The Australian shopping centre industry is, in many ways, a world leader. Our shopping centres are authentic and strong. Across the country we see highly productive, actively managed businesses constantly changing and improving to meet consumers’ and retailers’ needs alike.
In the retail industry, perhaps more than many other industries, there is a relentless need for innovation and improvement. New sources of revenue, new ways to add value, and cost reduction in a low growth environment are just a handful of the challenges Australian shopping centres have to handle. New perspectives, ideas and experiences are key to tackling these challenges.
We can pick up new ideas, trends and experiences from all over the world, but North America is a particularly bountiful source of valuable insights. Given Australia’s retail strength, learnings from overseas tend to be subtle but extremely useful.
Here we highlight five of the key areas of interest to retail property professionals about which the North American experience provides useful insights.