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customer experience

Giles Membrey is Managing Director at Rioja Estates. /// credit: Rioja Estates

MEASURING SUCCESS IN THE OUTLET BUSINESS: “CONSUMERS WANT MORE THAN JUST GOODS”

When it comes to measuring success, outlets are undergoing a noticeable change, with a gradual shift away from traditional KPIs – such as sales per square meter – and towards a more comprehensive assessment. These days, the critical metric for success is no longer how much revenue a store generates, but how much of an “experience” it provides per square meter, explains Giles Membrey, Managing Director, Rioja Estates.

Bernd Albl is Managing Director Digital Solutions at umdasch The Store Makers. /// credit: umdasch

SUCCESS AT THE POINT OF SALE: MORE THAN JUST NUMBERS

Imagine walking into a store that plays your favorite music, makes personalized product recommendations based on your needs and desires, and even lets you try on products. Welcome to a new shopping experience. Bernd Albl, Managing Director Digital Solutions at umdasch The Store Makers, explains what these new possibilities look like.

Redevelopment: Elisen Palais in Hamburg, Germany (left), Chris Fleetwood, Deputy COO Real Estate at Redevco (right). /// credit: Redevco

TECHNICAL INNOVATION BY BRANDS AND CLOSE COLLABORATION WITH LANDLORDS WILL DETERMINE WINNERS AND LOSERS IN RETAIL’S “SECULAR SHIFT”

“We are all aware of the seismic changes in the retail landscape in recent years that have affected both owners and occupiers”, says Chris Fleetwood, Deputy COO Real Estate at Redevco. Therefore, a combination of macroeconomic events, higher-for-longer interest rates and inflation, increased consumer awareness of their own environmental footprints and values, and the emergence of transformative technologies have created an ever more competitive environment.

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: ACROSS

“Rethinking floor space – How to Increase Experience per Square Meter”

Retailers who can always find answers to consumer needs will survive. Here are some great examples of retailers that are already (re-)thinking floor space and stage themselves for the customer, appeal to all their senses, create a holistic experience, and whose success can no longer be measured in mere sales figures.

credit: Pragma Consulting

Creating Unique Experiences To Boost Footfall

Many retail locations around the world continue to struggle to achieve footfall levels anything close to pre-pandemic levels. In London, for example, major tourist and worker locations, such as King’s Cross and Covent Garden, saw visitor numbers decrease 40-60% in 2023 relative to 2019 volumes, according to mobile tracking data, shares Pragma Consulting in its latest analysis.

Manuela Lindlbauer, Owner of Lindlpower Personalmanagement. /// credit: Lindlpower Personalmanagement

Focus on People – How Attractive Is It to Work in Retail?

The labor market situation in the European retail sector has continued to worsen. Meanwhile, companies are under increasing financial pressure, consumer sentiment is declining, and online retail is gaining strength, explains Manuela Lindlbauer, Owner of Lindlpower Personalmanagement. A perfectly legitimate question remains: Why would anyone consider a job in retail today? Urgent solutions are needed when it comes to HR policy in retail, or are AI and robotics the answer?

credit: ACROSS

Level Of Demand: The Level Of Excellence We Should Strive For Today And Tomorrow

Originally developed solely to meet the daily needs of consumers, shopping centers quickly became an asset class. The model worked very well for a long time, but as consumer behavior has changed, so have the requirements of tenants, operators and investors. The obvious task to satisfy customers, business partners and stakeholders is: Get your customers to return to your locations. Clear differentiation and positioning as well as a clear focus on people are crucial.

credit: ACROSS

Level Of Demand: The Level Of Excellence We Should Strive For Today And Tomorrow

Originally developed solely to meet the daily needs of consumers, shopping centers quickly became an asset class. The model worked very well for a long time, but as consumer behavior has changed, so have the requirements of tenants, operators and investors. The obvious task to satisfy customers, business partners and stakeholders is: Get your customers to return to your locations. Clear differentiation and positioning as well as a clear focus on people are crucial.

The new customer experience vision and masterplan strategy will be applied to 3 existing Cenomi centers in Riyadh. /// credit: Portland

Portland Design is Creating the Mall of the Future for Cenomi Centers

Portland is working with Saudi Arabia real estate developer Cenomi Centers on its “Mall of
The Future” strategy. At the heart of the project is a fundamental shift in perspective,
where the conventional role of the mall will be re-thought and transformed into a multipurpose, experience-driven lifestyle destination.

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