• Trading conditions improved as social distancing restrictions continued to be loosened. Consumer sentiment improved modestly and correction in retail sales narrowed in Q3.

 

  • Retailers remained cautious. Non-discretionary segments such as groceries continued to drive leasing demand, while the quarter also saw selected store openings from F&B and athleisure brands seeking to capture stabilising domestic consumption.

 

  • Retailers will carefully monitor retail sales growth, particularly performance over festive season during year end, before proceeding with expansion plans for 2021.