1、MARKETCONTENTSp/26p/12p/22p/32p/41p/36p/06The flight to affordabilityDrivers of value growth Page 26Removing the stigma Page 27 Aldi and Lidl Page 28 Diversification and urban penetration Page 29The next phase:smart discounting Page 29The people divide:how demographics will likely split retail marke
2、tsMigration and diversity Page 13Income growth Page 14 Ageing population Page 15Intergenerational wealth transfer Page 16Urban concentration and rural depopulation Page 17Rising single-person households Page18 Shrinking working-age population Page 19Retails new demographic reality Page 19 Blurred li
3、nes evolution of the retail mixDrivers for change Page 22Retail Parks Page 23Shopping Centres&High Streets Page 24 Brands increasingly look to hybrid formats Page 25Prime vs Secondary divide occupational market Pipeline paralysis gives way to optimisation Page 32Tight supply supports occupier resili
4、ence Page 33What are the future opportunity markets in Europe for expansive global brands?Identifying the growth concepts of the future Page 44New international entrants in Europes key citiesAspirational,premium fashion retains top spot Page 37Trade tensions reshape global retail expansion Page 40Se
5、tting the scene in EuropeA fragile recovery Page 07 Elevated savings and a gradual return to consumer spending Page 08Retail sales Page 10p/52p/56Investment:Retail capital market regains its footingRetail investment slowly building mo-mentum Page 52 Yields stability,giving way to compression Page 54
6、Where is the retail journey headed next?E U R O P E A N R E T A I L0203ContentsContentsKEY TAKEAWAYSRETAIL FORMATS BLUR AND EVOLVEOmnichannel strategies and hybrid store concepts are redefining the retail mix,with brands focusing on experience and flexibility.VALUE RETAIL TAKES CENTRE STAGEDiscounte