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Buying and selling retail space



Retail experts at ICSC Europe have offered four predictions for those involved in the purchase and sale of retail space.

Store showcases

Half a decade ago, it was said that physical stores are a liability and e-commerce is the way to go.  However, today around 90% of purchases happen inside stores and experts are predicting that physical stores will keep focus on brands.
This is being indicated by Amazon’s plans to open a retail store and possibly a chain of gas stations.

Physical with digital

According to the Head of Westfield Labs, Kevin McKenzie, the growth of a retailer is dependent on both their physical and digital presence.  These two worlds have combined to offer consumers an immersive experience whilst shopping.  One of these experiences is Express Parking, where customers are able to check on available parking spaces on their mobiles.  Their registration number will be detected by a system which directs them to the area where there are free spaces and payment is taken by card upon exiting the center.  Westfield Labs’ Optimizing Way finding is a mobile app which directs consumers around their shopping centers.

New leasing model

According to the co-founder of the Future Laboratory, Chris Sanderson, landlords and mall owners no longer sell retail space by square meter, but rather ‘wonder’ by square meter.  This is evident in Apple stores where consumers are offered an overall experience of its products. It is easier to draw customers by offering them an all-inclusive experience, rather than simply rows of stores.

Ejido El Salitre, Mexico

Food and beverage

Statistically, shoppers who eat, spend around 20% more on retail. This makes it vital to plan adequate F&B areas within shopping centers or risk losing out on shoppers remaining within the mall.

More about shopping malls in the USA



May 12, 2022, Malaysia:
The complex is home to more than 200 tenants selling authentic local goods.
Apr 29, 2022, Europe, Europe:
The store sells streetwear created in collaboration with designers such as Soho Grit, Alma de Ace, BAPE, Herschel, and Staple.
Apr 28, 2022, USA:
Nike and RTFKT have announced a new collection of Nike Dunk Genesis Cryptokicks sneakers.
Apr 27, 2022, USA:
Meta Store has the intention of demonstrating the possibilities of virtual reality devices, as well as dispelling the mystery around the concept of the math universe.
Apr 22, 2022, Brazil:
BR Malls Participacoes and Aliance Sonae Shopping Centers may merge to form Brazil's largest mall operator.
Apr 22, 2022, United Kingdom:
The online retailer began selling cosmetics from luxury and indie brands.
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