6 minute read
WE SET NEW STANDARDS IN THE RETAIL INDUSTRY
INVESTMENTS
Nemanja Bućinac, MPC Properties Retail Leasing Director
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With an updated interior, an improved offer – especially in the food&beverage segment, and a variety of even more attractive fashion brands, UŠĆE Shopping Center will be able to create a unique customer experience, while remaining one of the main landmarks of the city, says Nemanja Bućinac, MPC Properties Retail Leasing Director
By:
JOVANA NIKOLIĆ
Photo:
MPC PROPERTIES
T
he news that MPC Properties is about to launch a redevelopment of the UŠĆE shopping mall with the aim of enriching its offer and refreshing the visual character of the building has expectedly caused great interest. Expectedly for two reasons: the first is that this shopping mall is a favorite of both Belgrade residents and visitors; and the second is that this project will be carried out by one of the region’s leaders in construction and property management, with vast experience in the development and management of major retail projects in the country. For these reasons, the expectations are huge, both from the UŠĆE SC and MPC Properties, which manages five shopping malls in its portfolio. Nemanja Bućinac, Retail Leasing Director of MPC Properties, explains the changes this shopping mall will undergo, and the future trends of the retail industry.
UŠĆE SC’ s response to new market conditions and the entry of new competitors has been long awaited. What are your plans for upgrading the of4fer and the overall shopping mall experience? — Continuous change is in the nature of the retail industry. MPC Property, being a market leader, is responsible for adapting its business to the market’s needs or, actually, the needs of the customers as the ultimate users. It is of the utmost importance for us to follow global trends in this field and to make our contribution to innovations in our environment. In line with this strategy, UŠĆE SC, as a category leader, will introduce new trends and a modern design while keeping in mind community needs and the environment, as well as the people themselves and their priorities. SC UŠĆE will be thoroughly refreshed, not only when it comes to its appearance but also in terms of introducing new content and upgrading the
offer. The ultimate aim is to bring more excitement and interesting, up-to-date content to the shopping process. It is crucial to have an improved offer, particularly in the food and beverage segment, on one hand, and the modernization of the interior, on the other hand.
What changes do you intend to make to the interior design as well as the food&beverage offer?
— Modern interior design will allow for an easier connection between the floors and improved store visibility. This will allow visitors to move more quickly and easily within the mall. When it comes to the food and beverage offer, this segment will experience a true renaissance. With the new formats at key positions in the center overlooking the rivers, i.e., the entire city, UŠĆE SC will become a new gathering place for the most attractive cuisines in the world. The new and updated Food court, in a completely new location, will significantly contribute to an improved fast-food offer and a new, unique experience for our guests. On top of that, UŠĆE SC will update its offer of fashion brands and introduce new places for entertainment and relaxation with family, colleagues, or friends. UŠĆE SC will undergo many positive changes while, we are confident, remaining one of Belgrade’s main landmarks.
Which categories and brands make a difference when it comes to the performance of a shopping centre?
— A current trend in this industry is the expansion of the food and beverage segment, and this trend has developed from the fact that the shopping malls have grown beyond their initial purpose—they have become much more than just shopping places. Today, these are places where people spend their free time, socialize, and live their lives. As of late, we are witnessing an expansion of gastronomic offers and entertainment content. Also, as fashion keeps changing, we can see that sports outfits are becoming part of the business “dress code”,
so the sports outfit category is becoming increasingly important in a shopping centre’s offer. I support this trend myself. People are becoming increasingly aware of the need for comfortable clothes, which they have to wear all day long. On another issue, brands are increasingly using alternative ways of presenting themselves in a shopping mall, such as, for example, popup shops. They are not widespread, but it is interesting to note that some brands, while having their store in the mall, like to use this option as an additional sales channel or for the promotion of specific products.
Of course, the presence of the major retail groups and their brands in shopping malls is a must.
What are your predictions when it comes to the future trends of the shopping mall industry?
— The shopping mall industry is lively and keeps changing. The reason for this is the customers’ expectations, which are very demanding and constantly changing. Nowadays, every customer expects to see something new and have a different experience every time they
visit a shopping mall. So we have to, together with the brands, work intensively on enhancing the customers’ shopping experience and making sure that the customers are offered something new. Shopping malls and brands can no longer rely on traditional ways of selling but must come up with innovative solutions that the customers will find amusing. Customers’ involvement in the purchasing process to the highest possible extent should be ensured. To achieve this, it is necessary to offer additional benefits to consumers. MPC Properties, as a company managing not only shopping centres but also business facilities, has launched a mobile loyalty platform, Your Centre. It practically links all our shopping malls - UŠĆE, BEO, Mercator and Delta City, and allows our customers to earn points for shopping, which they can further use for discounts and gifts.
How has online shopping changed consumers’ habits when it comes to visiting shopping centres?
— When it comes to our industry, we are seeing people going back to their old habits. This practically means that going to shopping malls is still the number one way of shopping, although it is possible to purchase your goods on numerous online platforms. The pandemics provided an excellent opportunity for the online market to show its strength, but we are now seeing that physical shopping remains dominant, covering around 85–90% of all transactions. Stores are currently undergoing a transformation and are focusing on enhancing potential customers’ experiences. We kept in mind these new trends in planning the UŠĆE SC Redevelopment project.
Can you announce the arrival of some new brands in the shopping malls in your portfolio?
— Our aim is to continuously enhance our offer in shopping malls. We are negotiating with several brands that are still not present in our market. However, this is confidential information, which I cannot share with you at this point. The crucial thing is that we are working on some big and positive surprises.
Do you think that UŠĆE SC has competition?
— It certainly does, and I must admit, it is getting more and more significant, which is good for the industry and the market in general. However, when it comes to statistics and results achieved, we may conclude that our efforts in the past 13 years have ensured that UŠĆE SC remains the absolute leader in the region, a shopping mall setting standards for the industry. Apart from what I said earlier, our focus in the upcoming period will be the implementation of a comprehensive socially responsible strategy, in line with ESG factors (Environmental, Social, and Governance), with the aim of promoting sustainable projects benefitting the overall community.
