viewpoint
Published: 30 September, 2008
We've not had much of a summer to speak of, so for once September doesn't seem too premature to start thinking about Christmas.
It's clear that this year's Christmas trading season is going to be make-or-break for quite a few retailers. If it turns out to be a washout then expect a tsunami of store closures to break over the sector come January.
Already the prophets of doom are forecasting that the festive like-for-likes are going to be anything but. It's clear that hard-pressed consumers are going to need every encouragement to come out and spend.
And that's where shopping centres have a role to play. It's not going to be enough just to get the Christmas decs up, install Santa in his grotto and expect it all to happen. It's going to take real creativity to come up with an events programme that pulls in the crowds and creates a real buzz that'll get those tills playing 'Jingle Bells'.
All the talk about monthly rent payments really is a non-starter. Land Securities' Francis Salway has described it as "a straight transfer of value" and with property companies' share prices on the floor they certainly aren't going to agree to that.
But working harder than ever to support retailers over Christmas is something practical that owners can do to demonstrate that their interests are, in the final analysis, aligned with those of the retailers.
The time has come to demonstrate to retailers that there's a real advantage to be had in locating in a well-run shopping centre.
Centre managers really need to get behind their retailers now, because if they don't, they're going to find themselves managing half-empty centres.
Graham Parker, Editor
