Revo reveals retail and leisure vision for the next decade

Revo has launched its 2034 Industry Insight Report at its Revo 2034 Industry Insight Reveal conference. The report presented the opportunities and challenges shaping the future of retail and leisure real estate in the UK. The future of the industry, it argued, will be shaped by the interplay of political stability, technological innovation and climate change adaptation, alongside demographic changes, including a growing, ageing and increasingly diverse population. The report identified three key factors set to define the next decade: economic policy, urban infrastructure and changing socio-cultural dynamics. It said these forces will determine how the sector adapts and thrives. The three scenarios that will shape the next decade  1. The Next Normal: Retail and leisure spaces will evolve gradually within a stable political and economic environment. AI will enhance efficiency, while climate change will bring challenges. Spaces will focus on community needs and adaptation, while diversification will rebuild investor confidence. 2. Rescuing Retail and Leisure in Polarised Britain: A Sector in Crisis: This bleak scenario depicts a decade of stagnation, with faltering economic and social progress hollowing out town centres and high streets. Investor confidence will decline, climate impacts will worsen, and societal tensions in retail spaces will rise. 3. Green, Good, Smart Places: A Bold Future: This scenario envisions rapid technological advancements and sustainability reshaping retail, with AI, robotics and green initiatives driving innovation. Smaller community-oriented spaces will replace traditional formats, focusing on health, culture and wellness for a vibrant, sustainable future. Overall, the research concluded that the future of retail and leisure real estate depends on action from both public and private sectors. It said to succeed, the sector must evolve by transforming spaces into community hubs and mixed-use developments that offer new experiences. Additionally, governments must support the sector’s transformation through policy alignment and co-investment. It said climate resilience is equally crucial, with investments needed in sustainable infrastructure, adding that the sector has a unique opportunity to shape the future of communities by adapting innovation and collaboration, contributing to economic growth, social wellbeing and sustainability. Read more: Warnings and opportunities as Revo maps next decade of retail and leisure Image from Revo