E-commerce and its Effects on Commercial Real Estate and F&B : Space Conversions, the Optimal Meeting Place and Future Expectations on Development in Stockholm CBD
Abstract: People are becoming more digital today, and are spending the majority of their time behindscreens. Because of this, the importance to socialize have become more prominent. In thisdigital era, more businesses are establishing online. A structural reformation in the retailmarket is inevitable. One of the reasons for this is the competition which comes frominternational competitor. Consumers can click home goods directly from internationallow-cost production actors. With this change, it has become harder for physical retailbusiness to become profitable. Even though the online retail market is blooming, there is stilla need for physical spaces in Stockholm, and this is because of webrooming and Halo effects.In combination to this, retailers desire fewer and smaller spaces. Further, the effectse-commerce has on physical retail have altered the way real estate owners establish theirspaces. Several real estate owners convert retail stores into food and beverage (F&B). TheF&B sector has become more important and prominent today because of its importance ofcreating a meeting place in today’s society. Due to this, the F&B market is saturated causingcannibalization between actors.The aim of this study is to explore and interpret qualitative data, based on interviews withbranch experts from real estate owners and consultants, retailers, researchers and F&B actors.Considering, if the online retail market affects the F&B market in Stockholm CBD. What willbe the future for physical retail and F&B spaces, based on the change in consumer behaviour?What is the relation between the expanding online market and the conversion from retail toF&B? What will happen when the market is saturated and how will the future meeting placebe established? The thesis will also be based on a case study of Sergelstan, a developmentproject in Stockholm CBD, owned and established by Vasakronan.The conclusion of the research is that e-commerce has an indirect impact on the F&B sector,based on direct effect from retail. The physical retail sector creates vacancy due to a changedconsumer behaviour, which enables other sectors to grow. Due to the importance of ameeting place for society, real estate owners have almost doubled their F&B supply in theCBD of Stockholm.
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