Paris, 1 September, 2016 – Customers born between 1982 and 2000 (the Millennials) now outnumber baby boomers and represent a key demographic for retail sales and marketing programmes. It is estimated that the buying power of the Millennials will have an impact for six decades or more, hence their shopping habits will be a key subject at MAPIC 2016.
The 22nd edition of MAPIC, the International Market for Retail Real Estate, will take place in Cannes from 16-18 November.
“Millennials represent the future, so it makes sense that they will be a key focus at MAPIC this year, as MAPIC is renowned for anticipating upcoming trends and pioneering the next steps in retail real estate. This year we have created a new 1,000 sqm Trends Hub, which will showcase thematic exhibitor spaces all linked to emerging retail trends – responding mainly to the demands of the new consumers that are the Millennials,” says Nathalie Depetro, Director of MAPIC.
When it comes to shopping, the Millennials’ idea of material goods isn’t as important as experiences and relationships. In recent years, shopping centres have been rapidly re-positioning themselves to incorporate leisure activities (which have evolved far beyond playgrounds and food courts) that give a shopping centre status as a destination. iP2Entertainment (new to MAPIC this year), is a company built around a core business of Branded Family Edutainment Centres (BFECs). iP2Entertainment launched DreamPlay in cooperation with DreamWorks in Manila last year and they will be bringing to MAPIC two of their international collaborative partner brands. “The priority is to generate retail sales through the creation of a fun atmosphere which celebrates a brand or a range of products. This creates a showcase which benefits the brands even if visitors do not shop but instead spend on the internet,” explains Roger Houben, CEO of iP2Entertainment.
Situated in the new MAPIC Trends Hub zone, the retailtainment exhibition space (which has doubled in size from last year to 600 sqm), will host 30 companies featuring newcomers such as Paragon Creative (UK), Global Attractions (UK), Vortex (France), Top Golf (USA) and Husson International (France), and returning clients including AI Solve (UK), Skyzone (USA), Forrec (Canada) and KCC (Belgium). Each exhibiting retailtainment company will have a dedicated 30-minute pitching session in the retailtainment area during the 3-day event. A panel discussion on Leisure & Shopping (Wednesday 16 November 14h30-15h30), featuring Andy Reif, Executive Vice President, Consumer Products, Licensing and Global Experiences, National Geographic Partners; Joshua Wexler, Chief Executive of Fun, iP2Entertainment; Christophe Chauvard, General Manager France, Switzerland & Africa, QubicaAMF and Reinhart Viane, Business Development Director, KCC Entertainment Design.
From offline to online, the Millennials are thriving on experimenting with different physical dimensions of shopping. Research also shows that while baby boomers are interested in abundance, Millennials are a lot more concerned with brand ethos. The creation of a new Specialty Leasing Lounge at MAPIC this year (also situated in the Trends Hub) responds to the growing power of the pop-up business for brands. Over 30 brands – consumer, food and beverage, fashion, etailers, concept stores – will be exhibiting for a ½ day on a rotational basis.
“We have 52 opticians who are representatives for our brand but we see that a temporary store, including an experience for our clients, enables them to truly discover our brand. Our social media and press coverage would never be the same without it. Also it is a test for us to see if our own concept store would work in the future. Something we would never have known without our pop-up store,” explains Bob Geraets, Co-Founder of the cult eyewear brand Odette Lunettes – one of the brands exhibiting in the MAPIC Specialty Leasing Lounge. Others include iceRoll, Cabaïa, Go Get Glitter and Bon Parfumeur.
Millennials are more volatile customers due to 24-hour connectivity and infinite choice via online channels, meaning that it is more difficult for brands to gain their loyalty. The MAPIC Innovation Forum – a 400 sqm space in the Trends Hub – will host innovative solutions and technologies linked to client knowledge and engagement.
A number of exhibiting companies in the Innovation Forum such as TC Group, ESRI, Retailic, Coniq and Xovis focus on data collection and retail intelligence. Samsung Electronics will be exhibiting at MAPIC for the first time this year to showcase its screens that can interact and engage with customers. Another newcomer, Kodisoft, will also be exhibiting its digital screen tables which can be used in restaurants and bars to provide interactive entertainment and service with new-age diners. Exhibitors of the Innovation Forum will each be pitching their solutions during a 30-minute dedicated session. There will also be workshops from Innovation Forum sponsors Google, Salesforce and Clear Channel on customer engagement, driving foot traffic, data collection and mapping the customer journey.
All the aforementioned topics linked to the Millennials shopping habits will be brought together in a dedicated conference session on the Millennials on Thursday 17 November (17h30-18h30) with speakers including Giovanni Dolci, Vice President, Theatre Development, IMAX Corporation.
For more information on the 2016 MAPIC, visit our pressroom.
About Reed MIDEM:
Founded in 1963, Reed MIDEM is an organiser of professional, international markets that are essential business platforms for key players in the sectors concerned. These sectors are MIPTV, MIPDOC, MIPCOM, MIP CANCUN and MIPJUNIOR for the television and digital content industries, MIDEM for music professionals, MIPIM, MIPIM Asia, MIPIM UK, and MIPIM Japan for the real estate industry and MAPIC, Retail Real Estate Market brought by MAPIC in Shanghai and MAPIC Italy in Milan Milfor the retail real estate sector.
About Reed Exhibitions
Reed MIDEM is a division of Reed Exhibitions, the world’s leading event organiser, with over 500 events in 43 countries. In 2015 Reed brought together over seven million active professionals from around the world generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organised by 41 fully-staffed offices. Reed Exhibitions serves 43 industry sectors with trade and consumer events. It is part of the RELX Group plc, a world-leading provider of information solutions and analytics for professional and business customers across industries. www.reedexpo.com