PERSONAL COMMENTARIES OF PLACEMAKING EXPERTS
“We partnered with Helsinki-based retail placemaking agency Propdea Oy to contribute a more holistic approach to serve the industry decision makers.”
„The reopening showcased our strength as a pan-European platform, as we shared the experiences of each country reopening, starting with Germany in mid-May, followed by all of the countries we are operating in.“
“We created a whole series of protocols aimed at returning the shopping center to normal.”
“It is evident that digital reach for malls will be more important than ever before as the world emerges from Covid-19.”
“Although it is still too early to determine changes in customer behavior, our preliminary assessment after the first few weeks of the reopening is optimistic in terms of sales and inflows.”
“Now, ULI Europe’s latest report, ‘Reshaping Retail–Accelerating Change’, forecasts that the impact of Covid-19 will accelerate the restructuring of the retail property sector, even more so in the United Kingdom.”
“The economic model of the outlet store is ideal in this period of uncertainty, as it is based on balanced and virtuous relations between brand retailers and property companies, by indexing income to results achieved by the points of sale.”
An attempt to explain the current situation faced by retail tenants.
However, according to Otto Ambagtsheer, CEO of VIA Outlets, the way in which customers shop will change, at least on a temporary basis. For example, in some of the company’s markets, they will not be able to let guests try on clothes before they buy them, and clothes that are returned will need to be quarantined for three days.
At the end of 2020, we intended to celebrate the opening of Nivy Station and welcome our first customers. We planned to change the face of Bratislava by working together and presenting a unique public space designed for travelling, shopping and relaxation. Due to the effects of the pandemic and state implemented measures, the possible opening date has become Spring 2021, when the project will be in construction readiness.
The reign of retail is over. The Covid-19 crisis is not a black swan for the shopping mall industry.
The Covid-19 pandemic will cause lasting change in the way that we live, work, play, and particularly in the way we shop.
“Fridays for Future, Earth day or the Fashion Revolution Week are just a few examples of a young, global movement that is only just beginning to fight for its market relevance.”
If tenants experience a substantial drop in turnover–25% or more – they can convert the quarterly advance payment of rents into monthly rents and, if necessary, can request a month by month rent deferral, provided they substantiate their request with information regarding turnover.
“For landlords, it is no longer an option to assume very long retail leases, collect the rent and sit back until the time comes to renegotiate them.”
“The lessor & lessee relation reflected in traditional lease models we are currently familiar with will transform into partnership models where risks and benefits will be shared.”
“As far as offline is concerned, we can expect consumers to be increasingly sensitive to emotions versus price, quality versus quantity as well as health and proximity.”
“The only good news for stationary retail is that the “digital natives” (can) seize their opportunities only to a certain extent.”
“We do expect the same developments like in China by late spring or beginning of summer at our malls in Central Eastern Europe and in Turkey.”
“How an old fable about the importance of unity can help center landlords and tenants thrive in the face of the coronavirus crisis.”