Lisbon Street Shopping - JLL Portugal · Lisbon Street Shopping The surge of High Street Retail in Lisbon. 3 ... Zara and H&M have the greatest retailer coverage across Europe. American

2016

Lisbon Street Shopping The surge of High Street Retail in Lisbon

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If it’s true that Lisbon is in vogue, it’s also true that high street retail is a trend that’s here to stay.

This is due not only to the growing number of tourists who enjoy visiting and shopping in our city, but also to Portuguese consumers who, while recognising the quality and convenience of shopping centres, also value the experience of buying in high street shops and discovering new concepts, while exploring and enjoying their city, which has become extremely modern and cosmopolitan.

Amendments made to the urban lease law in 2012 also got this market moving, by enabling buildings in bad condition to be traded and subject to regeneration, producing shops on the ground floors of buildings, that satisfy the demand and needs of brands that wish to enter or expand in the national retail market.

One need only stroll through Lisbon to discover the difference compared with a few years back. New brands, new concepts, renovated shops, restaurants and many outdoor patios are the most visible signs of a city undergoing transformation. And not only international brands choose the streets of Lisbon to open shops, but there are also several Portuguese entrepreneurs who emerge all over the city, striving to develop concepts that are innovative, well-positioned, with an engaging design, outstanding marketing and that often sell “national creations”, showcasing and exporting the best this country has to offer.

Another very interesting outcome is that each segment has found its place and target, creating retail clusters that are increasingly consolidated and well defined on the city’s map.

Luxury goods, for example, found their preferred address on Avenida da Liberdade, where the number of renowned international chains continues to rise, partly due to growing demand from foreigners of Brazilian, Chinese, Russian and Angolan origin.

Almost acting as an extension of Avenida da Liberdade, Rua Castilho emerges with predominantly premium brands, above all in women’s fashion. This area’s success is due to the union of its main retailers

Forewordwho came together to create the Castilho Fashion Street concept, which promotes trade through various initiatives.

Chiado is the trendiest, most fashionable and cosmopolitan part of the capital, where tradition and modernity, national and international brands, premium and mass-market shops, tourists and Lisboners, coexist. Demand greatly surpasses supply, and those who want to have a space here must be willing to pay the highest rent on the market.

Next to Chiado we find Baixa, once the epicentre of Lisbon’s trade, and which is gradually coming back to life, not only due to the countless number of tourists who stroll along Rua Augusta, this area’s main axis, but also to the outpour of a growing number of Portuguese consumers; if nothing else, because the restaurants and patios in the newly renovated Terreiro do Paço are now an excellent attraction.

These days, in terms of available spaces and retail concepts, Príncipe Real represents everything that is innovative and different in the city. The Embaixada and Entre Tanto buildings, former mansions where originality and entrepreneurship have merged to produce a surprising space, further establish Príncipe Real as a shopping destination with a unique charm.

We cannot end this tour without mentioning the most surprising area to emerge in Lisbon. This is Cais do Sodré/São Paulo, where someone, one day, had a wild idea: using little resources, regenerate a bar that, without denying its past (a former brothel), can be frequented by people of all ages, at any time of night – the renowned Pensão Amor. This area was further invigorated with the recently opened Mercado da Ribeira, and the inauguration of the new EDP headquarters will breathe even more life into the location.

There is much more to be said about high street retail in Lisbon, and the optimism and drive that characterise it. This is what we talk about in the following pages, which I invite you to read with undivided attention.

Patrícia AraújoHead of Retail

Av. Liberdade R. Castilho Baixa TrendsPríncipe RealChiadoTourismLisbon DestinationEuropeForeword Lisbon High Street Retail

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International retailer ‘road mapping’ is becoming increasingly focused on cities, as cross border barriers fall and as retailers chase diversification and growth. At the same time, retailers are under growing pressure to improve profitability and margins and structural changes emerge due to the rise of multi-channel retailing. All of these factors have led to the development of expansion strategies that are increasingly cautious, selective and rational.

The relative attractiveness of cities to international retailers is based on a combination of numerous complex factors: market size, maturity of the market, resilience and growth prospects, adjacencies and market familiarity, competition, real estate transparency and risk are meticulously analysed by international retailers.

We present below the main conclusions of the study “Destination Europe 2015” produced by the JLL – EMEA team, which analyses the presence of the 250 international retailers in the key European markets (57 cities).

European Shopping Destinations

Top 3 Prime Rents(area of 200 sq m)

1,198 €/ sq m/ month

1,500 €/ sq m/ month

Top 10 European Cities(presence of 250 analysed retailers)

London

Paris

Moscow

Milan

Madrid

Rome

Istanbul

Munich

Berlin

Barcelona

1st

2nd

3rd

4th

5th

6th

7th

8th

9th

10th

LondonOxford Street

ParisAvenue des Champs Élysées Zurich

Banhnhofstrasse

720 €/ sq m/ month

234

218

197

174

150

149

148

145

139

135

PremiumMass Market Luxury

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Retailer appetite for the best space across Europe remains strong and is extremely resistant to economic cycles. Many top-tier retailers will accept flagship space in iconic locations, and nothing less.

London stills the most attractive city for international retailers, standing out not only due to the market’s size and maturity, but to its high degree of market transparency.

Moscow and Istanbul have become Europe’s success stories, as no other city attracted as many new entrants as these two markets have over the past two years.

Lisbon ranks as the 23rd most attractive location for international retailers in Europe, placing ahead of other European capitals like Dublin, Stockholm and Budapest.

Paris commands the highest rents for international retailers, followed by London and Zurich. Market maturity clearly influences prime retail levels. But Bond Street in London tops the luxury rental table, followed by Paris and Moscow.

23rdin the ranking of most attractive location for international retailers in Europe.

Lisbon

Foreword Av. Liberdade R. Castilho Baixa TrendsPríncipe RealChiadoTourismLisbon DestinationEurope Lisbon High Street Retail

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Zara and H&M have the greatest retailer coverage across Europe.

American retailers Michael Kors and 7 For All Mankind are the most expansive retailers as well as the European Superdry, Cos, Ecco and Hugo Boss.

USA is the largest exporter, surpassing Italy which was driven mainly by luxury brands exports.

The Body Shop and Lush cosmetics retailers also rank in the top 10. Both use a franchise model, which provides retailers with a quick and low risk means of increasing coverage. In addition, the need for small retail units, combined with relatively affordable products, allows both retailers to export their brand successfully with relative ease across many markets.

Top 10 Retailers(% coverage of Europe’s key markets)

Key:Premium Mass Market

Top Exporters(of retail fascia in Europe’s key markets)

Inditex group currently operates 6,390 stores across the world.

