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What is the ‘new normal’ for Large Format Retail?

The way we purchase online and in store has changed. So too, has what customers are looking for when it comes to a ‘Large Format Retail’ experience.

Buchan Principal and Sector Lead – Precinct Phil Schoutrop joined peers at the Large Format Retail Association 2022 Forum to discuss the ‘new normal’ in Large Format Retail.

Robust discussion at the Forum centred around the shift from traditional ‘Big Box’ to the ‘Lifestyle’ orientated retail experiences and the expectations of customers.

This shift has seen a notable change in customer perception, from ‘value from dollars’ to ‘value from experience’, and with it, new adjacencies for Large Format Retail led by Health, Wellness, Leisure and Entertainment.

Moderator LFRA CEO Philippa Kelly was joined on stage by (L to R) Phil Schoutrop – Principal, Sector Leader – Precinct, Buchan; Sam Pinchbeck – LFRA Director and General Manager Property and Store Development, Super Retail Group; and James Scott LFRA Vice President and General Manager Property, Harvey Norman.