Traditional retail is troubled, and Blackstone global head of real estate Jonathan Gray is adjusting his firm's strategy to adopt to the growing demand for e-commerce.
Across the global developed economies, online makes up between 4% and 18% of total sales, but "no matter where you are, at 4% in Italy or 18% in the U.K. online retail is still growing at 15-20% a year," the man in charge of the world's biggest real estate portfolio told participants of NYU's Schack Institute of Real Estate annual REIT symposium. . . . more