H&M

Mango

Zara100%

100%

95%

The Body Shop93%

Benetton

Hugo Boss

Lush91%

91%

90%

Diesel87%

Timberland

Tommy Hilfiger87%

85%

ItalyBenettonDieselMax MaraGeoxCalzedonia

U. K.The Body ShopLushKaren MillenSuperdryBurberry

FranceLouis VuittonHermèsPetit BateauEscadaTally Weijl

GermanyHugo BossAdidasNew YorkerPumaBijou Brigitte

U.S.Tommy HilfigerTimberlandFoot LockerClaires’sStarbucks

SpainZaraMangoMassimo DuttiDesigualPull & Bear

2nd

6th

3rd

4th

5th

1st

7

Top 10 Luxury Retailers(% coverage of Europe’s key markets)

Although global luxury markets are growing steadily, luxury retailers are having to adapt to structural change and the new virtual world in particular. Specifically, this means dealing with new levels of market complexity, accounting for new kinds of buying behaviour, pushing into new markets, evaluating different business models,and doing more with digital technology.

Luxury brands Max Mara and Louis Vuitton have the highest presence amongst luxury retailers in the key European cities.

Expansive luxury retailers include Rolex, BCBG Max Azria, as well as La Perla, Longchamp and Prada, which have been in expansive mode in the last two years.

London leads the rankings in terms of luxury brand presence, marginally ahead of Paris. The growth market of Moscow lies in third position, followed by Milan, Rome and Istanbul.

The leading luxury houses are generally eyeing expansion opportunities, with the likes of LVMH, Kering and in particular Richemont actively seeking space in the right locations.

Top 5 Luxury Retail Destinations

22ndeuropean city in terms of luxury brand presence.

Lisbon

Foreword Av. Liberdade R. Castilho Baixa TrendsPríncipe RealChiadoTourismLisbon DestinationEurope Lisbon High Street Retail

3rd Moscow

4th Milan

1st London

5th Rome

2nd Paris

Louis Vuitton

Emporio Armani

Max Mara 75%

75%

61%

Gucci58%

Montblanc

Burberry

Hermès58%

56%

51%

Cartier51%

Bulgari

Ermenegildo Zegna

Longchamp45%

43%

43%

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In a world that is global and highly competitive, every city and every region must necessarily stand out, for its difference, for what makes it special. It is that difference that makes it more attractive to those who are looking for a destination for their holiday, for shopping, studying, work, investment or any other purpose.

A city’s retail can, and should, be one of the distinguishing and differentiating elements between cities. Trade has always played an extremely important role throughout Lisbon’s history, and it continues to occupy a prominent position in the city’s economic, social and cultural life.

Positioning retail as both a city’s differentiating feature and an economic activity that generates employment, demands the coordination of different and complementary measures.

The Lisbon Municipality (CML) has supported a wide variety of initiatives to drive local retail, some developed by the Council itself, others organised by the numerous Trade Associations in the city, and others still by Public or Private Institutions. The support provided differs greatly depending on the event or initiative, and can range from institutional support from the Municipality, to providing real-time licenses or permits to occupy public space or change traffic, and using the Municipality’s means to disseminate and promote activities that are important for the city.

Considering the particular importance the retail sector has in our economy, it is vital that we support projects that can attract new publics and new consumers. Thus, promoting Lisbon as an international shopping destination is a strategic axis in the Municipality’s activity.

Lisbon DestinationIn this sense, I would like to highlight some projects we are developing and which we believe will be crucial to Lisbon’s local trade in the future.“Lisbon Shopping Destination” – the main goal is to position Lisbon as an international shopping destination (serves as a link between Lisbon’s tourism potential and the local trade and economy) and organise the city’s retail districts by driving retail areas and neighbourhoods with distinguishing profiles and identities, complementing these areas with the local cultural, gastronomic and economic attractions. We provide tourists who come to Lisbon with information on commercial routes and premium shops, and promote the various consolidated areas/districts in the city, on several levels, as well as disseminating economic/commercial trends.

Due to the challenges traditional retailers have faced, we must also note the CML’s support in promoting entrepreneurship among the retail sector through the initiative Startup Lisboa Commerce – a business incubator for the retail, tourism and services sectors that supports the development of new ideas and trends – with approximately 30 startups established (and more than 80 jobs created), this is a growing project with a network of partnerships and support structures to monitor and develop new ventures, which aims to minimise risk and maximise the success potential.

Another project that gives direct support to small retailers is Lisboa Empreende – a partnership with CASES, the entity that manages the Programa Nacional de Microcrédito (National Microcredit Program), whose goal is to drive the City’s economy by encouraging people to create their own business. This project provides access to experts who accompany the entrepreneurs throughout the entire process of creating a business (idea, business plan, financing and implementation), as well as a network of partners who facilitate the whole process. The businesses may also receive additional support or tax exemptions in their first year of activity.

“The promotion of Lisbon as an international shopping destination is a strategic axis in the Municipality’s activity.”

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EuropeForeword Av. Liberdade R. Castilho Baixa TrendsPríncipe RealChiadoTourismLisbon Destination Lisbon High Street Retail

We are also dedicated to the urban regeneration of commercial spaces and structures that are vacant/abandoned, thereby enabling their use for economic activities (ex: Mercado da Ribeira, Mercado Campo Ourique, Mercado Forno Tijolo, Hospital do Desterro).

The city of Lisbon is already positioning itself as a retail option of great quality and diversity on many levels (with awareness of this quality and diversity growing internationally), namely in the luxury niche, gourmet food products, wines from the Lisbon region, designer products, and manufactured products using different materials, such as cork yarn for clothing, soaps, etc.

Thus Lisbon’s retail is diversifying, incorporating innovation and design, entering new fields of business, specialising.

We must encourage developers and appeal to their creativity and entrepreneurship and, in the current economic context, take the global market into account. We have good examples of good ideas that have generated businesses with great international potential.

The dynamics we have seen in Lisbon give us cause for optimism regarding the future of local trade, because they indicate how our entrepreneurs are capable of rising to the current challenges.

Vereadora Graça FonsecaCâmara Municipal de Lisboa

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Portugal is without doubt in vogue, and Lisbon is in the limelight of global tourism. History, tradition, modernity, beauty, beaches, climate, cuisine, charm, make this a unique destination in Europe, and at highly affordable prices. Portugal won 29 awards in the World Travel Awards 2015.

Condé Nast Traveller named Portugal the best country in the world to visit, and Lisbon was chosen as Europe’s Leading City Break Destination by the Word Travel Awards and by the Amadeus & WTM Travel Experience Awards. The city also rose to 9th place in the world ranking of cities chosen to host international meetings and conferences, produced by the ICCA (International Congress & Convention Association). Porto was also distinguished by Lonely Planet as the best of the Top 10 European travel destinations.

