Retail Continues to Rebound

Following a period of headwinds caused by the pandemic and consumer reliance on e-commerce, the Winter 2023 Survey points to signs of recovery in the retail market. Panelists identified three key factors that are creating optimism in the sector:

• New housing development driving demand for nearby retail options;
• Return to the office, albeit limited, and growth in tourism leading to retail demand in metropolitan areas; and
• The reconfiguration of existing retail establishments adapting to open-air, post-COVID concepts to attract new customers.

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