Major trends shaping shopping centres

    Citycon recognises four major trends that are likely to shape future of shopping centres: urbanisation,
    challenges for us.

    Urban growth

    Retail trend


    Growth of cities and increased density of urban areas: demand for proximity 

    • Nordic capitals are the fastest growing cities in Europe
    • Increased reliance on public transportation: car losing its role as a necessity
    • Changing demographics: ageing population, smaller and single-person households

    Increasingly important role of location: growing need for easily accessible services 
    → By 2040, the population in the Oslo region is estimated to grow by 30%
    Citycon's response:
    Focus on shopping centres:
    • In urban locations with strong population growth
    • Dominant in their catchment areas
    Constantly improving portfolio quality:
    • Divesting non-urban, smaller properties and developing and expanding core properties 


    of the portfolio in capital areas


    linked to public transportation 

    Modern consumer

    Retail trend


    More than shopping: searching for a social experience
    People are looking for daily services, fashion, food, entertainment and culture in a single place
    Increased demand for:
    • Quality F&B (food and beverage) offering
    • Leisure activities in connection with restaurants and stores
    • Integrated public services
    • A meeting place for the community
    • Modern, attractive atmosphere
    • Services 24/7 
    Citycon's response:
    Focus on multifunctional shopping centres combining daily needs, shopping and entertainment
    Developing and incresing
    • Amount of non-retail services 
    • The food and beverage offering, (e.g. M.E.E.T. concept)
    • Share of leisure and entertainment, e.g.: 


    gyms in Citycon's shopping centres

    Multichannel approach

    Retail trend


    Combining online services and physical stores has become the norm
    Demand for tailored and personalised information
    Utilising customer data to understand customer needs, preferences and behaviour
    Consumers increasingly price and quality conscious, searching for information from many sources
    Citycon's response:
    Loyalty building and personalisation by shopping centre apps, gift cards and digital dialogue with customers and tenants
    Launch of active digital community and loyalty programme

    Active Cityconmunity in social media
    Focus on complying with increasing privacy requirements and transparent dialogue with customers
    >30 online pick-up points 

    Over 31,000

    subscribers to Iso Omena's community app
    since launch in September 2016


    mobile apps - in largest centres

    Sustainable development

    Retail trend


    Higher requirements for transparency and sustainable business conduct
    Increased energy efficiency and stricter environmental requirements for properties
    Engaging with local communities to create positive social value
    Sustainable innovations providing new opportunities and operational efficiencies


    of global consumers
    say they are willing to pay more
    for sustainable brands
    Source: Nielsen N.V. survey, 2015.
    Citycon's response:
    Sustainable business model that is reflected in e.g.
    • Majority of shopping centres BREEAM In-Use certified
    • Investments in sustainable energy: solar, geothermal and hydropower
    • Business Code of Conduct included in all new lease agreements
    • Continuous stakeholder dialogue


    Improved energy efficiency
    (kWh/sq.m.) since 2014 


    • Responding to rapidly changing consumer preferences and the digital landscape
    • Attracting visitors to shopping centres and increasing dwell time
    • Preparing for low carbon economy requirements
    • Securing urban planning and zoning to favor urban locations instead of non-sustainable establishments out of the city