“Fridays for Future, Earth day or the Fashion Revolution Week are just a few examples of a young, global movement that is only just beginning to fight for its market relevance.”

If tenants experience a substantial drop in turnover–25% or more – they can convert the quarterly advance payment of rents into monthly rents and, if necessary, can request a month by month rent deferral, provided they substantiate their request with information regarding turnover.

“For landlords, it is no longer an option to assume very long retail leases, collect the rent and sit back until the time comes to renegotiate them.”

“The lessor & lessee relation reflected in traditional lease models we are currently familiar with will transform into partnership models where risks and benefits will be shared.”

“Action will be needed to save millions of jobs around Europe. This will be a call for action for all of us who still operate, manage, develop, build, and expand stationary points of sales. Survival instinct is the prerogative of the species and now we have to find ours.”

“No one believes this will last forever and most believe that the underlying economy will bounce back once an all clear is sounded.”

“If history is an indication of the future, consumers, having been in home isolation, will enthusiastically return to the mall to shop, dine, and be entertained.”

“Getting out of our comfort zones also makes us stronger in the long run, activating our values ​​and pursuing both personal and professional purpose should be our priority.”

“Ground floor retail will be converted into new businesses: pick-up points for online sales, residential, start-ups.”

“Gathering spaces will be even more important than they were beforebecause we can only truly value something, like our freedom to meet, when we’ve had it taken away. And shopping centers and malls are gathering spaces.”

“Make the best use of your time and develop a creative (re-)opening strategy that needs to capture the attention of your customers during a period of a lot of noise.”

“There is no need to look for culprits or point out those industries or competitors who might not be affected in the same way.”

“The outlet category has always matured during decades of upheaval, and we have routinely stated that ‘outlets are good in good times and great in terrible times.’ 2020 may well test that theory.”

2019 was a real game-changing year for the region’s retail sector with quickly increasing turn overs, new market openings as well as first larger refurbishments. Unfortunately, the current crisis is reshuffling the entire deck.

SAFE Shopping Centers have issued the guide “COVID 19 and Considerations for Shopping Centers and Retail Spaces” to support the industry (FREE DOWNLOAD). It is designed to give guidance on preparations and consideration for the Covid-19 outbreak, covering essential functions and hands-on tips for mall operations.

“Retailers and developers who are able to identify ways to get closer to and be supportive of clients and society during this time of crisis will surely be the winners.”