The power of attraction
Turnover of tenants in shopping centres
A typical pool of tenants at a shopping centre is changing again as food & beverage segment on par with entertainment operators are on the rise. Anchors themselves are developing too by updating their design and offering new functions and experiences to their customers. Shopping centres today are approached by operators which have never been seen around before and they are trying something new. Some are cutting down on their floorspace and attempting to reach their customer by coming closer. Tenants are now more than ever joining together into clusters to scale up their mutual attractiveness for customers.
A modern quality shopping mall, except for a single-use property or shopping centres enjoying their high foot- and automobile traffic, is unthinkable of the bare minimum of tenants historically consisting of a food hyper- or supermarket, an appliance and electronics store, a children’s store and some famous fashion shops. They can be spiced up with sports goods, a movie house and a food-court with a varied assortment of fast-food restaurants. The mix is standard, yet it is already changing and there is more to come.
Let’s take the food stores which used to be key tenants in any large shopping centre just a while ago and for that reason occupied the ground or the first floor. Now you can buy food anywhere you go, the chains have been developing rapidly and opening their shops while customers prefer to buy their food from a neighbourhood shop.
“The consumption pattern is changing. We can see how everything is being digitalized, the retail goes online, delivery services and other modern trends are incredibly popular. Retailers do not need large floorspace anymore and traditional anchors have learned to adapt. Stores are shrinking and the space is used more effectively as it is filled up with new functions, services and events. As a result, a new format appears, retailtainment,” says Anna Obraztsova, ADG Group’s Commercial Director.
Real disposable income in Russia has been falling since 2013 and economists are expecting the decline to continue this year. During the period of financial instability, ‘homo economicus’ prefer to tighten the belt and stick to the couch while shifting their attention to online-shopping.
Traditions
Saving up