Advertisement
Search
Close this search box.

Retail

STRATEGIES AND EXPANSION PLANS OF RETAILERS

We are all still feeling the social and economic disruption caused by the pandemic. The harsher the global impact, the better we should be able to understand each piece of the entire puzzle. The purpose of this article is to open a discussion on an important topic in retail real estate, based on data and forecasts provided by RegioData Research.

The Retail Village brings new up-and-coming concepts, digital marketplaces, quick-delivery specialists, and DNVB together. This focus on new retail brands and concepts from around the world will be introduced at this year’s show.

The events of the last few years, increased transparency in general, and last but not least, technology and globalization have resulted in a new kind of customer. These new customers are both mature and competent. Retailers would do well to regard them as such.

In order to become the “center of the community”, retail spaces have to offer public services that people want and need, as well as opportunities for people to come together and build community. That entails, among other things, rethinking the tenant mix to generate footfall as well as creating more events and activities that attract people.

Societies have changed, retail has changed, and so must architecture and the real estate industry. “Le 31” has become a model for Redevco’s vision on how to redefine retail and create a connected community of stores, partners, and visitors.

In order to follow and fulfil customer needs, operators of shopping centers also have to support their tenants. Furthermore, integrating online with offline elements, through proptech partnerships, is the path to maintaining a leading position, according to NEPI.

In probably the most famous district of Venice, San Marco, a company has managed to expand in recent months and now operates five stores just minutes from each other: Giobagnara. Two of these stores are right next to St. Mark’s Church, another is located on St. Mark’s Square, not far from Caffè Florian (there is a meeting room on the second floor with a wonderful view of St. Mark’s Square); the fourth store can be found beside Harry’s Bar.

The extent to which a retailer can satisfy the needs of its customers significantly depends on the technology it utilizes and masters. Consumers have become accustomed to the often highly individualized approach provided by e-commerce, and they expect the same in the brick-and-mortar environment. Technology stands ready to meet the challenge.

According to MAPIC Director Francesco Pupillo: During times of transformation, we have to guide people in a better and more intensive way. Therefore, he wants to increase the value enjoyed by the attendees of this year’s MAPIC by, among other things, connecting them via special events and focusing more attention on new and innovative retail models.

First the coronavirus, then the war in Ukraine: Rising inflation and supply chain issues are causing panic, leading to consumers to buy again. Professor Stephan Rüschen speaks with ACROSS about justified fears, current supply shortages, and why transparency is the order of the day for all retailers.

Consumer behaviors and the business environment are changing fast under the global circumstances. Therefore, it is critical for real estate development companies to keep a pulse on both. The consumer is today at the heart of business more than ever before, say Jovana Cvetković and Nemanja Bućinac from MPC Properties.

Vienna’s Neubaugasse in the seventh district has developed well in recent years. It has once again become a shopping street with many specialty stores and places to sit and linger. Strolling around here is fun again.