain would conjure up thoughts of The Wimpy Bar and the local ‘greasy spoon’. However fast forward and Briton’s palettes have become much more discerning.
The F&B Market - Sustainable Growth?
The UK food and beverage market has undergone a period of sustained expansion, which has not been replicated in other retail and leisure sectors since 2008. As the number of new restaurant entrants to the sector has grown and unit numbers increase, there have been some questions over the sustainability of this growth.
Future Retail Destinations - take it from me, it’s all about learning from experience
Why is the UK good at driving innovation? It's all about the mature market. You can with certainty class the UK as having a mature retail property market; but conversely this has led to innovation on a big scale – and the world is looking on.
Asia: Changing places. At pace.
As I’m discovering. And two leading examples of dynamism and fast moving cultures are Tokyo and Seoul. Our key destinations for our forthcoming study tour. A trip which will take between 20 and 30 senior retail property professionals on journey of a lifetime.
Plus Ca Change, Plus C’est La Meme Chose – As our probably former European partners like to say
A long career in retail should prepare you for change, nothing stays the same for long. Comparing a town centre goad plan from when you started your career, mine in 1993, with today, brings swift realisation that every grey hair and wrinkle has been earned in this most dynamic, rewarding and sometimes brutal of commercial real estate markets.
We're in the midst of a revolution. Isn't it fantastic!
I am delighted to start 2017 as President of Revo at this pivotal time for the organisation and the whole retail property and place making community we represent. We are experiencing tumultuous times not least because of the fast changing and rather startling political landscape.
It's only been 10 years...
Since the credit crisis of 2007. What a decade! It's time to be positive. Thankfully we’re not in the same league as then, but it’s a shaky start to the year! High consumer debt; Low growth; Political uncertainty radiating from the US and Europe, and finally with the UK adding to the flux by a subject that will dominate our headlines whether we like it or not, Brexit.
2017: A few thoughts
So we’re off again. Back at the races, and hoping for fewer upsets this year. Although I have no doubt that it will be full of excitement, opportunity and of course the most overused word of the moment, uncertainty.