A week has passed since the Lunson Mitchenall team has returned from another inspiring pilgrimage to Cannes for the 2024 MAPIC conference. This year’s event once again demonstrated its unique ability to bring together global leaders across retail, leisure, and real estate.
From the numerous occupiers, investors, and landlords we met, the sentiment across the sector was optimistic—despite the challenges posed by the recent UK Budget, which has added a notable cost burden for landlords and occupiers alike. While this may temper new store acquisition numbers in the short term, the consensus is that it’s more about recalibrating targets than pressing pause altogether.
MAPIC’s panel discussions were particularly compelling this year, with an emphasis on themes that continue to define the future of our sector: the flight to prime locations, experience-led retail, and the human connection that underpins successful high streets and destinations. These themes resonate deeply with us at LM, and it’s encouraging to see global alignment on the importance of reimagining retail spaces to thrive in a rapidly evolving market.
It was also heartening to see the UK represented so strongly at the conference, with organisations like Revo – Retail. Property. Community. present on the UK stand. The UK was arguably the first to be hit by the seismic changes retail has undergone in recent years, but as a result we have been a step ahead in addressing the change role of the high street and shopping destinations, offering valuable lessons on repurposing department stores and creating experience-led locations. Sharing this expertise with other countries present at MAPIC—from across Europe, the Middle East, and Asia—remains one of the event’s greatest strengths.
Our MAPIC lunch, held in collaboration with CACI Ltd, was a fantastic opportunity to connect with colleagues and clients, while events hosted by partners like Hammerson and The Crown Estate highlighted the exceptional work happening within our industry.
While MAPIC 2024 felt quieter than previous years, the quality of connections and insights was unmatched. As we look ahead, we hope the organisers consider making the event more accessible next year, avoiding clashes with Thanksgiving and Black Friday (the latter being a huge moment in any retailer’s calendar year) to encourage even greater global attendance. MAPIC’s ability to foster conversations with brands and stakeholders from around the world is unparalleled, and as an industry, we must continue to support this vital platform.
We certainly will be.
