The first two of nine reports into the future of retail property were presented last month at the Institute of Directors in London. 'Changing Demographics and Consumer Patterns' was the focus of the first study.

A greater choice of where to shop, price cometitive retailers which are entering into new markets and forcing specialists to slash prices, along with the presence of the internet, have all caused expenditure growth to slow over the last two years.

Neil Saunders, consulting director of Verdict Research, who undertook the study for BCSC, says: "Collective price reductions of £2.2bn in 2006 is good for the consumer but it's this deflation that's contributing to the lower growth levels and for many retailers is bad for margins."

Research was gathered from a series of focus group discussions with consumers aged between 15 and 54, combined with the findings of Verdict's annual Consumer Dynamics Survey which questions 6,000 people about their shopping habits.

The report explores how consumers will change over the next 10 years, the impact this will have on shopping habits and the implications for the success or failure of shopping places in the future.

Saunders explains: "Success today, more than ever before, depends on understanding customers and meeting their requirements. Getting it right today is about the service environment - layout and facilities are important in deciding where to shop."

The research identifies eight lifecycle phases, with consumers aged between 45 and 54 coming top in terms of retail spend.

The 'maturing family' group, aged 35 to 44, will want shopping to be quick and easy and will buy furniture, kitchens, white goods and more expensive brown goods.

In third place is the group of 25 to 34-year-olds, who are concerned with setting up home. With many in this group having families, a shopping process that is easy and integrates family activities will be important.

Overall, consumers are set to become more demanding and, with more choice, will 'punish' locations that don't meet their needs by taking their custom elsewhere.

The study indentified a number of requirements. Firstly, shopping places need to differentiate themselves much more than they do now to stand out in the crowd. Some will need to target their offer at particular groups; promotion through loyalty schemes and theme days will become key; car access is particularly important, with a ban on car use in towns or congestion charges being particularly detrimental; supermarkets will also take an increased share of all non-food sales over the next 10 years, so bringing them back as anchor tenants will prove beneficial for driving footfall; and finally a focus on security is needed as the survey proved that shoppers who don't feel safe in a retail location will simply not shop there.

The second report, 'Consumers Over 55: Silver Shoppers Provide a Golden Opportunity', carried out for BCSC by University of Surrey's School of Management, reveals that this age group provides a great opportunity for shopping centres.

With an ageing population - there will be 2.2 million more people aged over 55 by 2015 - over 55s will account for 31.6 per cent of retail sales, with total retail sales for this group set to increase from £74.6bn in 2006 to £117.2bn by 2015.

The report is a result of a series of focus group discussions with consumers aged between 55 and 75, together with interviews with senior retail property industry experts.

Dr Margaret Lumbers, senior lecturer in food management at the University of Surrey, says: "Age is not a defining factor in determining shopping behaviour. Lifestyle has much greater importance, as well as polarisation of income."

The research made a series of recommendations to be addressed by shopping centres and retailers if they are to win over the older consumer.

Firstly, older shoppers have less 'need' for products; instead they go shopping for the leisure experience itself - browsing the shops and stopping for lunch. Secondly, it was discovered that quality of product was more important than price; older shoppers were also more than happy to visit edge of town shopping centres as well as high street locations.

Dr Hayley Myers, lecturer in management at the University of Surrey, says: "They place more on the convenience of the location than where it is. Many want to use their cars so it's about ease of access and parking. Cost of parking is key."

It also emerged that a clean and pleasant retail environment that's easy to move around in was a priority.

Promotion also came out as being important, with retailers failing to make the most of this 'ignored' group.

"They think of themselves as young and don't want to be thought of as otherwise," says Myers. "There might be an opportunity here to create a zone to meet the needs of the older shopper, maybe in terms of tenant mix - some independents were highly valued by this group - but also perhaps in terms of the facilities provided - for example waiter service restaurants and safe and secure parking close by. Perhaps a better atmosphere could be created on certain days or at certain times, with music, and help with carrying bags to the car."

This group also wanted better provision of customer service, due to them being much more likely to seek interaction. They reported a better experience of customer service in independent stores and were willing to travel to secondary shopping centres in order to shop at the independents. Issues of safety and security were also very high on this group's agenda.

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