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1) How long have you been in retail?I have been in retail for 14 years now; 4 years at JLL.
2) What changes have you experienced in this time?Nothing is more constant than change! Changes within retail occur on several items:• Retail and investor markets became more and more international• Demographic change• Quality requirements for shopping centres (generation of a change to be)• Segmentation concerning focus groups (age versus target group)• Importance of E-commerce (comprehensive possibility of price comparison)
3) What is the most exciting thing about working in retail at the moment?• … on strategic level... Organizing an international work approach cross Europe (International Business Development) • … on portfolio level….Growing interest of international investors in German retail properties• … on object level….Bringing together different parties (developer, landlords, service providers, clients) and consumer target groups and create answers for the future how to react on changing issues.
4) How do you think consumer demands/expectations are changing?In former times shopping was done mainly for maintenance reasons. Today shopping is entertainment and sometimes aggressive pricing (i.e. discounters) works against entertainment factors.Interesting facts to note are:• 30% of the customers indicate shopping as a hobby• 70% of the customers come to a decision directly at the point of sale.
The highest impact is caused by the customer itself: he/she becomes more and more "hybrid" (saving money i.e. for foods to spend it for luxury goods). One of the most successful marketing slogans of today was/is: Avarice is cool!
5) What’s the most important issue facing retail over the next 10 years?Retail is detail!
Therefore, all parties need to be swift to react on running circumstances. The questions we are facing today are:• What about the function and flexibility of retail properties?• What does that mean regarding the proposed rents/turnovers/profitability?
An important issue concerning the planning of shopping centres is demographic change. Retail in general and especially shopping centres, have to find solutions of how to attract best agers to spend more money on consumption.