The market continues to be landlord favoured, as a result landlords are able to maintain pricing power. This is especially true for owners of prime retail properties and successful shopping centres that draw strong footfall and turnover for tenants.

Supermarkets and convenience stores are moving toward smaller, budget-focused formats that take up less space, are more cost efficient to run, and can be quickly opened in numerous different neighbourhoods.

Homegrown food and beverage concepts continue to grow in popularity, as they demonstrate that they can quickly adapt to changing consumer trends and preferences.