Corio CEO Gerard Groener has outlined his company’s strategy for meeting the challenges posed by technological developments in the retail marketplace.
Corio CEO Gerard Groener has outlined his company’s strategy for meeting the challenges posed by technological developments in the retail marketplace.
In an exclusive interview on the City Leaders website, Groener identified three major challenges facing all retail investors and developers: increasing competition from e-commerce outlets, increased expectations of increasingly connected consumers and the social obligations that come with sustainability.
Groener believes that shopping centres have to provide a social experience to succeed. 'It’s not [enough] to just put a number of shops in a row and a roof over it. You have to present [people] with a place where they like to come for any reason or for no reason,’ he said.
The blue-chip retail property investor has developed its ‘Favourite Meeting Places’ strategy to enhance the retail and social experiences it offers and increase direct results. The concept is centred on six key elements (‘The Six Cs’) that work together to ensure each new retail outlet is at the heart of the community it serves.
Strong local relationships, a customised experience and the incorporation of other functions (such as events spaces) all help ensure each centre is more than just a retail space.
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