Innovations in Mall Spaces in Europe
Delivered October 9, 2019. Contributor: Ore A.
Goals
To find examples of innovative malls/shopping center spaces and trends in Europe as input for an innovation strategy workshop.
Early Findings
- The trend data for shopping centers is mostly positive. Shopping center revenues are on the rise, and 88% of millenials intend to do more of their shopping in malls and shopping centers, so provision must be made for that.
- Business in shopping centers in Europe have grown annually at 4.5% between 2010 and 2016, making expansions of those kinds of retail properties a consistently viable option.
- 55% of European customers expect would expect to be able to see movies in a mall, while 44% and 28% would like to see more of restaurants and virtual reality entertainment/gaming.
- In recent times, the most relevant shopping centers have innovated to create retail, leisure and entertainment destinations as part of whole community developments.
- The Fiketorvet Extension, which is part of the Unibail-Rodamco-Westfield Group, integrates its offline mall experience with an online experience for customers, allowing them to login and make purchases of movie tickets and enquiries online.
- The Westfield London Mall is built with enough space to incorporate celebratory events, such as festivals and fun fairground activities.
- Malls like the Xanadu Mall in Madrid have noted the need to provide a watering hole to accommodate changing demographics. The mall features a ski slope, go karts, balloon rides, bowling and billiards.
- More malls are also creating mall loyalty programs to establish direct relationships with customers that go beyond each visit to the mall.
- The use of technology is also a big draw. Parking lot sensors provide visual indicators to drivers, and mobile apps offer quick aid to shoppers to help them find what they're looking for.
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
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