CAN INDEPENDENT RETAILERS FILL THE GAPS CONVENTIONAL RETAILERS CAN’T IN THE SHORT TERM?
A broad spectrum of retailers are eager to trade in shopping centres as lockdown measures are eased and our research shows that there is significant interest in trialling new venues from the independent and online sector.
“Revive” interest has been strong in first few weeks since launch
Since announcing our new product Revive, we have been encouraged by the feedback we have received on this new concept which enables property owners to re-populate empty units as lockdown measures are eased with short-lets.
Initial research into the SpaceandPeople customer base showed that 86% of retailers surveyed were interested in taking immediate space in shopping centres once they reopened, as many have this week. These retailers covered a range of industries with the top sectors in line with our core on-mall retailer customer base:
Broad Range of Independent and Online Retailers Who Have Not Previously Traded in Shopping Centres Also Showing Interest
Revive has generated positive interest from both property owners and retailers. What has been of particular interest is the sheer breadth of retailers who have been interested in taking space. Their motivations are as diverse as their products or services. Some see pop-up retailing as a chance to reinforce their online business. Others are looking to take space as a result of cancelled summer events.
For 3 shopping centres, we achieved 13% conversion of calls into interested retailers of which 24 have converted into confirmed offers so far. The confirmed offers ranged from fresh produce to art shops, millinery to experiential chocolate shops and reinforced the diverse interest in temporary retail.