My 10 Quick Takeaways from Mapic 2018
1 – Significance of the store
Higher conversion rate offline than online : up to 30% off-line vs 4% online
2 – Alibaba knows how to blur the lines
3 – Millenials do make a difference in Asia
Roughly 60% of global Millennials reside in Asia. And 60% of them would rather spend money on experiences than material things
4 – Leisure is transforming retail destinations
As long as leisure is integrated in retail locations to create one unified place where people live, eat, work, play.
5 – The retail winning mindset
Landlords as hosts, customers as guests
6 – Eatertainment
When F&B is mixed with leisure and culture
7 – 12 is the new 10
Over the last months, significant acquisitions occurred in the F&B industry. And valuations have soared. Now 12 X Ebidta is common. Vs 10 times before. And it is likely to increase dramatically in the years to come.
8 – The Time Economy
Customers spend time and money in retail spaces. Time has become the critical asset. As a consequence, retail spaces are poised to re-purpose themselves to become social places where emotional connections and social interaction are favored.
9 – Key factor of F&B industry players for the next ten years
Be small, local, authentic, anti-brand and technology savvy
10 – Promotion fatigue in the physical space
Whereas in the online world, 3 promotion events have become just phenomenal : Black Friday, Cyber Monday and Double 11 (Single’s Day)