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ACROSS

April 9, 2020

Impact of COVID-19 on the Czech Republic’s retail sector

The corona virus pandemic and the related measures represent an entirely new and unexpected situation for the entire real estate market, with a global scope and a major local impact on everyone. According to Cushman & Wakefield Czech Republic, retail is one of the most affected sectors, yet it should also play a pivotal role in re-starting the economy.

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THE LEVEL OF EXCELLENCE WE SHOULD STRIVE FOR TODAY AND TOMORROW
Originally developed solely to meet the daily needs of consumers, shopping centers quickly became an asset class. The model worked very well for a long time, but as consumer behavior has changed, so have the requirements of tenants, operators and investors. The obvious task to satisfy customers, business partners and stakeholders is: Get your customers to return to your locations. Clear differentiation and positioning as well as a clear focus on people are crucial.
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