PERSONAL COMMENTARIES OF RETAIL REAL ESTATE EXPERTS
“Make the best use of your time and develop a creative (re-)opening strategy that needs to capture the attention of your customers during a period of a lot of noise.”
“There is no need to look for culprits or point out those industries or competitors who might not be affected in the same way.”
“The outlet category has always matured during decades of upheaval, and we have routinely stated that ‘outlets are good in good times and great in terrible times.’ 2020 may well test that theory.”
2019 was a real game-changing year for the region’s retail sector with quickly increasing turn overs, new market openings as well as first larger refurbishments. Unfortunately, the current crisis is reshuffling the entire deck.
SAFE Shopping Centers have issued the guide “COVID 19 and Considerations for Shopping Centers and Retail Spaces” to support the industry (FREE DOWNLOAD). It is designed to give guidance on preparations and consideration for the Covid-19 outbreak, covering essential functions and hands-on tips for mall operations.
“Retailers and developers who are able to identify ways to get closer to and be supportive of clients and society during this time of crisis will surely be the winners.”
“In a crisis, society acknowledges the great accomplishments of retail staff in a way that they usually tend to forget.”
“As in all crisis, we should bear in mind that there is always a ‘before’ and an ‘after’. We should focus on the latter.”
"The longer the situation will continue, the more the complete economic demand will deteriorate and thus reduce the interest and the ability to lease retail real estate further.”
The REBOOT Column.
“The themes of wellbeing, environmental consciousness and a renewed value placed on a sense of community are clearly central to how retailing spaces can deliver what customers of today want.”
It almost reminds one of the 1993 film “Groundhog Day”. The only difference is that Dr. Will, together with his management consultancy Ecostra, has only employed the recurring, annual use of mathematical calculations since 2011, with the purpose of creating a body of evidence, based on statistical methods, that would allow for a ranking of the best shopping centers in Germany to be drawn up.
“Architecture, construction and floor plans set parameters for the experience of a room, and they also set conditions for the acoustics and natural sound environment that is created when people are in that space.”
The experience economy has driven changes across all economic sectors in recent years, and retail has experienced some of the most radical, yet interesting ones, opening new paths for business by interacting with other industries such as travel. Shopping tourism is showing its power as a business driver and, at the same time, it is pushing a deep transformation of the industry that will guarantee growth and development in the short and long run.
“Clearly, our industry has a responsibility to find solutions and reduce carbon emissions. It is time to stop talking and, instead, to act responsibly, act collectively, and act now.”
“Placemaking is key – and more challenging than it seems.”
“We should not be haunted by digitalization and rather than think hard what makes our projects special.”
“Online neighborhood and event-centric groups and forums have provided suitable non-physical spaces for public discussions – sometimes referred to as urban acupuncture.”
“Digital signage should not begin in cinema foyers. It must be an integral part of the entire information and marketing presence of all malls.”
“Retail schemes must offer all alternatives, pedestrian paths, bicycle lanes and shelters, bus stops, metro stations, if applicable, and taxis (booths). Barriers and fences should be removed.”