Tourism

American website Weatherwise.org considered Lisbon the city with the 6th best climate, making it one of the most comfortable major cities in the world.

21ºCaverage temperature

Weather

Overnight Origins(foreigners)

11.9% Spain 12.0%

France

8.8% Germany

2.5%Russia

3.5% Angola

1.8% China

11.5%Brazil

5.8% U.S.

The market share from Angola, Russia and China is still quite low; however forecasts indicate that the exponential growth of these countries’ middle class will undoubtedly have an impact on Portuguese tourism.

8.4 million

Room Nights (Lisbon city – 2014)

80% are foreigners, representing an increase of 16%.

2014 vs. 2013 16%

Source: INE

72.8%

Occupancy(Greater Lisbon)

In 2016 Lisbon would the 10th european city with the highest occupancy rate.

2014 vs. 2013 8.8%

18 million 501 thousand

Passengers

Cruise ship passengers who stop over in Lisbon place the capital in the top 10 destinations to visit.

122 direct destinations from Lisbon Airport, 16 more than 2013. Lisbon-Bogotá-Panamá is one of new routes.

2014 vs. 2013 13.3%

Source: ANA – about Lisbon Airport; Porto de Lisboa Source: “ Room to Grow” study, published by PwC in 2015

Note: These are not all the nationalities of tourists visiting Lisbon.

€ 78.3ADR(Average Daily Rate – Greater Lisbon)

2014 vs. 2013 4.9%

17th place: Decreased one position on Top 20 European cities with the highest ADR, remaining one of the cities with the most competitive prices.

2014 vs. 2013 10.4%

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EuropeForeword Lisbon Destination Av. Liberdade R. Castilho Baixa TrendsPríncipe RealChiadoTourism

Lisbon Tourist´s Main Activities(Greater Lisbon – 2014)

Main Zones Visited(Greater Lisbon – 2014)

Source: Survey to Tourists’ Activities and Information – 2014

Museums & Monuments

Go out for dinner

Shopping

Exhibitions

Night life

From the historic centres of Lisbon and Porto to the Algarve’s beaches, Portugal offers great growth potential for tourism, which is also reflected in the country’s retail market, receiving much attention from many international brands. Visitors from emerging countries such as China, Russia, Brazil and Angola, whose number of tourists has increased significantly in recent years, consider Lisbon a shopping destination, not only due to a lack of variety sometimes felt in their own countries, but also because the prices charged in Portugal are generally lower.

Portugal is increasingly establishing itself as a tourism destination, displaying great growth potential in this sector. According to World Tourism Organization (WTO), in 2015 the Portugal tourism is growing three time more than in the rest of the world in terms of foreign arrivals, assuming itself as one of the main economic drivers.

Did you know...?In 2015 the Portugal tourism is growing three time more than the rest of the world. (WTO)

Lisbon High Street Retail

Belém

Parque das Nações

Baixa

Terreiro do Paço

80.4% 71.1%

76.5% 60.6%

71.7% 50.7%

71.1%

30.9%70.6%

34.2%Av. da Liberdade

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Although shopping centres are still the main shopping choice among Portuguese consumers, interest in high street retail is here to stay. With the rise in the number of tourists and a change in Portuguese consumption habits, the “street” is increasingly asserting itself as a strategic location and expansion channel for national and international retailers.

Indeed, consumption patterns are changing. Proximity and the “experience” are increasingly important to consumers who need to save time and money, and at the same time are progressively more informed and savvy due to the increase in sales channels, with e-commerce at the forefront. Thus the “experience” provided and the ability to surprise play a key role in the shopping process, and high street retail gains the advantage as the vital factor that drives a city’s life.

Lisbon’s main retail destinations are concentrated at the heart of the historic centre and vary in the products on offer and brands targeting different consumer profiles: Avenida da Liberdade offers the main luxury brands; Rua Castilho has become an extension of the great “Avenida”, competing with an equally prestigious, but less luxurious offer; Chiado is a bit of everything – cool and traditional, it caters to both tourists and Lisboners, targeting the masses, but also the more affluent; as for the Baixa, the watchword here is tourism, major tourism, and with it, the traditional/souvenirs/mass market; and finally, Príncipe Real, with an offer that is totally different, unique and alternative.

High Street Retail in Lisbon

In its December 2013 edition, the prestigious British magazine Monocle came to Lisbon to do its Christmas shopping, sharing its journey through the city’s retail areas with the whole world.

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The law is finally helping…

Despite being in great demand, with large international retailers vying for a space in the Portuguese capital, rental laws curbed this enthusiasm, and a lack of available spaces was until now the greatest obstacle to expanding high street retail.

However, among the numerous reforms demanded by Troika, the Urban Lease Law was amended at the end of 2012 and the results are clear: In the worst-case scenario for 8 years (5+3), rents are freed from constraints and assume market values.

This change, along with the easier eviction of tenants who do not honour their commitments, is starting to show results. Several businesses that only survived due to having very low rents, are now giving way to more innovative retailers. In 2013, Avenida da Liberdade reached a record high in its number of openings, inaugurating 11 shops.

Top Nationalities(sales to foreigners in Lisbon by Premier Tax Free - Jan – Sep 2015)China

Angola

Mozambique

Brazil

Tourism has played a fundamental role in driving high street retail in Lisbon. Chinese citizens represent almost 30% of tax free purchases.

EuropeForeword Av. Liberdade R. Castilho Baixa TrendsPríncipe RealChiadoTourism Lisbon High Street RetailLisbon Destination

30.4%

27.2%

17.7%

3%

14

15

The “Avenida” is synonymous with luxury, prestige, elegance and exclusivity. Built in the same style as the Champs Élysées, Avenida da Liberdade forms the central axis of Lisbon’s main business district, and houses the city’s main 5-star hotels.

Regarding retail, this is the preferred address in Portugal for leading luxury brands, which are increasingly establishing themselves in the country directly. Before the introduction of the Euro currency in 2002, luxury items were essentially sold in multi-brand store such as Loja das Meias, Stivali or Rosa & Teixeira. Currently, 63% of luxury retail brands have their own shop on the “Avenida”, such as Louis Vuitton, Max Mara, Cartier, Prada and Gucci.

There are approximately 32,100 sq m of retail space along the “Avenida”. Fashion & Accessories is the dominating sector, but Jewellery & Watches also carries significant weight. With a total of 15 shops and occupying about 4,000 sq m, traditional Portuguese jewellers such as Torres Joalheiros, Boutique dos Relógios and David Rosas stand beside international chains like Officine Panerai and Montblanc.

