March 2026
At a recent CACI Retail Briefing panel, I was asked what I see as the biggest shift in consumer behaviour forcing place makers to rethink investment decisions right now.
My answer was the influence of social media.
Not because it is new, but because it has accelerated the speed at which consumers judge what feels relevant, desirable and worth their time.
Concepts can gain momentum very quickly. They can also balloon before it is clear whether they represent a lasting shift or simply a passing fad. That makes life harder for place makers. It creates a consumer who is quicker in their judgements, less predictable in what they value, and more likely to shape the perceived relevance of a place in real time.
That has an important implication for investment decisions in tenant mix.
It means reacting to demand is not enough. Investors and place makers need to look carefully at whether a concept is genuinely relevant to the consumer they are trying to attract, and whether the data supports that overlap. It also means being careful not to judge too quickly based on personal instinct, particularly when we are often not the target market ourselves.
At the same time, this is not an argument for chasing every trend.
Successful places are still built on taking a longer-term view and curating a tenant mix that appeals to the consumers who do, should or could engage with the place. This creates a credible platform for sustainable rental growth.
The challenge is knowing when to move. As an industry, we need to improve the efficiency with which we bring new concepts into places. Not necessarily by always being first mover, but by being quick enough to capture relevance where it matters, without simply following a waning star.