ACROSS: LAST YEAR, MAPIC WAS ALL ABOUT DISCUSSIONS, ROUND TABLES, PANELS, AND CLOSED-DOOR EVENTS. HOWEVER, THE TRADITIONAL FOCUS ON DRIVING BUSINESS DEALS HAS ONCE AGAIN BECOME MUCH MORE IMPORTANT. ARE YOU ALSO PURSUING THIS APPROACH IN 2024?
FRANCESCO PUPILLO: MAPIC has always been a matchmaking platform. The real estate market, and retail real estate in particular, has endured some difficult years. The end of 2023, which was when MAPIC took place, was perhaps one of its most difficult phases. Now, we can see that momentum is picking up again. Retail real estate has performed well and is currently much further ahead than other asset classes. As a result, matchmaking will once again play a much greater role, along with the analysis of the market and key trends. Therefore, 2024 will be all about brands. Retail is clearly in the spotlight. Participants should familiarize themselves with new brands that are expanding internationally – now more than ever before. Based on the feedback that we have received, we aim to help attendees identify new brands and brands that are expanding across borders. My team is currently in the process of identifying these brands and presenting them at MAPIC, which will give attendees the opportunity to get to know more about them.
ACROSS: HOW WILL THAT BE REFLECTED IN THE PROGRAM?
PUPILLO: There will be sessions dedicated to those brands. There will also be a session devoted to developments in the high street sector as well as city center developments. Of course, there will also be keynotes from top brands, and we will continue to focus on the real estate sector in general. Recent years have shown that mixed-use projects, in particular, are on the rise. It is highly unlikely that there are any pure retail development projects left anywhere in Europe, let alone the world. The most important projects at the moment are urban regeneration projects – and they are all mixed-use. This close integration of retail and urban development is new and will determine the future. The environment will also play a major role. The key question at these events is: How is retail changing the face of our cities?
ACROSS: LAST YEAR, THERE WAS A LOT OF INTEREST IN TURKISH BRANDS IN PARTICULAR. IN YOUR OPINION, WHAT BRANDS ARE THE MOST INNOVATIVE AND SOUGHTAFTER THIS YEAR?
PUPILLO: There is no single segment that is strong this year. The most dynamic brands are predominantly part of experiential retail, that is, F&B brands and leisure concepts. There are also some niches that are doing very well, such as sports and wellness. At the same time, however, there is also a shift in the more traditional brands, which are taking a very experiential approach at their stores. There is a big shift towards interactivity with customers. That also applies to landlords. Good shopping centers today see themselves as stages – where entertainment is constantly on offer. Culture, theater, live music, and live food are all provided. The live experience really is the key to success these days.
ACROSS: THE MAPIC 2024 THEME IS “THE NEW RETAIL EQUATION: GROWING IN A FAST-CHANGING WORLD”. CAN YOU EXPLAIN THIS IN MORE DETAIL?
PUPILLO: First of all, the word “equation” is important. Retail professionals have to deal with many variables. For one, there is the omnichannel environment, which is much more than just physical or online. However, there are also other variables that come into play, such as the growing importance of the environmental and social impact of retail. Such issues are particularly significant to younger generations. On top of that, there is the variable of IT and artificial intelligence. Brands and real estate owners are already exploring AI – with impressive results. All of these aspects are part of the new retail equation, while growth is not as simple. MAPIC is a great place to find the right formula to solve all of these equations.
ACROSS: IS THERE ANY NEWS REGARDING LEISURUP AND THE HAPPETITE?
PUPILLO: As leisure has played an increasingly important role in the retail real estate industry, LeisurUp has also grown. The minus one area at MAPIC will be dedicated to leisure. The conference program for the leisure sector will also be expanded. As with the brands, crossborder development will also play a major role, as will leisure concepts on the high street. The IP village, where the owners of TV programs and streaming brands will be able to show how they have developed physical activation, will be a new feature. This is a huge trend. The Happetite, meanwhile, is clearly focused on matchmaking. On the one hand, it’s about the presentation of brands, but on the other hand, it’s also about their digital development. Those are the two key areas. The number of F&B concepts has grown and so has the demand for innovative providers.
ACROSS: FROM A RETAILER’S PERSPECTIVE, WHERE DO YOU SEE THE GREATEST NEED AT PRESENT?
PUPILLO: The cost of inflation is high. Consumers are buying less or only want to pay a certain price. That has recently put retailers under a tremendous amount of pressure. Fortunately, inflation is now on the decline and sales are on the rise. At the same time, retailers have to keep their physical locations afloat. Finding the right location for your brand is an extremely difficult task. Should it be online or offline, and if offline, where? Knowing the market, and your competitors in particular, and how best to combine physical and online offers and use store animation to drive footfall is more important than ever. These are definitely years of change for the retail industry, but there are many reasons to be optimistic, but there are plenty of reasons to remain optimistic: The current figures show that retail is alive and well. That fact is also evidenced by the rising number of visitors at shopping centers almost everywhere in Europe.
ACROSS: SO, WHAT ROLE SHOULD MAPIC PLAY?
PUPILLO: At MAPIC, we see it as our job to guide the players through this paradigm shift and to help them make the necessary changes. The physical store and the physical experience are important, but they are changing. There will always be new models, and current trends will inevitably be replaced. In addition to the technological aspects and artificial intelligence, that is the biggest challenge for retailers. In summary: Retailers are now more cautious when it comes to opening physical stores. They gather much more information. That is why MAPIC is the perfect place to get such information.
Francesco Pupillo
Francesco Pupillo is the MAPIC Director
