There’s a saying that suggests that the way to a man’s heart is through his stomach, and being a lover of good food, well sourced products and a general believer in getting what you pay for food-wise, I’d suggest that there is some truth is this statement. What however does this have to do with retail?

 

Well, like most things associated with the retail markets, this is about trends and being able to distinguish between what looks to be a long term and successful prospect and what is simply a passing fad or trend.

Food and the availability thereof is something that tends to have a natural affiliation to the organised retail sector. Malls are very much seen as one-stop shops, as well as becoming social and convenience oriented destinations in our busy lives. As a result, because of our rather hurried habits and time-short lifestyles in the Middle East, the malls that we visit have typically tended to become part of these harried lifestyles, as opposed to shaping or possibly defining them.

However, this may be about to change. Developers and especially shopping mall developers are a canny lot, as they tend to be able to know what we as their customers want before you or I might even realise that we want it. As a result, they are also pretty good at spotting new opportunities and consequently, also making us part with our money in ways that we never thought possible.

The new regional trend (and this is one that certainly seems to be here to stay for some time yet) has been born from what appears to be an unwavering consumer demand for a combination of open space, waterfront property and yes, food.

As such, there has been a rapid increase in the number of mixed-use but predominantly residential developments that are seeking to provide outdoor space that is combined with high quality retail stores and restaurants. They make a welcome alternative to the rather ubiquitous mall-based foodcourt and in most circumstances also offer a distinctly healthier array of eating options. Without a better alternative these developments are simply being coined as outdoor lifestyle areas, however they’re here to stay and if the few existing examples are anything to go by, will continue to be extremely popular, backed by strong consumer demand.

Outdoor alternative

Regardless of the lack of a more accurate description for these spaces, they are flourishing throughout the Middle East as many new developments are increasingly dedicating time and efforts in precisely defining this outdoor space, and in most circumstances they are being seen as the next shopping mall alternative. The simple philosophy being that if a developer can provide an ample array of quality food and beverage outlets, alongside a good smattering of appropriate retail stores, then not only will the local population be more willing to spend time in the area, they will also decrease the need for them to drive away from this area, to the nearest mall. The result is a happy and satisfied combination of both consumers, who get to spend time outdoors, eating and drinking and the developer who maintains a high rental income from the busy and successful retailers.

These areas work especially well as social focal points to waterfront properties and given the regions current love affair with this type of development, I for one am looking forward to the many new brands and restaurants at which I can sit and watch the world sail by.

- The writer is Head of GRMC Retail Services, Dubai.

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