Toy shop chain Intertoys has become the latest Dutch retailer to run into financial trouble as it battles against competition from webshops and discounters.
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Despite threats from the value sector and e-commerce, European outlet centres have continued to perform well in the last decade, bucking the negative trend.
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Retail landlords across Europe are struggling as e-commerce eats into physical store sales and underperforming mature retail assets pressure profits. After the UK, where the market has weakened considerably, the Netherlands and Germany could be next, writes Isobel Lee.
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The role of leisure, culture and education in shopping centres will come under the spotlight at this year's Mapic retail trade show which has as its 2018 theme: Physical in the Age of Digital.
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UK retailers are squeezed more than their peers in continental Europe, according to Rogier Quirijns, portfolio manager of the European Real Estate Securities Fund at Cohen & Steers.
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The European outlet centre industry is still set to outpace traditional retail in terms of growth, but operators and retailers will need solid business plans to differentiate in the future, delegates heard at the ICSC European Outlet Conference which was held on Thursday during the ICSC European Conference in Barcelona.
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The City of Barcelona’s recent crisis point has proved a catalyst for positive change, according to keynote speaker Greg Clark, global advisor on cities, speaking at ICSC’s annual European event in the Catalan capital.
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The Spanish retail market’s stellar fundamentals and the dynamic backdrop of Barcelona provide the perfect platform this week for the International Council of Shopping Centers (ICSC)’s annual European conference, delegates heard on the opening day of the event.
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The opening in March of a 69,000 m2 extension to Westfield London in the UK capital exemplifies the trend in shopping centre development that has been evident across EMEA for some time. Extensions to, and redevelopments of, existing shopping centres are the big story in western Europe, while new developments are more likely to be found in the east.
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The growing amount of space being allocated to F&B and leisure in shopping centres ties in with a structural shift which sees consumers increasingly valuing ‘experience’ over ‘stuff’.
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