Forget Brand Temples, Get The Basics Right Then Innovate To Thrive In Retail Real Estate
As traditional retailers increasingly look at ways of squaring up to the threat of online shopping, creating the right value proposition has never been more important. Ahead of Bisnow's next Dublin event on 29 November, focusing on the future of the capital's retail and logistics market, we look at some of the elusive elements that can help drive footfall and increase dwell time.
According to CACI Property Consulting Group Director Alex McCulloch it's all about understanding the customer and creating engaging spaces. CACI has conducted exit surveys with 600,000 people at 200 shopping centres across Europe over the past five years.
Speaking at an event in Dublin in October, McCulloch outlined some of the basics people want when visiting shopping centres and they're pretty simple: a pleasant environment, the option to have a good coffee, and a space to linger if they want to.
Creating this kind of space pays real dividends, he said. “We see consistently that a shopper who engages with catering of any sort spends substantially more on retail than someone who doesn't,” he said. “This trend occurs in every centre…
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Dublin Office Rents Are Close To Peaking
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Avison Young Buys GVA For £200M
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