JLL Ireland Retail Report – H1 2024

The JLL Ireland Retail Report for H1 2024, sheds light on the future prospects of the retail sector. After a decade of challenges, stability is finally emerging, and growth is on the horizon. The recent interest rate cut by the ECB and the rebounding consumer sentiment will boost consumer activity. Public transport stats in Dublin reflect this, with passenger numbers surpassing 2019 levels. Luxury brands are driving demand for experiential shopping spaces, utilising physical stores to offer high-end client experiences and protect product pricing. Retailers are adapting to changing consumer preferences with AI chatbots and virtual fit technologies. Outside of luxury, sporting goods groups and experiential retailers are also seeking expansion opportunities. With headline rents holding steady and the increasing demand for well-located stores, rental growth is likely to begin by year-end.