Property company, British Land, believes consumers will prefer a well-ventilated, car-friendly location even after restrictions have eased.
The property group have expressed their interest in more out-of-town retail parks, as they expect consumers will want to shop at open-air locations where there is access by car, even after the lockdown measures are eased.
In addition, the company suggested that more warehouses are needed as a result of the booming demand for online shopping.
According to the firm, retail parks are well connected and affordable to retailers, as they can facilitate click and collect, returns and shipping direct from stores. These trends have accelerated, as rates of online shopping has increased, as well as consumers feeling more confident in visiting open-air locations that can be accessed via car and where social distancing can be easily managed. They also commented on the growing demand for warehouses to accommodate same-day delivery.
The company does not yet know whether the pandemic will have a lasting effect on consumer behaviours and business strategies. It is important that firms keep a close eye on the next few quarters as that is when it will be discovered what habits have become permanent since the pandemic.