European retail property has held up well as an asset class during the crisis, but it is hard not to ignore the winds of change that are sweeping through the sector. In the latest chapter of its Retail 2020 study entitled 'The New Retail Rulebook: 5 Key Lessons from the Future', Jones Lang LaSalle predicts that by 2020, more than 50% of all non-food retail transactions will be digitally influenced in mature markets. Another forecast: up to 30% of retail space in developed markets is potentially obsolete in its current form. And finally, a wake-up call to landlords in mature markets: up to 15% of shopping centres could be unsellable from 2018 in certain countries such as the UK.
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