International research conducted at the University of South Florida has shown that caffeine affects what we buy and how much we spend on shopping.
An international team of researchers conducted three experiments in shopping malls.
Caffeine is a powerful mind and body stimulant by releasing dopamine into the brain. It can cause a surge in energy levels, making the body more irritable and reducing self-control. And as a result, being overly impulsive, people make rash purchases and spend more money than planned, explains study lead author Deepayan Biswas, a professor at the University of South Florida.
As part of the study, one coffee machine was placed near the entrance to a home goods store, the second was placed near a chain retailer in France, and the third was installed in Spain in a large shopping center. More than 300 participants in the experiment received their drink and went shopping.
After the subjects had made their purchases, they had to give all receipts to the researchers. According to the data obtained, it turned out that those who drank the caffeinated drink spent and bought more goods.
Scientists have also found that caffeine affects what people buy. Those who drank coffee were more likely to spend money on non-essential items, such as scented candles or perfumes.
The scientists conducted another experiment in the lab, only this time the participants had to shop online. 200 business school students were divided into two groups. One drank coffee with caffeine, the other without. All participants had to choose goods from the proposed list, consisting of 66 items. Those who drank caffeinated drinks were much more likely to make impulse purchases, like a neck massage machine, while others were more likely to make more practical purchases, like a laptop or a washing machine.
“Caffeine can indeed have a beneficial effect on a person’s well-being, but it can cause disappointing consequences after shopping. Anyone who wants to control their spending should limit their coffee intake before going to the store,” says Biswas.
Budhouse Group’s shopping centers were visited by 28.6 million people in 2021, which is 50% more than in 2020, the developer’s press service reported.
Such a significant increase is explained, first of all, by the opening of Kharkiv shopping center Nikolsky in May 2021. If we compare the attendance of other operating shopping centers, then there is also a gradual recovery of traffic after a fall in 2020 – a 13.1% increase. But none of the company’s shopping centers has yet reached the level of 2019, which is explained by quarantine restrictions, which also took place in 2021.
On average, as reported by the press service, there were 552 visitors per 1,000 square meters of the mall area. According to the company’s research, on average, visitors visit Budhouse Group’s shopping centers seven times a month and spend 73 minutes in them per visit. This is about the same as in 2020, and 16% less than in 2019, due to the restriction of the entertainment and catering sector.
The total turnover of Budhouse Group’s shopping centers in 2021, taking into account the new Nikolsky shopping and entertainment center, amounted to about UAH 10.4 billion. The turnover of Budhouse Group’s shopping centers in hryvnia equivalent in 2021 increased by 22% compared to 2020 and by 13% compared to 2019. In euros/dollars, the turnover of the company’s facilities reached the level of 2019 and even slightly exceeded it. The largest growth in turnover was observed in the Forum Lviv shopping center (27%).
The average vacancy in Budhouse Group’s shopping centers in 2021 was about 0.8% (0.6% in 2020). The minimum vacancy was recorded in the Forum Lviv shopping center and the Lubava shopping center (0.4-0.5%).
The rotation of tenants has decreased compared to 2020. In just a year, 19 new lease agreements with a total area of 3,600 square meters were signed in the existing shopping centers. For comparison: in 2020, some 30 new contracts were signed for a total area of more than 6,500 square meters.
Budhouse Group is a full cycle company engaged in investment, development and management of sustainable real estate assets. Since 2009, the company has opened four shopping centers: Fabrika shopping center (Kherson), Lubava shopping center (Cherkasy), Forum shopping center (Lviv), Nikolsky shopping center (Kharkiv) and Khortitsa Palace hotel (Zaporizhia). There are two projects at the implementation stage – Yessa shopping center (Odesa) and Khortitsa Mall shopping center (Zaporizhia).
Vilna Ukraine news agency LLC (Kyiv), owned by the former owners of Aval Bank, on August 8 opened the new River Mall shopping and entertainment center with a total area of 140,000 square meters at 12 Dniprovska Embankment in Darnytsky district of Kyiv.
According to Colliers International (Ukraine), an exclusive broker of the shopping and entertainment center, its concept was developed by the Archpassage Ukraine architectural group together with the international architectural company ChapmanTaylor.
The rental area of the mall is 64,000 square meters. The complex includes a shopping center (55,500 sq m), multi-level ground and underground parking lots for 1,550 cars, as well as a business center and an aqua park. The co-owner of the mall, Serhiy Vovchenko, earlier told Interfax-Ukraine the opening of the water park is planned for summer 2020.
The Planet Kino cinema with an IMAX hall began operating in River Mall on August 1.
River Mall consists of five levels: three on the ground, with shops, a cinema and a food court, and two underground with a parking lot and a supermarket.
An average vacancy rate across portfolio of shopping and entertainment centers in Ukraine managed by the Arricano Real Estate Plc (Cyprus) is 0.1% through January-June of 2019, according to the company’s report on London Stock Exchange (LSE). “In the first half of 2019, the average vacancy rate of shopping malls in Kyiv is 5.5%, and in our shopping malls, Kyiv inclusive, this rate is several times less. Going into the second half of the year, Arricano has recorded the lowest vacancy rates since 2012. I believe this is a result of the systematic work, innovative approaches and competent management in recent times,” said Arricano CEO Mykhailo Merkulov.
In particular, for the first half of 2019, Sun Gallery (Kryvyi Rih) and City Mall (Zaporizhzhia) recorded a 100% occupancy, whilst the RayON and Prospekt shopping malls (both located in Kyiv), recorded vacancy rate of 0.08% and 0.17% respectively.
Arricano is one of the leading real estate developers of shopping centres in Ukraine with European investments. It is listed on the AIM Market of the London Stock Exchange since 2013. Today Arricano Group owns and operates five completed shopping centers and 49,9% shareholding in Sky Mall and land for further three sites currently under development.
State-run Oschadbank and Ukreximbank have put rights of claim under a loan agreement with Kyiv-based Gulliver shopping mall’s mortgage up for sale through SETAM’s OpenMarket system for UAH 18.177 billion.
The lot includes a 1.14 ha plot of land on Kyiv’s Sportyvna Square, a trading and office complex with a parking lot with a total area of 151,800 square meters, a 0.11 ha plot of land for construction of a new trading and office complex, and 100% of corporate rights in the borrower’s charter capital, says an announcement posted on the trading platform.
The auction is scheduled for October 16. Bids are accepted until October 15.