Retail is shifting more and more towards worlds of experience. Shopping is entertainment – in short: shoppertainment. We are landlords ourselves and create such worlds of experience with a mix of retail, gastronomy, healthcare and cultural offerings. We are virtually competing with other experience destinations such as amusement parks as ‘Europa-Park’.
With regards to retail, city centres are currently experiencing a downward trend. This is mainly because of too high rents, chain stores, interchangeability. The process is both self-reinforcing and self-destructive. Municipalities and cities have a much harder time developing an overarching concept for the end customer than retailers do – there are simply too many different interests in play. We will use space differently in the future and need to increase city centers’ quality of stay again – so this can be a good trend.