Av. da Liberdade

“Avenida da Liberdade is currently the ex-libris of Lisbon’s history and trade. Today, those who want to be in touch with the city’s ever growing tourism and have a successful proposition for this target, have to be located on this avenue. We opened our first shop on Avenida da Liberdade in 1988, and it has always been a success, driving our retail activity in this part of the city.”

Ronald BrodheimGrupo Brodheim – Timberland, Tod’s, Guess, Furla, Burberry, Betrend

International & national chains

84%

New concepts/unique stores

7%

Traditionalretail

9%

32,100 sq m

* Only includes street shops, excluding services, vacant areas and shopping centres.

Occupied Area*

Sectors

Restaurants

Jewellers

Fashion

EuropeForeword R. Castilho Baixa TrendsPríncipe RealChiadoTourism Av. LiberdadeLisbon Destination Lisbon High Street Retail

60%

21%

13%

16

Restaurants on the “Avenida” and in the surrounding area target executives that work there and tourists staying in the numerous hotels. Restaurants like Brasserie Flo, Gambrinus, Sushi Avenida, Guilty or Avenue, as well as others such as Honorato or Pizzaria Luzzo, offer atmospheres that range from extremely elegant to more modern and casual.

Tourism is an important catalyst for driving high street retail in general and the luxury goods market in particular, sought out essentially by foreigners of Brazilian, Chinese, Russian and Angolan origin.

Demand from great international brands has increased steadily in recent years, and the waiting list continues to grow. Amendments to the NRAU (New Urban Lease Law) that were introduced at the end of 2012, have opened a window of opportunity on the supply side, but are clearly insufficient to satisfy the countless requests that arise.

10,400sq m

Vacancy

Segment (fashion)

Premium31%

57%Luxury

12% Mass Market

Origin

23%

Multi-brands14%

National 64% International

Prime Rents

90 €/ sq m/ month

Consumers

Retailers

Stores

Average Ticket(foreigners)

Target

High

Did you know...?Avenida da Liberdade is approximately 1,000 metres long and is served by the metro at three points.

The luxury goods, which are selling in this axis, are mostly purchased by foreigners.

Luxury

• Hugo Boss• Fashion Clinic• Longchamp• Maria João Bahia

2005

• Burberry• Vilebrequin• Tru Trussardi• Becode

2006

• Escada

1990

• Timberland• Emporio Armani

1997

• Adolfo Dominguez

1999

• Purificación Garcia• Carolina Herrera• Philosophie

2000

• David Rosas• Maison

2002

• Hard Rock Café

2003

• Louis Vuitton• Gant

2004

• Tod’s• Loewe

2007Main openings

(area: 100 sq m)

Premier Tax Free(Jan–Sep 2015)

1,200

2015 vs. 2014 16.8%

17

Av. Liberdade Retail Map

EuropeForeword R. Castilho Baixa TrendsPríncipe RealChiadoTourism Av. LiberdadeLisbon Destination Lisbon High Street Retail

• Prada• André Ópticas• Fly London• Dara Jewels• Foreva

2010

• Guess• Boutique dos Relogios Plus• Tumi• Gonçalo Pinheiro

2015 2016

• Pronovias• Baby Liberdade• Fashion Clinic (man)• Stivali• Porche Design• Zadig & Voltaire• Gilles Joalheiros

2011

• Gucci• Miu Miu• Boutique dos Relógios Plus• Boutique Officine Panerai

2012

• Elisabetta Franchi• Aristocrazy Joyas• Torres Joalheiros• Max Mara

• Cartier• Michael Kors• A. Lange & Söhne• Rimowa• Marina Rinaldi• Penhalta Noivas

2013

• Luis Onofre• Juliana Herc• Ermenegildo Zegna• Guess• Hugo Boss• Boutique dos Relogios Plus

2014

• Hackett• COS• Fendi Casa Collection

Marquês de Pombal

Avenida da Liberdade

Prç. da Alegria

Restauradores

R. do SalitreR.

Alexan

dre He

rculan

oR.

Barat

a Salg

ueiro

R. Ro

sa Ara

újo

R. Alex

andre

Hercula

no

R. da

s Pret

as

1

34

10

78

9

1413

1211

1516

1718

2120 22

2324 25

2627

28

424140

29

3231

30

4443

4645

4849

505152

53

585756

54 555960

616263

64

3334

3637

393835

47

2

19

56

Luis OnofreGonçalo PinheiroTru TrussardiMarina RinaldiJuliana HercTumiMax MaraTorres Joalheiros Fendi Casa CollectionCartier BvlgariVersacePorsche DesignFly LondonVilebrequinEmporio ArmaniPradaRosa & TeixeiraBurberryFurlaTimberlandTod’sGuessBoutique dos Relógios PlusFashion ClinicLongchampLouis VuittonEscadaLoeweErmenegildo ZegnaHugo BossAristocrazy JoyasHackettHugo Boss

2

14

8

20

30

5

17

27

11

23

33

3

15

25

9

21

31

6

18

28

12

24

1

13

7

19

29

4

16

26

10

22

32

Boutique dos Relógios PlusDara JewelsGilles Fine JewelleryMontblancPronoviasTivoli Fórum: Adolfo Dominguez Gucci Fashion Clinic Maison B Code Machado JoalheirosRimowaBaby LiberdadeCarolina HerreraPurificación GarciaA. Lange & SöhneAndré ÓpticasMangoMassimo DuttiMichael KorsMaria João BahiaMiu MiuTony MirandaZadig & VoltaireLacosteStivaliGantPenhaltaElisabetta FranchiDavid RosasOfficine PaneraiCOSRosa Clará

42

39

43

40

41

36

37

35

38

44

48

54

51

45

57

49

59

60

61

62

55

52

46

58

47

53

50

6364

56

VisionlabMango

Opening soon34

• Mango• Bvlgari• Versace

18

19

Rua CastilhoRua Castilho, modern, cosmopolitan and “feminine”, extends the elegance of its neighbouring Avenida da Liberdade in a segment that is predominantly premium. Also included in the Prime CBD for the office market and housing the Ritz Four Seasons and Tiara Park Atlantic 5-star hotels, this street is popular among executives and foreigners seeking prestigious shops such as Loja das Meias, La Perla, Wicket Jones or Stivali among many others. However it is losing some prestigious and old tenants, having currently some vacant spaces.

This is a long street, but retailers are essentially concentrated between Rua Joaquim António Aguiar and Rua Rosa Araújo, occupying a retail area of approximately 4,700 sq m. Shops here belong predominantly to national and international chains (57%) and the fashion sector (58%).


