Sustainable retail locations could help brands achieve double-digit revenue growth and inject almost £ 100 million into local UK economies over the coming 10 years, according to a new report.
According to new research conducted by property firm Landsec and Bradshaw Advisory, brands who choose to rent space in sustainable settings rather than typical ones might experience a 13 per cent gain in income over the next ten years.
During the same time period, footfall at sustainable destinations might increase by 6%, resulting in a potential boost of up to £ 100 million for local economies.
According to representative public polls, ‘localism’ is the most important element of sustainable retail among customers – it was crucial for all consumers, but especially for middle-aged people.
Creating job opportunities for local people and employing local suppliers were two of the top five factors of sustainability highlighted by the public.
Consumers polled also desired to see local, independent brands in their neighbourhood shopping malls and high streets.
Leaders and officers from local councils across the UK agreed with the localism theme, emphasising the value of independent retailers “that may be more in tune with local consumers’ needs and are at a size where they could experiment with sustainability initiatives,” according to the research.
Bruce Findlay, the managing director of retail at Landsec, said, “For us to continue to drive value through retail we need an even greater focus on sustainability, ensuring retail destinations remain a platform for opportunities long into the future.”
