What does the future hold for the shopping mall?
There are currently more than 1,000 malls struggling to re-engage a consumer distracted by the convenience of digital offerings. With the continued growth of e-commerce, the introduction of new paths to purchase, and the impact of COVID-19, mall developers are faced with difficult challenges and the ultimate question: what does the future hold for the shopping mall?
The business of delivering retail goods and services has reached an inflection point shaped by the competitive challenges transforming the industry before our eyes. COVID-19 has only accelerated this pace of change. Smart retailers and owners are making significant strides in adopting and implementing new strategies that will shape retail over the ensuing decade. Change is not an option; it is required for survival.
Topics addressed in this article include:
- The evolution of the shopping mall
- Why only the strongest will survive
- Adaptive reuse as a viable option
- The changing retail space