Real Estate Investor Magazine South Africa June 2016 | Page 44

RETAIL TRENDS

Shopping Centre Model

Turning On Its Head

BY BELINDA CLUR

T

he traditional shopping centre model is
turning on its head, according to indicators
emerging from research covering two million
square metres of retail space across South Africa.
Creative, niche, differentiated store types now seem
preferred to replicated options and smaller, focused
formats seem favoured over large, cumbersome
alternatives, the research at assets of top property
funds shows.
This crucial trend has implications for flexibility,
sizing, mix, design, rentals and retail classifications.
All of these need careful consideration in order
to drive market share and profitability. Shopping
centres play a significant and catalytic role in driving
economic growth, says Marius Muller, chief executive
officer of Pareto. “It is therefore critical that these
leading indicators are understood in order to best
meet current consumer needs, capture elusive spend
and help support South Africa’s growth.”
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JUNE 2016 SA Real Estate Investor

Malls should focus on providing a
lifestyle trend-driven and tranquil
community meeting point with
a social, relaxation, design and
shopping experience comprising
care, ‘human touch’ etc..
We live in an increasingly demanding world driven
by ‘glocal’ environmental, population, economic and
safety pressures. The consequence of this is stress
due to resultant time, space and security concerns.
This theme has numerous related and intertwined
trend implications for future successful shopping
centre strategy. There are seven key trends currently
emerging from Retail LiveTM findings, and within
the context of these, one must be sensitive to specific
catchment profiles.
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