The rise in e-commerce has been accelerated by the pandemic. As highlighted in the left chart, some countries in Asia have been faster adopters of e-commerce than the U.S. and Europe, but it seems reasonable to expect penetration to deepen globally.
Still, as highlighted in the right chart, retail has struggled in some areas due to the pandemic, but can survive if positioned properly. Given the popularity of services over goods, properties that offer a blend of experiences (gym, restaurants, salons) alongside traditional store fronts are likely to be the most successful.