PERSONAL COMMENTARIES OF PLACEMAKING EXPERTS
How resistant is the shopping center industry? Alleviating symptoms is not enough!
“After the first soft measures in early March, a curfew restriction was imposed in Hungary from March 28 until April 11. Together with the compulsory closing of all non-food shops at 3:00 PM this has had a huge impact on the retail sector.”
"Action will be needed to save millions of jobs around Europe. This will be a call for action for all of us who still operate, manage, develop, build, and expand stationary points of sales. Survival instinct is the prerogative of the species and now we have to find ours."
“No one believes this will last forever and most believe that the underlying economy will bounce back once an all clear is sounded.”
“If history is an indication of the future, consumers, having been in home isolation, will enthusiastically return to the mall to shop, dine, and be entertained.”
“Getting out of our comfort zones also makes us stronger in the long run, activating our values and pursuing both personal and professional purpose should be our priority.”
“Ground floor retail will be converted into new businesses: pick-up points for online sales, residential, start-ups.”
“Once this pandemic is over, our customers will be hungry for all that they were deprived of during the crisis. Brands and landlords need to be prepared to show that online shopping is just a substitute for the great experience you have while visiting shopping centers.”
“Gathering spaces will be even more important than they were beforebecause we can only truly value something, like our freedom to meet, when we’ve had it taken away. And shopping centers and malls are gathering spaces.”
“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.”