57%


21%

Traditionalretail

22%

Restaurants

Fashion

4,700 sq m

Health & beauty

“Rua Castilho is an extremely important street in Lisbon’s retail sector, joining several renowned national and international brands in the fashion and lifestyle segments, asserting itself in Lisbon as a fashion street. Aside from offering a very strong retail dynamic, it also offers parking and other important services that have attracted many national and foreign clients, which is manifested in the rise in sales and acknowledgement of its retail sector.”

Manuela Saldanha Loja das Meias

Occupied Area*

Sectors


EuropeForeword Baixa TrendsPríncipe RealChiadoTourism Av. Liberdade R. CastilhoLisbon Destination Lisbon High Street Retail

58%

12%

13%

20

The boost witnessed in this area in recent years is also due to the Castilho Fashion Street concept, a coalition among the main retailers operating on this axis. This organisation, which receives support from the Lisbon Council and the Associação do Comércio e Serviços (Trade & Services Association), aims to promote trade by carrying out various initiatives: Castilho Golden Xmas, Pink Day or joining Vogue Fashion’s Night Out. These are some successful examples that capture the attention of a public that has become increasingly informed and demanding.

The restaurant offer on this street is not extensive, especially considering the number of people who work in the area. The classic restaurant 33 and the simple and laid atmosphere hamburger house Bun´s garanteeing a full house at lunchtime.

750sq m

Premium63%

19%Luxury

19% Mass Market

48%

Multi-brands16%


35 €/ sq m/ month

Premium

Medium

Did you know...?Loja das Meias emerged in Rua Augusta in 1905, selling only stockings and corsets. The business grew, and over the years it opened several sections. In the 1960s it widened the range to include ready-to-wear, importing above all from Italy, France and England. At the end of the 1960s, Loja das Meias introduced the 1st jeans in Portugal – by the brand Levi’s – which were a huge success. In 1971, it opened its second shop in Edifício Castil, located on Rua Castilho.

Vacancy

Segment (fashion)

Origin

Prime Rents

Consumers

Retailers

Main openings

Target

Stores


• Loja das Meias

1971

• Gerard Darel

2000

• BCBG Maxazria

2001

• Coccinelle

2003

• Weill

2007

• Max & Co.• Karen Millen• Hoss Intropia

2009

(area: 100 sq m)

Premier Tax Free(Jan–Sep2015)

651

2015 vs. 2014 4.5%

21

Rua Castilho Retail Map

EuropeForeword Baixa TrendsPríncipe RealChiadoTourism Av. Liberdade R. CastilhoLisbon Destination Lisbon High Street Retail

VC by NicaWeillÓpticas OCRSheLa PerlaKaren MillenStivaliGerard DarelOfficinaTHEStefanelVeste CoutureHoss IntropiaMax & CoAnton BeillEdifício Castil Loja das Meias Mim LD LXFrank ProvostMaxazria

R. Alexandre Herculano

R. Mouzinho da Silveira

R. Rosa Araújo

Marquêsde Pombal

Largo do Rato

R. Castilho

Av. da Liberdade

R. Br

aanc

amp

1

56

78

910

1112

1314

15

16

17 18

42

3

2

14

8

18

5

11

3

15

9

6

12

1

13

7

17

4

16

10

• Stefanel

2011

• Wickett Jones• Marella

2012

• Lanidor & Co• Frank Provost• Anton Beill

2013

• LD LX• Mala Nostra

2014

• THE

2010

• Officina

2015

22

23

Chiado combines Portuguese history and tradition with new tendencies and concepts, making it extremely trendy, fashionable and vibrant. These steep streets that are so typical of Lisbon offer iconic bookstores and cafés that, along with the great international brands, are an absolute must among the thousands of tourists and Lisboners passing through.

In total, 45,100 sq m are occupied by retail spaces. In the fashion sector, which represents 45% of Chiado’s retail, large international chains like Zara, Bershka and H&M, and premium, luxury concepts such as Hermès, Hugo Boss and Marc Jacobs, share this space with traditional shops that are, however, gradually diminishing.

National projects represent 49% of this district’s trade: new concepts such as A Vida Portuguesa, Loja do Burel or the 5 restaurants by Chef José Avillez stand beside shops such as Livraria Bertrand and the famous café A Brasileira, which have remained in operation for more than a century. These new concepts and iconic shops in Chiado provide a unique experience that sets this area apart, and which consumers increasingly search for.

Chiado

“The Multifood Group, which owns the brand Vitaminas, believes in urban renewal, in the long term improvement and superior quality of our city centres. We have a progressive outlook of urban regeneration and development, and our aim is to increase the long term value of goods and property in a comprehensive business environment that serves as a catalyst to bring movement and soul to our cities.”

Rui Sanches Grupo Multifood – Vitaminas, Honorato, Cais da Pedra, Delidelux, Wok to Walk, Milano, Aprazível, Capri


58%


19%

Traditionalretail

23%45,100 sq m

Occupied Area*

Sectors


Home & furniture

Fashion

Restaurants

EuropeForeword Baixa TrendsPríncipe RealTourism Av. Liberdade R. Castilho ChiadoLisbon Destination Lisbon High Street Retail

11%

23%

45%

24

2,360sq m

Main Axis: nuleSecundary Streets: medium/low

Premium19%

2%Luxury

79% Mass Market

49%

Multi-brands6%


Mass MarketTrendy

120 €/ sq m/ month

The main streets, such as Rua Garrett, Largo do Chiado and Rua do Carmo, are the preferred locations among retailers. Spaces on these axes are in such high demand that they are often taken up before even being put on the market, causing trade to expand to adjacent streets like Rua Nova do Almada, Rua da Misericórdia, Rua Ivens and Largo Rafael Bordalo Pinheiro, which currently house a wide variety of restaurants.

There is indeed a growing number of restaurants in Chiado, not only due to the area’s central location but also to its proximity to favourite nightlife spots in Bairro Alto and Cais do Sodré. The offer ranges from renowned restaurants such as Tavares and Belcanto to more hipster options like Kaffeehaus and Café Royale.

Did you know...?In 2010, Bertrand and its bookstore in Chiado featured in the Guinness World Records as “the oldest operating booksellers” and “the oldest operating bookshop”, respectively.

