Approaches by SES CEO, Marcus Wild

Multifunctionality megatrend

With regard to the development of shopping hot spots, what are the strategies of the future?

Marcus Wild: Today, modern shopping encompasses urban life, in which leisure time, living, working, and shopping are connected. This creates synergies and is also a requirement of political regional planning. Quality of stay, culinary delights, emotional presentation, extraordinary services, the human factor, advice, and support are live aspects that only brick-and-mortar retail can offer. The heavily quoted principle "Food is the New Fashion" provides gastronomy with an anchor function. Strategies for the future of brick-and-mortar retailing clearly lie in the individualization and, thus, the personalization of products, consistent target group orientation, stronger customer focus, including advice as well as support, and the trend towards social commitment.

What are the future prerequisites for brick-and-mortar retail in cities?

Marcus Wild: With regard to the cooperation of retail locations with city centers, there should always be a common goal: to keep purchasing power in the city. In terms of commercial know-how, there is also an increasing demand from cities. In that regard, SES is a partner in a pioneer project – the aspern Seestadt– and is developing and operating Austria's first managed shopping street together with the City of Vienna.

How will the trend develop over the next ten years?

Marcus Wild: There will be even more flexibility and information transparency. Shopping centers will fulfill many functions. Shopping alone will be insufficient; the centers will serve as meeting places and marketplaces. Everything will center around ensuring that people feel emotionally comfortable and that our shopping partners are successful. 

 

The entire "Recipes for Shopping Center Success in Austria" author contribution appeared in the 2018 EHI Shopping Center Report.