Nordicum - Real Estate Annual Finland 2019 - Page 29

ma The artist’s vision “Currently, perhaps 10 % of all con- sumer purchases are made online. It’s diffi- cult to pinpoint the actual impact on shop- ping centers,” she says. Food is the New Fashion? According to Aho, however, businesses such as fashion stores – where a consumer can go try a dress on at the store and then order it online – may be decreasing their presence in shopping centers while cafés and restau- rants are perking up. “In addition to food and beverage, also all types of experiences are very much a trend as REDI and Tripla are demonstrat- ing. Still, also smaller centers can boost their experience by offering various events, for example.” Aho believes that people will still enjoy going somewhere where there’s other people and activity – whether it’s a cup of coffee, going to see movie or doing some Christsmas shopping, shopping centers sim- ply “meet the need” in many regards. “I don’t think that we will ever witness a situation where actual, real-life retail com- pletely disappears.” Destination Driven Internationally, there are even widely rec- ognized “destination centers” – such as Xanadu in Spain or the Mall of the Emirates in Dubai – which offer compelling attrac- tions such as theme parks, indoor ski slopes, large c ­ inemas and theaters, museums and art galleries, event space for concerts, food festivals... According to American consultant agency A.T. Kearney, future CESs will be environments where people gather to engage with friends, seek out unique experiences, reaffirm values, and interactively relate to brands; commercial transactions will be a by-product of socialization and engagement. A.T. Kearney argues that CESs may resem- ble today’s shopping centers and malls or look quite different, but their common focus will be on creating platforms that facilitate sales by recognizing, understanding, affirm- ing, and connecting individuals. Shopping center owners must, how- ever, learn to embrace new technologies to reach this new golden age. For stores, there are handy e-tools to identify individual shoppers, track purchases, analyze behav- ior, communicate with customers, and cre- ate real-time commercial opportunities. More and more, consumers will expect – and demand – highly curated, frictionless shopping experiences. Action Agenda According to A.T. Kearney, some physical retail spaces will take the form of smaller, “smart,” dynamic formats serving as hubs Nordicum 29