Back to Retail and operations for landlords in 2021

Time of "retail prophets" and other gurus is over.There is no miracles to expect from a retail perspective and either you take the rights decision and adopt relevant business models or you will just disapper.A lot of inovative initiatives have been undertaken already by landlords and tenants.From digitalization to market place, by creating immersive experiences and places to socialize again in a new way or by defining a new collaborative model.A new deal based on sharing incomes, flexible leasing contracts and sizable areas.However, every one remains in his role.Landlords aim to generate footfall and suitable places to welcome tenants in charge of bringing products, concepts and manage it.It is not enough anymore.People always focus in the way brands and retailors need to re-invent themselves and it is a necessity.What about the role to play by landlords ? Discounting rents and bringing food halls and leisure is a must but will not feel in the vacants and replace dead department stores.Despite we assumed that there is no miraculous strategies, let's take a look to asian or middle east business model.From the begining they bet on mastering their own chain of value being ofently investors, developpers, leasors and managers of their assets.The idea is simple : be the master of your own destiny and create what does not exist instead of importing unrelevant concepts.Same philosophy at Triple Five Group in US.As a result, a balanced merchandising mix with Retail, F&B, Leisure, Art, Sport or education under one roof.Tomorrow will arise new partners from the hospitality, public services or technology world.Landlors must adapt their core business and organizations to become an actor of the diversification of their assets.We learn this from emerging markets as well, because you have no choice : to deliver proper standards you need to source it on a local level, create a community of suppliers and operate it with companies you created from scratch.Europe has become an emerging market in that extension that outsourced financial and operating standards do not work anymore and need to be replaced by integrated one.Becoming a retailor through master franchising and " Leisure and Entertainment " departments is a necessity.Hundreds actors have desappeared and won't come again but thousands are jeopardized.Time has come to jump in the business, to create JV and Master franchises to survive first and thrive again later one together.May be landlords will decide to step down later on after having secured the business or may be they will remain as senior partners in new deals.What is christal clear is that this a genuine Marshall Plan to start on wich landlords, retailors and suppliers will play the same game and learn from each other instead of watching passively a coming bankrupt.

About the author.

Gilles Devendeville is the founder of Real Consulting ( France ) a consultancy boutique focused on Place making and leisure strategy and The Leisure factory ( Morocco ), focused on expanding Retail franchises and Leisure concepts in Mena www.realconsulting.fr

Speaker ( Mapic - Leisure Up - ) Author ( The day when Leisure will save Retail ) and Board Advisor in Leisure and Distribution companies in USA - UK - France - Italy and Morocco