The issue of where and how we consume has been a pillar of real estate for hundreds of years. Its significance can be traced at least as far back as the Middle Ages and the emergence of the merchant class, when the purchase, sale and renting of shops became possible among “commoners”.
Today, household consumption of goods and services accounts for around half of gross domestic product in many developed markets.1 In some instances the figure is notably higher. This alone tells us that various sectors are likely to be affected by evolving patterns of consumer behaviour – and those patterns are now being disrupted at an unprecedented rate.
