Project Overview
The rise of digital commerce has significantly changed the way people shop, leading many to question the value of physical retail spaces. Although businesses understand that stores need to adapt, few have reliable ways to measure their holistic impact in a way that supports this evolution. As a result, the traditional ‘profit and loss’ approach often remains the default — which can hold back innovation and limit the long-term potential of high streets and other commercial areas.
To make better decisions about investing in physical retail, we need tools that can capture and predict the full value of stores as experiences, not just sales points.
This project, funded by Innovate UK through the Knowledge Transfer Partnership scheme, aims to create a new way of measuring the full value of physical retail stores in today’s evolving shopping landscape. Through five stages, we’ll first explore how the role of stores is changing within the customer journey, then assess current performance metrics to identify where they fall short. Building on these insights, we’ll design a new performance model that reflects both commercial and experiential contributions of physical retail. This model will be tested, refined, and rolled out with support from commercial partners, ensuring it's practical, relevant, and ready to guide smarter investment decisions across the sector.
Partners
Institute for Retail Studies, University of Stirling
The Institute for Retail Studies at the University of Stirling has over forty years of experience in research, consultancy and education in the retail sector. With a keen interest in structural change in the retail industry and a track record of working with commercial organisations and public authorities in the UK, Europe and Southeast Asia, the Institute is well placed to bring its expertise and knowledge to the project.
Agile Retail
Agile Retail has a heritage in brand activation in immersive experiences that engage consumers in physical environments. This has evolved into retail activations, pop-ups and permanent stores, where a background in experience-led sales and product demonstrations has proven critical for consumer acquisition.
Join the Project Today
Be the Voice That Shapes the Future of Physical Retail
We’re inviting forward-thinking retail leaders to join a groundbreaking Innovate UK-funded project led by the University of Stirling’s Institute for Retail Studies and Agile Retail. Together, we’re developing a validated, commercially ready model to measure the true contribution of physical retail — from brand influence to experiential return and omnichannel impact.
But this can’t be built in isolation. We need the experience, insight, and leadership of those working on the frontlines of retail.
As a partner, you’ll gain early access to insights, directly influence sector-defining work, and be credited in project outputs. Your input won’t just guide the model — it will help shape the future of retail strategy.
Your leadership matters. Your perspective is essential. Be part of the change.