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Global Retail Attractiveness Index: New high in European retail markets

GRAI 3/2024 is driven by greater consumer confidence. The index compiled by Union Investment and GfK sees increased signs of recovery in eight European countries. The most significant increases are visible in Sweden and the Czech Republic, while overseas regions are stabilizing at a weak level.

credit: Rioja Estate/McArthurGlen/Hammerson

EUROPE HAS BECOME SATURATED, SO WHERE NEXT FOR OUTLETS?

In recent years, Europe has seen a proliferation of designer outlet malls, catering to savvy shoppers seeking luxury brands at discounted prices. However, the market in Europe is now showing signs of saturation, prompting developers and investors to look beyond traditional borders for new opportunities, says Giles Membrey, Managing Director, Rioja Estates. This shift is driven by various factors, including market maturity, consumer saturation, and the quest for untapped potential in emerging regions.

Roger Goyk, Director of Retail Brookfield Properties (left), Jonathan Doughty, Special Project Manager at ECE (right). /// credit: Brookfield Properties, ECE

THE PLAYCE IN BERLIN: THERE WAS NO NEED FOR “JUST ANOTHER” SHOPPING MALL

Like no other German shopping center, “The Playce” at Potsdamer Platz in Berlin is a shopping and cultural destination that focuses on food and beverage, leisure, and retail stores that are new to Berlin or unique in their concepts. One and a half years after its opening, The Playce is now 96 percent leased. ACROSS discusses why now is the best time to be part of the project with Roger Goyk, Director of Retail Brookfield Properties, and Jonathan Doughty, Special Project Manager at ECE.

credit: BBE Retail Consultancy, WOW Concept

CUSTOMER HAPPINESS NEEDS TO BE REFLECTED IN TURNOVER FIGURES

True retail experience represents a major opportunity to inspire and retain customers when they visit a store – perhaps the only opportunity, says Dr. Johannes Berentzen, Managing Director of retail consultancy BBE. Yet, how can experience and, by extension, success be measured? In an interview with ACROSS, the strategy consultant talks, among other things, about how and why we need to rethink space in brick-and-mortar retail, which key figures we should question, and what role technology plays in the process. The underlying challenge: The successful implementation of good ideas requires creativity, entrepreneurial courage, and the necessary funds.

André Stromeyer is the Managing Director at HBB Centermanagement. /// credit: HBB

RETAIL REAL ESTATE IN A STATE OF CHANGE

In order for retailers and retail property operators to inspire and retain customers in the long term, it is essential that they rethink their spaces and develop innovative concepts, according to HBB. Such new approaches include the redefinition of multi-sensory shopping experiences and strategies to enhance the customer experience.

credit: Breuninger

“WE DON’T THINK IN TERMS OF INDIVIDUAL CHANNELS – WE THINK AS A BRAND.”

Breuninger has been pursuing a consistent omnichannel approach since 2008. Ideally, customers should feel no difference between the channels. At the same time, the openings in Munich and Hamburg are a clear statement in favor of brick-and-mortar retail. ACROSS spoke with Alexander Entov, Managing Director of Breuninger’s Department Store in Munich, about what positive experiences “made by Breuninger” look like, why there should be no separation between the offline and online worlds, and why customer feedback is ultimately the most important factor.

credit: ACROSS

ACROSS Retail Talk: Rethinking Brick-And-Mortar Retail — “Continuous, Step-By-Step Improvement Of The Shopping Experience Is Key”

“Change for the sake of change is not a good concept because it just creates extra costs. If a retailer´s concept and strategy work as intended then offering occasional surprises, and introducing smaller changes is more beneficial. Drastic changes must be kept as a last resort for cases where a concept or strategy is not working.” Our latest ACROSS Retail Talk, “Rethinking Brick-and-Mortar Retail By Increasing the Shop Floor Experience,” revealed, among other things, that to avoid predictability and ensure an exciting shopping atmosphere at a location, having the right mix of data and creativity is necessary, as it can turn an average, predictable visit to a location into a memorable experience.

credit: Stratosferica

Utopian Hours Festival Turin: Taking an international look at cities and rethink them.

