FACT: Big cities are getting bigger. 1 in 2 people in the world today lives in a city. If it weren’t for China (43% urban), Africa (33%) and India (29%), the world would already be significantly more urbanised1.
FACT: About 180,000 people move into cities each day, representing an increase of 60 million urban dwellers annually2 .
FACT: The global urban population is expected to be 6.3 billion by 2050. This equates 70 per cent of the forecast global population3.
With more Europeans choosing to live and work in urban areas, the retail real estate industry is shifting its focus to the modern urban mall. Urban-dwelling trend leaders are linked by interests and attitudes that transcend borders.
This new generation of “Citysumers” is sophisticated, demanding, open minded and connected. But urban dwellers are a fickle bunch—so how can retailers and retail developments reach out and engage with the citysumers?
MORE Vision: giving you visibility
Reed MIDEM’s detailed MORE Vision report explores this phenomenon and asks top industry players how to turn this opportunity into a reality.
Each of these experts offers unique insight and practical advice on how to grab the citysumers’ attention and business—and keep it.
Watch this space for the next MORE Vision!
Every two months, MORE Vision by MAPIC will contribute to the retail real estate community’s knowledge base by exploring a key trend influencing retail property strategy today. Each issue will present a trend, including history, key figures and useful links, along with exclusive interviews with top industry players.
Download the full report:
1) CIA World Factbook (https://www.cia.gov/library/publications/the-world-factbook/)
2) Intuit (http://www.intuit.com)
3) United Nations (www.un.com)