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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



TODAY, USA:
Footwear brand Kizik is set to launch its inaugural experiential pop-up store in New York.
Apr 19, 2024, China:
Livat Xi’an is the largest foreign commercial property investment into Shaanxi Province.
Apr 18, 2024, United Kingdom:
To celebrate the launch, the brand introduced the series with exclusive limited-time offers.
Apr 17, 2024:
Adidas has raised its full-year profit guidance following an exceptional performance in the first quarter of 2024.
Apr 15, 2024, Germany:
KaDeWe filed for insolvency at the end of January due to issues within Signa Group.
Apr 12, 2024, USA:
The Meeting Place spans approximately 256,000 square feet and includes Saluhall along with other offerings like Hej!Workshop.
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Westfield Garden State Plaza GLA:2 118 718 SF
ADDRESS: 1 Garden State Plaza, Paramus, NJ 07652
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
I Viali GLA:452 084 SF
ADDRESS: Via Dei Cacciatori 111 - 10042 Nichelino TO - Piemonte
Italy . Torino
I Viali
Westfield Santa Anita ADDRESS: 400 S. Baldwin Ave. Arcadia, CA 91007
USA . Arcadia
Westfield Santa Anita


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