Utopian Hours, taking place 18-20 October in Turin, Italy, is a three-day international event organized by urban knowledge agency Stratosferica, showcasing and discussing new concepts and inviting guests and audiences to suggest a new way of conceiving human evolution. Starting from the first edition in 2017, the festival aims to give for the eighth time a voice to the people behind these changes: City makers, activists, architects, and innovators share their experiences and stimulate new visions for the future and concepts of cities. ACROSS spoke to Daniele Vaccai, Project Developer at Stratosferica, about the festival, its program, and speakers.

credit: RegioData

RegioData–Analysis: Increase In Purchasing Power In Europe

The annually conducted RegioData purchasing power analysis reveals significant differences in the development of wealth levels among European countries. Despite these disparities, it can be observed that the inhabitants of all European countries on average have more financial resources available today than they did five years ago.

credit: GfK

GfK study: European retail in 2023 and 2024

Consumers in Europe continue to be affected by various crises. After inflation peaked in 2022, 2023 was characterized by an adjustment to the increased cost of living. Additionally, the multiple global crises and the loss of purchasing power caused uncertainty, which led to concerns and a change in consumer behavior.

Sebastian Guth (left), Managing Director of 21Media, and Charlotte Andersen, Marketing Director at Rødovre Centrum in Copenhagen, Denmark. /// credit: 21Media, Charlotte Andersen

Marketing expert discussion: “We want to create asset value together.”

Marketing is under pressure: While customer behavior is constantly changing, new channels are continually being added, and budgets tend to shrink, marketing managers need to be more innovative than ever. Diamonds are created under pressure, but pressure also causes errors. Across brought together two European marketing experts, Sebastian Guth (Managing Director of 21Media) and Charlotte Andersen (Marketing Director at Rødovre Centrum), to discuss the role of marketing, error culture, shrinking budgets, and working with landlords.

Francesco Pupillo is the MAPIC Director

“GOOD SHOPPING CENTERS SEE THEMSELVES AS STAGES”

The most difficult times are behind us and retail has proven to be resilient, states MAPIC Director Francesco Pupillo. As such, this year’s MAPIC will once again be clearly focused on matchmaking and brands – especially dynamic brands that are part of experiential retail.

Credit: MCARTHURGLEN/DANIEL BOINTNER

DESIGNER OUTLET PARNDORF: SUMMER TIME IS SALES TIME

Parndorf is a great example of how tourism is increasingly linked to shopping. This summer, Designer Outlet Parndorf will again come up with special campaigns and attractions to create a special summer vacation feeling for the whole family. Mario Schwann, General Manager of Designer Outlet Parndorf, expects the record year 2023 to be outperformed again, with strong tourism figures from Austria, cross borders and the EU contributing to this – Non-EU-tourism performance is also showing a positive trend.

credit: Kaufland

REVITALIZATION: HOW KAUFLAND IS DEVELOPING A MARKET HALL INTO THE NEW TOURISM MAGNET OF SOFIA

Kaufland is continuing its expansion tour in Europe. Revitalizations are playing an increasingly central role in this. The integration of existing retail locations and modernization has recently increased compared to the construction of new buildings. Furthermore, the latest example in Sofia shows the role that the interaction between tourism and retail can play for a location. With the revitalization of the Central Market Hall in Sofia, Kaufland is not only reviving an architecturally unique location but also a tourist magnet.

credit: umdasch The Store Makers

MODERN AIRPORTS ARE BUILT AROUND THE RETAIL OFFERING

The ultimate goal is for travelers to be able to spend their stay as pleasantly and individually as possible. As a result of this prioritization, airports are increasingly becoming destinations themselves, says Michael Ripfl. Ripfl has been working for umdasch The Store Makers in the field of travel retail, for three decades and has recently developed concepts for some of the largest and most innovative airports in the Middle East. In an interview with ACROSS, he elaborates on the lessons learned from the pandemic, current trends, why retail is shaping the design of modern airports, and what the shopping industry can learn from travel retail.

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Data exchange in the placemaking industry: Is data-sharing equal to data-caring?
The exchange of data puts the tenant-landlord relationship to the test. While the advantages of data sharing are obvious, tenants in particular find it difficult to share relevant data. The main reason for this is a lack of trust in how this data is used.
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