A rise in supply commonly dampens occupancy rate. Nevertheless, there is a number of benefits when supply increases, such as more employment opportunities and wage growth over inflation, which in turn implies a confident business environment.
Nowadays, big retailers are experimenting with smaller stores, and millennials seem to be the driving force behind such changes. Millennials are seen to spearhead evolving consumer behaviours.
E-commerce and social media are becoming intertwined. However, speaking of digital-gone-offline business opportunities, pop-up shops are gaining momentum. Temporary storefronts promise to provide an experience that will attract shoppers to show up and make a purchase. To sustain themselves from such a dynamic market environment, retailers should start providing delivery service and becoming more efficient with smaller outlets.