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ePaper created 2015-05-08, 10:57:20 | version 1.38.0
28 Deutsche EuroShop ANNUAL REPORT 2014 CENTER Modern market places – 50 ye Trends and themes in the shopping center and retail property industry A good 50 years have passed, and there now are around 460 shopping centers (10,000 m2 or more according to a standard definition from the EHI Retail Institute) that function as modern market places to meet a wide range of customer needs. In recent years, an increasing number of new shopping center projects have been developed in urban loca- tions. This trend persists unabated, although the projects in the plan- ning phase and the list of construc- tion projects are becoming smaller due to the distinct shortage of potential development sites. Integrated urban elements The average size of a new shop- ping center is currently 38,000 m2 , with most falling in the range of 20,000–30,000 m2 . People want shopping centers to be closely and comprehensively inte- grated into the respective city or dis- trict and conveniently linked to the existing retail landscape of the city. The development of new shop- ping centers and thus new retail space is reaching a saturation point. retail, which is likely to rise 12% to €43.6 billion. Shopping centers ac- count for an estimated 10% of total retail revenues. This clearly shows that the growth in distance selling is compensating for the decline in the stationary sector. Well-managed shopping centers with established roots in the region Two main factors are responsible for this trend: First, retail spaces have grown faster than retail revenues in recent years and second, the ongoing boom in e-commerce has led to the biggest challenge in the short history of the industry. Growth and shifts in revenue Itisexpectedthattheretailsectorwill grow by up to 1.5% in 2015 and gen- erate revenues of around €466.2 bil- lion. Revenues in stationary retail, or bricks-and-mortar shops, are pro- jected to decline by 1.0%. Growth will once again be driven by online The Main-Taunus-Zentrum in the Rhine-Main Region, which was based on the American model, was the first shopping center to open its doors to customers in Germany in 1964. Its opening marked the start of the history of large German shopping centers began. » Store opening hours in particular have faced growing competition from online shopping in recent years. Main-Taunus-Zentrum, Sulzbach/Frankfurt