PERSONAL COMMENTARIES OF PLACEMAKING EXPERTS
“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.”
“The corona pandemic reveals and emphasizes, among others, the very simple basic fact which is crucial to a healthy business survival illustrated by the dependency of all different business parties on each other’s survival.”
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.