The shopping center industry in Finland well adapted to new consumer behaviors

There is a positive development of the Nordic shopping center industry in general and in Finland in particular. The business is adapting to the conditions in the market and has much to gain in the foreseeable future.

The shopping industry in Finland is in good health. Food & beverage and commercial service are examples of areas that have experienced a strong development. Even though e-commerce is on the rise, the bulk of the trade will still take place in physical stores in the foreseeable future. For several reasons, shopping centers are still the most important destinations.

“It isn’t about online shopping replacing brick-and-mortar, it’s about how the two can co-exist and create a seamless experience for the consumer”. Kajsa Hernell, Managing Director, Nordic Council of Shopping Centers

Iso Omena, the winner of NCSC Finland Award Best Shopping Center 2018, is one of the largest trading venues in Metropolitan Area of Helsinki with approximately 100,000 m2 of leasable area, having completed a major expansion in 2017. Standing out is the shopping center´s unique concept M.E.E.T. - Meet, Eat, Enjoy, Together – in which around 40 restaurants and cafes offer an impressive range of quality food. The jury notes, among other things, that Iso Omena is characterized by "innovation and renewal" and "interesting and bold solutions". Iso Omena is in the competition of NCSC Nordic Award Best Shopping Center.

Other successful examples are Sello shopping center, which completed a virtual power plant in 2018 and will be the first property owner to participate in the Finnish electric power market arranged by Fingrid. This progressive project shows how a shopping center can be involved in the climate work and strive for the improvement of the environment and society as a whole. Ratina Shopping Center recently celebrated 1 year, exceeds in offering family oriented spaces and activities and is increasingly a part of urban culture and society. Puuvilla Shopping Center has experienced a constant increase in sales and visitors partly due to its unique event strategy and collaborations with organizations and fairs. MOW Supernova in Ratina Shopping Center offers flexible workplaces for companies and encourages the experimental and entrepreneurial culture. The list of examples continues. 

“It is impressive how the shopping center industry in Finland manages to adapt to new consumer behaviors and continues to offer shopping experiences which goes beyond the traditional retail landscape. The role of the traditional shopping center as we used to see it has ceased to exist – it now involves every aspect of our lives.” Kajsa Hernell, Managing Director, Nordic Council of Shopping Centers