2.3.17

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Object

Grafton Area of Major Change SPD 2017

Representation ID: 32173

Received: 06/11/2017

Respondent: Universities Superannuation Scheme Limited (USS) Aberdeen Asset Management on behalf of Barclays Nominees (Aberdeen)

Agent: Deloitte LLP

Representation:

We welcome the SPD's recognition of the changing face of retail and the wider major trends, there are further challenges facing retail (The Role of The High Street Deloitte LLP, 2015):
-Oversupply - rapid expansion by retailers has led to the duplication of brands in many town centres;
-Affordability - increase in staff costs, rent costs and business rate changes;
-The configuration of retail space has not always managed to keep pace;
-Changed behaviours - consumers are seeking an integrated shopping experience; and
-Digital Acceleration - growth of omni-channel retailing and the growth of artificial intelligence.

Full text:

please see attached letter.