Shoppers who eat during their visit to a shopping centre make 25% more transactions; spend 12% more and stay 35 minutes longer in a mall compared to shoppers who don’t stop to dine, according to new data from Coniq, Europe’s leading CRM and Loyalty provider.
Coniq’s data comes from more than 700,000 transactions in shopping centres across nine European countries between October 2015 and November 2017, and demonstrates the increasing global appetite to combine retail and leisure in modern shopping centres. Landlords are alive to the tangible benefits of F&B and leisure in traditional shopping destinations, with recent research from real estate consultancy JLL suggesting that leading shopping centres will allocate up to a fifth of floor space to the sector by 2025, up from 10-15% currently.
Ben Chesser, Coniq CEO, commented: “While the model of combining retail and leisure is one high street brands are increasingly moving towards in a bid to enhance the consumer experience, shopping centres have been embracing this for many years. And, as consumers increasingly want ‘experiences’ built in to their shopping trips, F&B is transforming the mall landscape – allowing forward-thinking centres to capitalise on the increased revenue opportunities that incorporating F&B options presents.”
Ian Hanlon, local director of foodservice consulting at JLL, commented: “In recent years, more money has been spent on eating out than ever before, and this trend looks set to continue. Millennials in particular are more willing to spend their money on a great experience rather than ‘stuff’, and as a result, retail schemes across the world are increasing their allocation to leisure and F&B and introducing innovative food operators and concepts. The right F&B offer can help attract new and different audiences and enhance the profile of a retail place.
“Looking to the future, we’ll see technology unlock the true potential of the industry. Apps allowing remote ordering, food delivery to your airport gate and discounted lunch subscriptions through services like Meal Pal. There are even rumours of predictive ordering, where your phone picks up on words like ‘hungry’ in messages to friends and sends proactive suggestions of places to eat. What’s certain, though, is that there is real opportunity for foodservice operators to tap into new customer types and eating patterns as they evolve.”