Pareto Limited has acquired a 100% stake in Menlyn Park Shopping Centre in Pretoria, the management of which will now fall under Pareto's newly established property management company, Mowana Properties. CEO Marius Muller provides an outlook for 2015's festive season sales. While sales are likely to be flat and hard-pressed to beat inflation, consumers are equally hard-pressed for time, but there is one place where bigger is better this festive season, and that is the regional mall, he says. Deloitte released its 2015 Year-end Holiday Survey, suggesting that consumers are cutting back on discretionary expenditure on luxury or non-essential items, and demanding more from retailers in terms of lower prices, better service and responsible business practices. Charlene Olivier shares her opinion on the shopper revolution. "It's a romance that has gradually gone from a loyal shopper-based living arrangement to one of superficial promiscuity, where the newest, fastest and sometimes most affordable is far sexier... The digital retail platform," she says, "has allowed us to satisfy our hunger for that shopper rush, without getting out of bed and dressing up to go face the masses... guilt-free." Exclusive Books at Hyde Park Corner is embarking on an 'experiventure' - part social experiment, part commercial adventure, says CEO Benjamin Trisk, marking the second store to transform into a restaurant with books. However space remains a challenge. "We've done half of the Waterfront (store). We need to finish, and we need more space there," he says of the 800m² space. "We've also got to redo (the store at) Cavendish (Square). I want more space, it's a very successful store, we need to do something that honours our customers there," he says.
Jessica Taylor, Retail Editor (@Biz_Retail)
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