Nationally and globally retailing is facing structural changes, with evolving consumer trends, the growth of internet shopping and the rise of new international shopping destinations, all of which impact on the performance of Knightsbridge and the Brompton Road as an International Centre. Consumers no longer see shopping as a monoculture activity. To compete with alternative locations and internet shopping, traditional retail districts have constantly to offer a wider and better experience to encourage consumers to visit, stay longer and return more often.
Globally, traditional competitor districts are investing heavily in public realm and infrastructure improvements. Paris, for example, is currently investing €500 million in enhancing the Champs Elysees. In addition, new competitors are now appearing, particularly in the Middle East and the Far East. The huge investment being made in shopping malls, such as Dubai, and the establishment of a presence by world leading museums, such as the Louvre and the Hermitage, to create a wider experience shows how some Middle Eastern countries are developing international retail as an alternative to their declining oil economies.