Vacancy

Segment (fashion)

Origin

Prime Rents

Consumers

Retailers

Target

Stores

Average Ticket(foreign)

Main openings

• Livraria Ferin• Livraria Bertrand• Barbearia Campos• Paris em Lisboa

1800–1900

• Pastelaria A Brasileira

1905

• Luvaria Ulisses

1925

• Gardenia

1990

• Hermès• Benetton

2001

• Bershka

2000

• Armazéns do Chiado

1999

• Zara

1995

• H&M• Izu Chiado

2003

• Diesel

2004

(area: 100 sq m)


308

2015 vs. 2014 13.9%

25

Chiado Retail Map

EuropeForeword Baixa TrendsPríncipe RealTourism Av. Liberdade R. Castilho ChiadoLisbon Destination Lisbon High Street Retail

• Hugo Boss -Hugo Store

• Gardenia

2005

• Hugo Boss -Boss Store

2007

• Muji• Acessorize• Swarovski• Santini• Vitaminas• Eureka

Shoes

2010

• Vintage Bazar• My Lisbon Fashion• Massimo Dutti• Nike• Blanco• Sax Store• Cubanas• Cantinho do Avillez

2011

• Godiva• Salsa• Up! Town• Zara Home• Nespresso• Tous• WESC

• Bairro Arte• Perfumes &

Companhia• Skinlife• A Padaria Portuguesa• Belcanto

2012

• Geox• Havaianas• Prof• Stradivarius• Zilian• Levi’s• Skunkfunk• So Chic

• Aldeia da Bolota

• Arte Assinada

• Arcádia• Chocolataria

Equador• L’Oréal

2013

• Chiado Factory• Pop Traditions• GMS Store• Empatias• Mini Bar• Sacolinha• Mikels• Benefit

2014

• New Balance• Ale-Hop• Guess• Tiger

2015

• Oysho

2016

Leitão & IrmãoVista AlegreSalsaHermèsGuessCasa HavanezaZilianDu Pareil au MêmeHugo BossStradivariusGardeniaTousHavaianasProfBershkaSwarovskiGeoxU.C. of BenettonParis em LisboaLivraria BertrandVitaminasAndré ÓpticasLanidorIntimissimiBlancoImaginariumNikeMassimo DuttiZaraÓptica do SacramentoHugo BossOyshoNespressoSantiniPerfumes & Companhia

2

14

8

20

30

5

17

27

11

23

33

3

15

25

9

21

31

6

18

28

12

24

34

1

13

7

19

29

4

16

26

10

22

Foot LockerZara HomeW52MujiNew BalanceLuvaria UlissesJoalharia do CarmoArmazéns do Chiado:

FnacKiko CosmeticSephoraStarbucks

SpringfieldWomen’SecretH&MGMS Store AppleAle-HopLivraria Aillud LellosOculista do CarmoAccessorizeMultiOpticasPepe JeansBenefitSkunkfunkOctoberTeresa AlecrimLivraria FerinTendência StoreIntukasaEureka ShoesPull & BearTigerRulysEl GansoSacoor Brothers

36

42

39

37

43

40

35

41

38

44

48

54

64

51

61

45

57

49

59

55

52

62

46

58

47

53

63

50

60

56

Sandro FerroneWESCInter designHarmour Concept StoreRoofKiehl´sEmpatiasSacolinhaSkinlife66

65

Bairro ArteMarc JacobsGodivaLoja do BurelQuiosque das BonecasCubanasA Vida PortuguesaOrgani CosméticaPop Tradition

82

79

80

81

78

77

GardeniaG-Star RawIzu ChiadoSo ChicChiado nº8Levi’sAdolfo DominguezBonpointAldeia da Bolota

85

83

86

84

91 100

101

102

88 97

89 98

90 99

87

Padaria PortuguesaDieselJorge WelshChiado FactoryUp! Town LisboaTM Colection OrganiiJosé Antonio TenenteMikels

96

94 103

92

95

93

Lrg. Luís de Camões

Lrg. da Trindade

Lrg. de S. Carlos

R. Garrett

R. do

Car

mo

R. N

ova d

o Alm

ada

Lrg. do Chiado

R. N

ova d

a Trin

dade

R. da Trindade

Travessa do Carmo

R. S

erpa

Pint

o

R. do

Alec

rim

R. A

nt. M

ª Card

oso R.

Paiv

a And

rade

R. A

nchie

tta

R . d

a Mes

ericó

rdia

Lrg. do Loreto

R. Iv

ens

1 2

34

72

657

18 19

79

8 9

20 21 22 23 24 2510 11 12 13 14 15 16 17

26 27 28

30

29

3132

33 43

55

54

565758

59

6061

7170

69

53

464544

3435

36 47

3738

48

39

4049505152

4142

6362

64

65

66

6768

90858687

91

929389

88

84

83

828078

79

81747576

77

73

9594

96

98

97

99

100 101

103

102

67

68

70

73

72

69

71

76

74

75

Gardenia for Man

Opening soon

32

26

27

BaixaTraditional, touristic, diverse, majestic, iconic! Built in the Pombaline era, the Baixa (downtown) is the city’s oldest retail area where, in the past, the various trades were organised into streets with the same name: Correeiros (saddlers), Douradores (gilders), Fanqueiros (mercers), Sapateiros (cobblers) are just a few examples. Known for its symmetrical streets, Rua Augusta forms the Baixa’s main axis. Here, souvenir shops and traditional merchants blend with fashion mass market chains, some of which belong to the main international brands such as Zara, H&M and Pull & Bear, yet traditional shops such as Portuguese shoe shops and boutiques have a relevant weight.

Lisboners and many, many foreigners wind their way through the numerous street artists who are considered a genuine tourist attraction. Yes, tourist: Rua Augusta is one of the streets with the greatest footfall, and it is a must for the growing number of tourists who visit the top choice for city breaks. The Spanish edition of Condé Nast Traveller magazine named Rua Augusta one of the most beautiful streets in the world from among the “31 streets to stroll down before you die”, highlighting that this famous Lisbon street offers “the charm of the old and the new, combining both in a unique symbiosis”.

“The opening in 2010 of our shop on the corner of Rua Augusta and Rossio was a success. Even during the country’s difficult economic time, from the beginning, the shop displayed a constant growth in sales. Without a doubt, the launch of this U.C. Benetton helped revitalise this area, which still presents great commercial and tourism growth potential.”

Alessandro TuciUnited Colors of Benetton


60%


10%

Traditionalretail

30% 16,100 sq m

Occupied Area*

Sectors


Services & convenience

Fashion

Restaurants

EuropeForeword TrendsPríncipe RealTourism Av. Liberdade R. Castilho Chiado BaixaLisbon Destination Lisbon High Street Retail

60%

5%

23%

28

2,400sq m

Medium

Premium1%

99% Mass Market

57%

Multi-brands1%


Mass MarketTraditional

80 €/ sq m/ month

Did you know...?Once the epicentre of all of Lisbon’s activities and trade, there are still shops operating in the Baixa that date back more than a century, such as Conserveira de Lisboa (canned goods) and Chapelaria Azevedo (hat makers).

