As if retailers in German city centers have not had enough to contend with in recent years–primarily driven by growing competition from online retailers–now they are also confronted with even bigger economic problems due to the Corona pandemic and the associated restrictions and closures. A continuous analysis of visitor development by GfK shows what has actually happened since the start of the pandemic, who the losers and even bigger losers of the pandemic are, and what the future holds.
Europe’s food retailers are being put to the test by the eco- nomic consequences of the natural disaster Covid-19. This is a very special kind of weather situation. While non-food retailers and the food service industry are in sheer despair in the face of the calm caused by government-imposed lockdowns, the “system-relevant” food retail sector has been confronted with a veritable storm tide since the sec- ond quarter of 2020.
Industry leaders told us about the sales impact Corona had on their business in 2020. They also explain what fundamental changes in location, sales, and marketing strategy they are planning for 2021/2022 in response to the widespread economic impact of the pandemic.
Union Investment and Sierra Germany launched their latest edition of First Store by Alexa–a campaign by Berlin’s well-known shopping center Alexa. Ralf Schaffuss, Head of Retail Asset Management of owner Union Investment Real Estate, and Jens Horeis, General Manager of Center Management company Sierra Germany, talk about their latest innovation of the competition.
Retail parks have been the best performing and most resilient retail format in Belgium prior to and throughout the Covid-19 pandemic, resulting in a slight compression in yields by 25bps since the beginning of the year according to new research by CBRE commissioned by Mitiska REIM.
The most difficult part of business is making decisions during a crisis, explains Walter Seib, CEO of HMSHost International, with regard to the Covid-19 pandemic. He believes that as countries open up and vaccines become available, people will travel and return to airport F&B.
The new FC Bayern World opened on December 10, 2020 in the heart of Munich. The retail space was designed and the construction work was implemented by umdasch The Store Makers. The store plays in the retail-champions league across a total area of over 1,000 sq m.
“In our survey, many of our visitors told us that they would like to continue to see features that minimize the spread of infections, such as touch-free shopping, and that will be at the forefront of our minds as we upgrade our centers and embark on new projects.”
Redevco has recently completed an extensive refurbishment of its C&A store in the city center of Zurich. The redevelopment has transformed it into an energy-efficient property, incorporating the clothing retailer’s latest design concept. Redevco is targeting a BREEAM In-Use Excellent sustainability rating.
Many on the European continent seem to think that we live in a free world, underpinned by free market economics, and that our comparative wealth is unassailable. But the market that we now operate in is anything but free. Retail is perhaps the sector in which this is most searingly obvious. It all boils down to this: Between which entities should money flow take place? The trick must surely be to ensure that the money flow stays here. But how do you compete with global e-commerce?
Even though many things are changing in times of corona, the renovation of Quarree Wandsbek in Hamburg continues and even big stores with more than 800 sq m have reopened. Their product ranges already expanded, as “Kreativmarkt Hamburg” signed its new lease agreement in the middle of the crisis.
Corona is rapidly changing the world of retail. Shopping centers also experience these changes. Operators and tenants are facing far-reaching changes. Especially the severely affected fashion industry will accelerate these changes.
The need for marketing, centre operations and leasing teams to work together to help their destinations recover faster and stronger from the COVID-19 crisis is paramount. Coniq has written this practical how to guide following numerous conversions with clients and partners so your pre- and post- reopening plans are a huge success.
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