Store and centre formats built around experiences (dining, entertainment, events, leisure) rather than pure transactions, used to defend footfall against online; a defining theme of new Gulf megamalls.
Related terms
- F&B
Food and beverage - an increasingly important driver of retail footfall and dwell time.
- Footfall
The number of visitors passing through or entering a retail location.
- GAFO
General merchandise, Apparel, Furniture, and Other — a US Census grouping of the discretionary shopping-goods categories that typically anchor a shopping mall'…
- Gross leasable area (GLA)
The total floor area available for retail leasing in a centre.
- High street
A traditional retail location along a main road, as opposed to a mall.
- Occupancy cost ratio (OCR)
A retail tenant's total occupancy cost (rent plus service charge) as a percentage of its sales; landlords watch it to judge whether a rent is affordable and su…
- Omnichannel
A retail model integrating physical stores, e-commerce, app, and click-and-collect into one seamless customer journey; increasingly central to mall leasing pit…
- Percentage rent
Additional rent a tenant pays as a percentage of sales above an agreed breakpoint, on top of base rent; it lets landlords share in a store's upside while guara…