Commercially, tourism has indeed stimulated this area, and now more than ever, we are witnessing a real race among large retailers to obtain a space in this location.

A total of 16,100 sq m on Rua Augusta is occupied by retail spaces, with traditional retail representing a significant portion (30%). Nonetheless, shops belonging to national and international chains carry the most weight here, representing 60% of the total occupancy.

As in the other areas analysed, fashion is the dominating sector. With the close of Viva store, the Home & Furniture sector was surpassed by the Services & Convenience sector, where are included the several Haberdasheries and Exchange stores and represent 5% of the area.

And last but certainly not least, we reach Terreiro do Paço, one of the largest squares in the world, where the ground floors of government buildings were converted into restaurants with generous patios. Museu da Cerveja, Can the Can, the traditional Martinho da Arcada and the nightclub Lust Lisbon are just some examples of the new tenants in Praça do Comércio.

Vacancy

Segment (fashion)

Origin

Prime Rents

Consumers

Retailers

Target

Stores


• Casa Pereira da Conceição

1933

• Sapataria Lord

1942

• Seaside• Calzedonia• Stradivarius

2002

• H&M

2003

• Intimissimi

2004Main openings

(area: 100 sq m)


192

2015 vs. 2014 12.6%

29

Baixa Retail Map

EuropeForeword TrendsPríncipe RealTourism Av. Liberdade R. Castilho Chiado BaixaLisbon Destination Lisbon High Street Retail

2

14

8

5

17

11

3

15

9

6

18

12

1

13

7

4

16

10

U.C. BenettonVitaminasFarggiCasa MacárioVitrineSolarisW52AmorinoSeasideSapataria LordCamisaria PittaChez ChemiseZaraSapataria LisbonenseBijou BrigitteAle-hopMarionnaudTruzCalzedonia

R. de Santa Justa

R. da Assunção

R. da Vitória

R. da Conceição

R. de S. Nicolau

R. Augusta

R. dos SapateirosR. Áurea

R. da Prata

1

2

345

9

6

78101112

13

20

23

1918

1716

1514

24

2122

32

34

3533

25

26

27

2930

31

28

Praça do Comércio

Praça D. Pedro V

Praça da

Figueira

Baixa/Chiado

Rossio

• Ydentik• Amorino• A Padaria Portuguesa

2012

• United Colors of Benetton

2010

• Parfois

2008

• Pull & Bear• Typographia• Vitaminas

2013

• Seaside• Fred Perry

2014

• Adidas• Wells• Benfica

2015

BenficaH&MTypographiaIntimissimiParfoisStradivariusBershkaPull & BearCasa Pereira da ConceiçãoMangoAdidasSpringfieldH&MFred PerryA Padaria PortuguesaTiger

Opening soon19

20

35

30

27

23

33

25

21

31

28

24

34

29

26

22

32

30

31

Príncipe RealBohemian, alternative, authentic, chic, are adjectives that best describe Príncipe Real. This area’s retail has been developing over the past 5 years, and it has decidedly put itself on the map, attracting innovative concepts, designer studios and alternative spaces, where the motto “unity is strength” pervades: typical ‘street’ concepts come together in former mansions that offer distinctive shopping gallery features. Embaixada, which focuses on national production, and Entre Tanto, which is more focused on fashion, convenience and spontaneity, are good examples that have joined differentiating entrepreneurs and concepts.

Including a total of 8,900 sq m of retail spaces, this area boasts high national representation, where about 84% of the retailers are of Portuguese origin. The concepts that mark this area and set it apart belong essentially to the fashion sector, which is much represented by bazar stores like Embaixada and Entre Tanto. A large portion of these shops targets a premium segment characterised by the alternative and hippy-chic style visible in the public that frequents the area.


12%


53%

Traditionalretail

35%8,900 sq m

Occupied Area*

Sectors


Fashion

Bazaar

Restaurants

“Príncipe Real is cosmopolitan, yet it exudes a neighbourly atmosphere. We are biased, since we have invested in almost 20 buildings here, but we think this is Lisbon’s most attractive area, since it embraces several urban cultures, age groups and socioeconomic strata. These features are reflected in and give rise to (everything is cause and effect...) high street retail where, more than in any other area, you can find authentic Portuguese innovation and “trendy-chic” brands driven by a new generation of national entrepreneurs.”

Catarina LopesEastBanc

EuropeForeword TrendsTourism R. Castilho Chiado Baixa Príncipe RealAv. LiberdadeLisbon Destination Lisbon High Street Retail

26%

17%

27%

32

860sq m

Medium

Premium71%

29% Mass Market

84%

Multi-brands10%


PremiumAlternative

40 €/ sq m/ month

Did you know...?The romantic Príncipe Real Garden receives some markets and fairs, where are sold from crafts and second hand items to biological horticultural products.

Several retailers report that more than 80% of their sales are made to foreigners.

The proportion of home & furniture goods is also growing on the streets of Príncipe Real, including more than 10 spaces, 80% of which are occupied by the antique shops that are so typical of this district. Located directly beside Bairro Alto, for many years Príncipe Real has been home to several trendy restaurants and is a favourite among a very cosmopolitan public that likes to keep abreast of the main tendencies.

This movement still remains, and numerous restaurants continue to open in the area: Prego da Peixaria, Cevicheria and the first restaurant of 100 Montaditos in Portugal increase this sector to 26% of the area in this zone.

Vacancy

Segment (fashion)

Origin

Prime Rents

Consumers

Retailers

Main openings

Target

Stores


• Pavilhão Chinês

1986

• Charcutaria Moy

2005

• Urze/Em nome da Rosa

2004

• B-bazar

2009

• Espaço B• Barbour• D’ici et lá• Lidija Kolovrat• Lost In• Pizza à Pezzi

2010

(area: 100 sq m)


375

2015 vs. 2014 10.1%

33

Príncipe Real Retail Map

21

EuropeForeword TrendsTourism R. Castilho Chiado Baixa Príncipe RealAv. LiberdadeLisbon Destination Lisbon High Street Retail

2

14

8

20

5

17

11

23

3

15

25

26

28

27

29

9

21

6

18

12

24

1

13

7

19

4

16

10

22

B. S. MamedeAmélie au ThéatreRoyaleEntreTanto indoor marketSlow Retail Concept Store21Pr Concept StoreUrze/Em nome da RosaEmbaixadaLisbon LoversJasmin NoirNuno GamaDel RioEspaçoBAli-JoCharcutaria MoyBarbourD’ici et LáAmerican VintageLidjia KolovratAlexandra MouraÓptica do Príncipe RealBaazarMini by LunaPó di TerraLost InIn-mageObjectismoMuseCasa da Praia

