Malls need to upgrade and evolve if they want to keep up with changing consumer habits.
With online shopping gaining strength and health concerns likely to hold back customers from visiting crowded places, malls need to change their approach. Apart from adhering to strict safety and health protocols, they can also change store layouts to spread out the foot traffic flow to reassure reticent consumers.
Creating deeper connections with the community by supporting local institutions and businesses can help in getting more people walking-in to malls. Being open to non-traditional tenants like workspace shares or community spaces can help fill the hole left by financially hurting chain stores.
Instead of relying on retail tenants, malls should create events or experiences on their own that can attract consumers. They can also lend their expertise to less knowledgeable retailers in quickly setting up experiential pop-ups.
[ 9 minute read]