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Malls must move beyond shopping to survive in Internet era

a growing number of consumers moving online, shopping center owners looking to get into the European customers, including services that can not be ...


Malls must move beyond shopping to survive in Internet era

a growing number of consumers moving online, shopping center owners looking to get into the European customers, including services that can not be reproduced on the Web, such as hospital and government buildings.

centers should be more like community centers offer comprehensive services to survive in a growing number of retailers such as HMV and Blockbuster failed, appraisers at the annual MIPIM in Cannes, France, told Reuters.

On the other side of this revolution retail experts see significant gains in terms of storage and more goods are sent and returned by post.

“The days are counted independently mall,” said David Roberts, CEO of Aedas architect, one of the five largest companies in the world. The company is involved in projects master plan of the city in Asia, Europe and the Middle East.

“In 20 years, you will find shops selling books and DVDs replaced by sites that give people a reason to go to the mall to sell … art galleries, educational centers and spa treatments.”

Florencio Beccar, fund manager CBRE Global Investors European financial center shopping, already the recent acquisition of a shopping center in Germany, saying that it is a major medical center consists of ‘a big plus. “

” I once saw a clinic in a shopping center in Brazil, where you have arrived and are buzzing on a device when they are ready. In the meantime, you can go shopping, “he said.” With the aging population in Europe, you can see that more and more. “

CBRE Investors, which about 14 billion euros ($ 18.2 billion) of retail property in Europe under management and 5,000 tenants, also has a shopping center in the south of Sweden with a library and a municipality in said he.

“More mall developers preliminary discussions with these anchor tenants and major retailers,” says Beccar.

Mall owners

as Land Securities, Intu, Westfield and Klépierre increased number of restaurants and cinemas to convince consumers to stay longer and promotions to offer to frequent buyers that can be followed via their mobile phones.

Community Centres

rewarding adventure parks

But these measures do not go far enough, according to some experts, in the light of expected last month that 90 percent of the growth in retail sales in Britain, France and Germany between 2012 and 2016, 91.5 billion euros, have online, depending on the branch owned by French insurer AXA, which manages € 43 billion in assets.

Besides changing what’s inside, mall owners will get inspiration from emerging markets like Dubai and China, where the centers are part of larger mixed-use developments where people live or are open spaces where their free time, Roberts said.

“shopping convenience and the Internet has led to a break in the Community structures and there is a gap, ready to be filled,” he said .

“There is a total lack of vision in many mall owners,” said Joe Valente, Managing Director of JP Morgan Asset Management, which manages € 7 billion real estate in Europe.

“The big thing that is missing is that, unlike almost all other sectors, they have not taken their own brand building. Why not bluewater.com one? “He said, referring to the big shopping center of the same name in the south of England.

” The owners fear cannibalization of sales, but in 10 or 15 years, they have no choice because they will anyway be cannibalized, “he said. In other words, a growing number of consumers moving online all centers.

” On site shopping, you can reserve a space, a restaurant table or washing your car. Why do people go to Covent Garden? “He asked the central part of London.

” There is nothing you can not find elsewhere, but I would say it’s a strong brand. “

Christian Ulbrich, CEO Europe, Middle East and Africa property consultant Jones Lang LaSalle, said: “The store will grow and more adventure parks attacks all your emotions


“For example, Globetrotter a climbing wall and a bicycle shop in Frankfurt for their products has to try,” he said of the German clothing outdoor equipment retailer.


Although retailers and mall owners are struggling to find answers, all agree that the owners of warehouses are the main beneficiaries of the changing patterns of detail.

Any additional € 1 billion in online sales has led to an increased demand warehouse average of about 72,000 square meters in Britain, Germany and France over the past five years a report of Prologis warehouse owner said last year.

“Logistics is the new retail,” said Simon Hope, global head of capital markets at Savills property consultant, referring to how consumer trends will affect how investors see well.

“There is a tendency to move away from the money at all, but the best and the most dominant regional centers in logistics because they economically shielded” he said.

The fact that the Norwegian funds and Chinese leaders have recently invested in the sector, as well as a report that Brookfield, owner of the largest firms of Manhattan, in an attempt to do the same shows paris are serious ongoing logistics property, Hope said.

a good yield of high quality logistics may be six or seven percent compared to four or five percent level for shopping.

As another example of how retailers can reflect on their activities, some of which are likely to contribute to the work on small logistics sites near urban centers for same day delivery is possible, a service increasingly in demand, Ulbrich said .

“The issue they all face is that shopping is no longer a reason to go shopping.”