Review of MAPIC 2014 – Day 2Digital Editor
Day Two has given the jam-packed news from Day One a run for its money! It’s daunting, yet thrilling to digest all of the new and planned developments, market shifts, and digital technology implementations. So, let’s not waste a second. Here are the most exciting bits from MAPIC Day Two!
Despite the consistent trend toward online and mobile shopping, CBRE released findings from their international survey stating that 79% of shoppers prefer the experience of shopping in-store. This information solidifies leisure and destination based shopping centres, such as Polygone Riviera, Mall of Scandinavia and Palma Spring by Unibail-Rodamco. Land Securities has also capitalized on the in-store experience with their Buchanan Galleries development in Glasgow, Scotland. Buchanan Galleries has already secured Next, Superdry and Mango, as well as two prestigious catering operations. Land Securities has previous success with leisure and destination shopping centres as evident by their Westgate Oxford centre in Oxford, partnered with The Crown Estate, that includes Michael Kors, John Lewis, and Curzon Cinemas using premiere Sony 4K digital projectors. Similarly, Queensberry Real Estate’s new retail and leisure destination, Friars Walk in South Wales, plans to open in November 2015 with 35 stores, 10 restaurants, a food court, an eight-screen Cineworld multiplex, and anchored by Debenhams. Who wants to go for a day out?
While the in-store experience is crucial to attracting consumers, Cushman & Wakefield has released findings that E-commerce is the most significant factor shopping centres on a global scale. Intu Properties has incorporated these findings by including 4G in all of their centres and launching their own e-commerce site. Klepierre is using digital technology to engage consumers by trialling PlayBox, developed by Clear Channel, that allows shoppers the chance to win gift cards and goody bags through a gaming link via SMS.
Food and beverage has been a hot topic at Day Two! JLL has added a food and beverage arm by purchasing Coverpoint Foodservice Consultants. This is the first time a leader in the property industry has incorporated specific food service advisors. This is a wise move as Hsiang-Yun Chu, the senior director of retail services at CBRE China in Shanghai, was quoted saying that food and beverage sectors are experiencing rapid growth that is expected to continue through 2015.
IKEA Shopping Centres Russia and Westfield Milan are incorporating trends and consumer awareness by targeting developments to the shoppers’ desires. IKEA is investing €2 billion to extend and develop centres around Russia, such as using €260 million to construct Mega Mytischi in Moscow, which will be one of Europe’s largest malls. IKEA is using the remaining funds to invest in new locations and store formats like two DIY anchors and locating to Eastern Siberia. Westfield is following the scheme of The Village at Westfield London to bring luxury brands to a shopping centre in one of the world’s undisputed fashion capitals. Carrying luxury brands at Westfield Milan will attract new brands, as well as restructuring the public’s accessibility to luxury brands.
Overall, Day Two was a whirlwind of trends, future plans and festivities. From the launch of Retail Real Estate Market (RREM), a MAPIC-powered two-day event from 11-12 June 2015 in Shanghai, to the MAPIC Awards Gala and Party complete with Fireworks embellishing the Mediterranean sky over the Promenade de la Croisette. Cheers to the nominees and awards winners! It’s safe to say the property and retail attendees will be fully acquainted with France’s illustrious champagne and wine!
And on a final note…
Following on from our Managing Director Dan Innes’s successful completion of the monumental ‘Cycle to MAPIC’ challenge, Innesco was again ‘out performing’ today on the centre court. Innesco’s tennis duo of Charlotte Fougeres and Claudia Kauert went out and showed the seasoned MAPIC tennis regulars a thing or two at the MAPIC 2014 Tennis Tournament, congratulations to the ladies for today’s efforts!