Beatrice Mouton, Head of Retail - CEE

1) How long have you been in retail? - 15 years in retail, 18 years in Central Europe

2) What changes have you experienced in this time? In the past 18 years, the changes observed in Central Europe have been phenomenal and very exciting, going from no man's land to State of the Art Shopping Centre in just barely 15 years when it took over 40 years in Western Europe. A great achievement, Central Europe has over 500 shopping centres for a population of 85 million. Whilst the shopping centre remains King and the preferred format across the region, other formats have developed in the region such as Retail Parks and Factory Outlets. There is as well a renewed interest in the city centre with several refurbishment or redevelopment projects taking place in number of regional cities. Central Europe has shown its capacity to adapt and embrace the latest formats, technologies and trends observed in the Western European markets. The continuous growth of the spending power sustains the Central European customer thirst for the latest products which is not likely to abate soon.

3) What is the most exciting thing about working in retail at the moment? Retail is a fascinating industry constantly evolving and adapting to the needs of its customers even more so in the 21st century with the new technologies, social networks and evolving customer base. Central Europe is not immune to these trends. With the availability of the new technologies amongst the CEE household, a growing number are shopping over the internet. In addition, some Central European countries are registering a small baby boom forecasted to last for the next 10 years. Retail is fast moving creative industry constantly challenging the present to move into the future. You are dealing daily with different dynamics, cultures, shopping behaviour and aspirations which have to be met leading all of us forward.

4) How do you think consumer demands/expectations are changing? We are living in a fast moving environment new technologies having invaded our daily life. It does impact on shopping behaviour, customers wanting the latest product, fast and cheaper. Thanks to internet, customers are becoming extremely knowledgeable and therefore more demanding in terms of services and products. Comparative shopping has become an effortless exercise. The customer is in control and far more powerful than in the past. The change in age structure is impacting on shopping patterns, the expectations, needs and demands from the younger and the older generation being different. Customers whether old or young want to be entertained and find goods, services and products matching their respective aspiration.

5) What’s the most important issue facing retail over the next 10 years? The challenge ahead is to adapt, convert or maintain the attractively of the existing retail infrastructure. It is important to demonstrate to customers that visiting a shopping centre or going downtown remain an attractive and fun activity. Retailers and landlords have to demonstrate that internet has its limitation and cannot offer certain sensation. We remain social animals who like to mingle amongst our peers despite all its high tech, the internet is not able to appeal to all the senses. Retail in the years to come needs to ensure that shopping remains a special and social experience appealing to the senses.