STRATEGIES AND EXPANSION PLANS OF RETAILERS
How can Covid-19 influence the transformation of tenant structures in shopping centers? Can up-to-date data be the key in the decision-making process for the retail professionals?
The “fashion connect” store, which is owned by bonprix, was awarded one of the international “World Retail Awards” at the “World Retail Congress” on 17 September 2020.
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.
“Health and safety will always be our first priority, but a tiered approach to the new Covid measures could help avoid blanket national closures.”
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?
What kind of experience are consumers looking for today? How important is the digital world? Is sustainability still relevant?
The online event was dedicated to the Covid-19-related question: European Outlets–back to normal? A large and prominent expert audience followed the discussion.
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.
Five points emerged at this event that focused on the problems of lease payments in connection with Covid-19. A large and very prominent expert audience followed this online discussion closely.
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.
“Outlets will probably have a longer recovery: domestic and foreign tourism usually contributes a lot to the total turnover.”
An attempt to explain the current situation faced by retail tenants.
Now is the time to stand together.
Ken Hughes is an authority on consumer and shopper behavior. According to him we now live in what he has decided to name “The Captive Economy”–one where we as participants and consumers are limited in terms of how we are to live our lives.
Under the guidance of the German Council of Shopping Places (GCSP), renowned representatives of the retail and retail real estate industry formulated a Code of Conduct, over a short period of several days, as a joint guideline for cooperation during the coronavirus crisis.
As an emergency measure, Immofinanz has deferred lease payments for April of retailers affected by the shutdown and postponed them until September, according to COO Dietmar Reindl.
“The only good news for stationary retail is that the “digital natives” (can) seize their opportunities only to a certain extent.”
The world and the retail sector are literally gasping for breath. Silvio Kirchmair, CEO of umdasch The Store Makers and Member of the ACROSS Advisory Board, talks about the situation at umdasch and how things could continue in the retail sector.
That certainly applies to EuroShop, the retail trade fair that took place in Düsseldorf, Germany from February 16 to 20. It was the perfect place for the EHI Retail Institute and Messe Düsseldorf to present the EuroShop RetailDesign Awards (ERDA) 2020.