Food & beverage (F&B) operators have doubled the amount of floorspace they occupy in shopping centres over the last 10 years, from 7% to 15%, according to research from JLL.
Foodservices in shopping centres across Europe currently accounts for 15% of the total GLA. JLL predicts that this will rise to at least 20% in total over the next decade.
Europe Real Estate recently reported that almost a third of all visitors to shopping centres across Europe, South Africa and the Middle East will visit a restaurant or coffee shop. Shopping centres now recognise that food is a key ingredient in encouraging dwell time in shopping centres. Figures show that customers who eat during a shopping centre trip spend on average 27 minutes longer across the shopping centre and spend 18% more in overall transactions.*
JLL also predicts there will be more demand for Asian food operators. As China and other Asian markets have significantly expanded their overseas travel footprint, as well as recent visa relaxation particularly in the UK, there will be more demand for Asian food operators in malls.
Jonathan Doughty, MD of Coverpoint, JLL’s food consulting business, commented: “In a new online world experience is king and gastronomy will be the social glue that will hold retail spaces of the future together. The rise in online sales means that consumers are looking for leisure and culinary experiences from their shopping centre visits as this is something that is still impossible to do online. Well-configured and complementary dining and drinking provision can add real diversity and vitality to major city markets worldwide, and can often boost consumers’ shopping experience and dwell time, as well as giving consumers a reason to keep coming back. This is only set to rise.”
Robert Bonwell, EMEA CEO of retail at JLL, added: “The retail narrative at the moment is physical versus online, however the growth of food and beverage highlights the opportunity that exists for restaurants and food offerings that can tap into new eating and leisure trends.”
*Figures from Coniq
