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IMMOFINANZ recorded strong growth in the number of visitors to its retail properties in 2018: More than 142 million customers visited the STOP SHOP retail parks and VIVO! shopping centers with over 800,000 sqm of rentable space. That represents an increase of roughly 20 million visitors, or 16.7%, over the previous year. On a like-for-like basis, i.e. after an adjustment for acquisitions, sales and completions, the number of visitors rose by 4.8% to approximately 128 million. The retailers operating in the IMMOFINANZ retail parks and shopping centers generated a year-on-year increase of nearly 5.0% in their gross sales revenues.

In order to survive, shopping centers are beginning to adapt retail, housing cultural, educational, and leisure facilities all under one roof. Since 80% of those visiting malls are Millennials or Gen Z, leisure is a hot topic within retail development.

Following its completion just a few months ago, Soravia is expanding its Retail Park Liptovský Mikuláš location in Slovakia. The potential for exciting fashion concepts is tremendous.

In today’s environment of complex and fast changes in all fields of real estate development, particularly affecting retail and all the complementary activities making these developments possible, inevitably, the architectural profession will have to adapt by preventively responding to future trends and demands.

In 2018, the current retail (r)evolution continued and did not slow down. Omnichannel has become a reality: Today’s consumer, whether 7 or 70 years old, searches the web to make in-store purchases and does the exact opposite five minutes later.

Just a few years ago, many retail commentators were predicting that by 2020, online retail (“clicks”) would have completely taken over and driven physical (“bricks and mortar”) stores to extinction.

There’s no denying that these are challenging times for retail, with shopping center landlords having to work harder to increase footfall and convert this to spend. On paper, this is simple – make your retail assets attractive places to shop, introduce popular retail and F&B brands, and people will want to spend money there.