Nordicum - Real Estate Annual Finland 2014 - Page 45

Photo: Citycon Oyj are shifting away from the traditional enclosed mall and opting for smaller, specialty lifestyle centers. Lifestyle centres tend to be more heavily concentrated in urban areas, while the larger regional and super-regional centres tend to be more heavily concentrated in suburban and rural areas. You Can’t Do That Online How about the situation in Europe, then? According to Reuters, European mall owners are countering the rise of e-commerce European mall owners by including services that can’t be replicated on the web like hospital care and government offices. If shopping centres become more like full-service community centres, they have a shot for the future, experts believe. Traditionally, mall owners have increased the number of restaurants and cinemas at the premises to persuade shoppers to stay longer – but now it could be worthwhile to focus on healthcare services, given the fact that the European population is ageing so fast. And shopping centres can go digital, too: there are already promotions to reward frequent shoppers who can be tracked via their mobile phones. Furthermore, there are wild ideas coming from developing markets such as Dubai and China where centres are part of wider mixed-use developments where people live or include open spaces where they spend leisure time. Internet shopping can’t be the “be-all, end-all” of retail shopping. The consumer patterns are never etched in stone for very long. Big on Experience Shopping centres also have a “boots on the ground” mentality that e-business can’t match: innovative stores will connect with senses and emotions to make the sale. For example, the German outdoor clothing and equipment store Globetrotter has a climbing wall and cycle track in its Frankfurt store so you can try out the products. Another innovator is Adidas which has successfully turned shop windows into touch Nordicum 43