The rent negotiation process and retail rents : The gap between retail and real estate owners in a transforming market
Sammanfattning: This study aims to examine what factors retailers and real estate owners deem important in the process of determining expected rent levels in today's climate within retail where e-commerce is growing at a quick pace. The elements of the research questions stand on the foundation of the theory of rational expectations as well as the theory of anchoring. The method used is of qualitative nature where a case study consisting of two cases have been conducted. One in which interviews with representatives from three geographically distinct selected shopping centres have been carried out and another in which representatives from well-established retail companies have been interviewed. From these two case studies, insights regarding the existing discrepancy between the two parties, retailers and real estate owners, have been gathered. It is concluded that expectations about the future have significant impact in rent negotiations and that differences in expectations might be adding to the existing discrepancy. Moreover, results of the study indicate that retailers and real estate owners might be subject to self-inflicted anchoring in rent negotiations. The study contributes to research in further generalizing two well established theories by providing insights on how the rational expectations' theory as well as the anchoring theory could be applied on rent negotiations.
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