Nordicum - Real Estate Annual Finland 2014 | Page 45

Photo: Citycon Oyj

are shifting away from the traditional enclosed mall and opting for smaller, specialty lifestyle centers. Lifestyle centres tend to
be more heavily concentrated in urban areas,
while the larger regional and super-regional
centres tend to be more heavily concentrated in suburban and rural areas.

You Can’t Do That Online
How about the situation in Europe, then?
According to Reuters, European mall owners are countering the rise of e-commerce
European mall owners by including services
that can’t be replicated on the web like hospital care and government offices. If shopping centres become more like full-service

community centres, they have a shot for the
future, experts believe.
Traditionally, mall owners have increased the number of restaurants and cinemas at the premises to persuade shoppers
to stay longer – but now it could be worthwhile to focus on healthcare services, given
the fact that the European population is ageing so fast. And shopping centres can go digital, too: there are already promotions to reward frequent shoppers who can be tracked
via their mobile phones.
Furthermore, there are wild ideas coming from developing markets such as Dubai
and China where centres are part of wider
mixed-use developments where people live
or include open spaces where they spend

leisure time. Internet shopping can’t be the
“be-all, end-all” of retail shopping. The consumer patterns are never etched in stone for
very long.

Big on Experience
Shopping centres also have a “boots on
the ground” mentality that e-business can’t
match: innovative stores will connect with
senses and emotions to make the sale. For
example, the German outdoor clothing and
equipment store Globetrotter has a climbing
wall and cycle track in its Frankfurt store so
you can try out the products.
Another innovator is Adidas which has
successfully turned shop windows into touch
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