Rato

R. da Escola Politécnica

R. D. Pedro V

R. do Salitre

R. M

onte

Olive

te

R. de

O S

éculo

R. da

Ros

a

R. Nova

de S. M

amede

MiradouroS. Pedro

de Alcântara

Jardimdo Príncipe Real

1

2 3

4

5 67

98

1310

14

12 15 1618 19

2127

2625

28

2423

2220

1711

29

• Poison D’Amour• The Decadente• Honorato• Lisbon Lovers

2011

• Entre Tanto• In Image• Nuno Gama• El Tomate• Pub Lisboeta• Jasmin Noir

2014

• 21Pr Concept Store• Amélie au Théatre• American Vintage• Royale• Origami

2012

• Bettina & Nicolló• Hamburgueria do Bairro• Alexandra Moura• Sotão• Óptica do Príncipe Real

• Embaixada• Real Slow Retail Concept Store• Ali-Jo

2013

• Nails Meeting• Objectismo• O Prego da Peixaria• Frozz Yoghurt

34

The combination of various factors is causing individuals to change the way they move around and occupy territory. Whether due to reasons pertaining to a lack of money or time, lifestyle changes or their relationship with consumption, or even the impact of growing improvement, in terms of supply and infrastructures, Portuguese residents living in different cities in the country are redefining their sphere of action and how they use the different spaces they frequent for consumption and leisure.

C-The Consumer Intelligence Lab, a project we have developed by Return On Ideas, launched a study at the end of 2013 that aimed to interpret those changes, measure them and try to forecast their evolution in the future. The ideas we share here are sustained precisely by those results.

The postitive experience of proximity:Redesigning a new “comfort zone” in consumption and leisure65% of individuals affirm that they increasingly strive to concentrate their daily tasks in areas close to where they live/work. Despite the main reason for reducing their sphere of action being a need for economic adjustment, it is undeniable that the shifting of flows to increase proximity is also based on reasons that are strongly related to new lifestyles. When cities offer us alternatives, times and desires change, as is proven by the evolution of different patterns in the relationship with retail, outdoor leisure spaces or shopping centres, observed in Lisbon and other Portuguese cities.

Trends that are driving change in city life By Clara Cardoso Return On Ideas

We foresee that a new comfort zone is truly emerging in consumption, which is more limited by the convenience of daily movements. “Far” and “near” are redefined, just as “on the way” gains new and more relevant meaning.

The assertion of public space:An opportunity to create clusters of experience and well-beingRegarding the increase in walking, if an inversion of the economic situation may lead to a reversal in behaviour, the extensive use of public space that has grown from new lifestyles (more outdoor sports, more socialising around other interests…), is so great that this habit is unlikely to change, even in a more favourable economic context.

In fact, as we have defended in C-Lab, this process of rediscovering public space is no longer part of a necessary adjustment. It is the achievement of a new way of life.

The symbiosis between consumption and public space, between consumption and leisure, is inevitable. Joining efforts to create clusters of experience and well-being (which are necessarily multifunctional) will certainly be successful. Portuguese response to the experience offered by hybrid formats such as Ikea, Fnac, or, on a different scale, Shopping Centres and some districts/streets like Chiado, leaves no room for doubt.

“The return to community life and business is a clear tendency in the present day. In this period of reduced purchasing power, families want to avoid shopping centres because these are veritable cathedrals of consumption. There is also a desire to create social roots, to bring the neighbourhood back to the old ways – in the A Padaria Portuguesa shops, we have several mothers who leave us the house key for their children to pick up.”

Nuno CarvalhoA Padaria Portuguesa

35

Seeking new formats & alternative experiences:The increasing search of innovation in terms of format and offerSome consumption spaces are gaining importance in the choices made by Portuguese consumers, especially in a leisure context. Not only do thematic fairs and street markets multiply throughout the city, but there is a growing number of shops, new or remodelled, that present something novel in terms of space, offer or experience. It is above all the novelty and experience factor that most attracts people to local retail, which explains why this doesn’t translate, for example, into a significant return to traditional trade – butchers, grocery stores, fishmongers, etc.

This phenomenon of returning to the street is still highly limited to the big cities and areas where there is greater commitment to urban renewal, but it suggests that there is a growing demand for alternatives to mass formats, especially in a leisure context and in categories where space can greatly limit the consumption experience, as is the case with restaurants and Horeca. The more mature consumption is, the greater the demand for alternatives, which is why residents of the districts of Lisbon and Porto display more interest in this new type of offer.

Examples of modernised formats such as the burgueries and A Padaria Portuguesa, and the possibility to enjoy parks and squares to the fullest, enabled by kiosks and outdoor patios that multiply across the city of Lisbon, are unmistakable assets in the eyes of consumers.

The fact that the online channel increasingly stands as a good alternative to physical channels, also challenges shops to turn the “going shopping” experience into entertainment, discovery, a sensorial experience.

While online shopping appeals fundamentally to the visual sense, a fair or a shop can offer smells, touch, taste, music. The ability to provide an experience is hard to match online.

The change in portuguese consumption and leisure patterns, translated into the numbers beside shows how important it is to reinvent concepts of experience.

Replaced by a Closer Format

Search for Alternative Formats

Use Online Channel

Supermarket

Hypermarket

Gas Station29%

28%

27%

Grocery Stores27%

Market

Newstands22%

18%

24%Increasingly use street shops/spaces offering alternatives to large brands.

69%Does shopping online.

18%Increasingly use 2nd hand fairs and markets.

20%Frequently shops online.

18%Of those who changed where they did their christmas shopping, did their shopping in local/street shops.

12%Of those who changed where they did their christmas shopping, did their shopping online.

Source: C -The Consumer Intelligence Lab

EuropeForeword Tourism R. Castilho Chiado Baixa Príncipe Real TrendsAv. LiberdadeLisbon Destination Lisbon High Street Retail

COPYRIGHT© JONES LANG LASALLE IP, INC. 2015. All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means without prior written consent of JLL. It is based on material that we believe to be reliable. Whilst every effort has been made to ensure its accuracy, we cannot offer any warranty that it contains no factual errors. We would like to be told of any such errors in order to correct them.

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Lisbon Street Shopping – The surge of High Street Retail in Lisbon

JLL offices

LisbonEdifício Heron CastilhoRua Braamcamp, nº 40 - 8º1250-050 LisboaTel: +351 213 583 222Fax: +351 213 583 223

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Patrícia AraújoHead of [email protected]

Maria EmpisHead of Strategic Consultancy & Research [email protected]

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