Abstract:
Online retail has grown substantially over the years both globally and in South Africa. Technology continues to impact, influence and shape how and where consumers shop. The South African shopping Centre industry is the 5th largest in the world and houses South African retailers who account for over R900 Billion ($61 Billion) sales revenue or 15% of the GDP.
This report investigated digital disruption in retailing, its impact on the South African Shopping Centre industry and the available strategies that may be employed to counteract any negative impacts. A desktop literature survey followed by qualitative analysis was employed in carrying out the research.
The research found that digital disruption was causing a change in consumer behaviour that leads to a reduction in demand for retail space and lower rentals and retail property values. Available strategies to counteract these negative impacts were found to include a customer centric retail property business model, Shoppertainment, leveraging technology, repurposing shopping centers for other uses, developing green shopping centers and agile property management.
