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.
Proposed next steps:
You need to be the project owner to select a next step.
To get more of the information requested, we’d recommend dedicating additional research to add an additional 6-8 examples of innovations and trends in the shopping center space in Europe.
Since we discovered during our research that mall visits, while still about shopping, have become more activity driven, we would also recommend dedicating research to build a list of 6-8 activities that newer or more innovative malls currently accommodate