Skip to main content

How Malls Will Attract Consumers in 2020


Malls have had a tough run for the past few years. Once the wave of mass store closures that caused the ‘retail apocalypse’ scare hit, shopping malls took the brunt of it.

In the blink of an eye, mall assets became empty and vacancy rates were on the rise. Many of us have been thinking that the shopping mall model was ‘dead’ and didn’t have much hope to be revived.

However, in the latter half of 2019 things began to change. Brands announced their return to the mall scene after reconfiguring their strategies to accommodate the new era of retail. But what does this mean for malls?

The biggest question on everyone's mind is about the value proposition that malls have to offer contemporary shoppers. What exactly will draw consumers into shopping malls this year? Whatever it is, it would have to be incredibly appealing - and so far, the developments are gearing up to be just that.

Here are 6 trending things that will be driving shoppers back into malls in 2020:

Brand-Specific Storefronts

Successful brands are evacuating big department stores and taking their own stand as small, independent storefronts.

Retail companies are using these smaller locations to boost brand identity and establish a greater culture around their services. It’s chic, exclusive, and very attractive. The store’s aesthetics are concise, harmonious, and sleek - which is everything that today’s shoppers love.

These smaller spaces also give brands the chance to boost consumer engagements and interact with shoppers on a one-on-one level. It’s providing a customized retail experience that is all the rage in today’s market.

Pop-Up Events

Specialty events will be another big perk for shopping malls. Pop-up shops and events will be a main strategy to attract people back to malls. Whether it’s a brand-specific event or a mall-wide occasion, these pop-ups can be broadcasted across social media with enticing graphics that are sure to spark the interest of shoppers.

BOPIS Options

Online shopping will be collaborating with physical retail through BOPIS - buy online pickup in store.

The option to get online purchases instantly via a pick-up counter in a brick-and-mortar location is appealing to shoppers. And, once they are in the mall, it’s likely that they will make additional purchases. It’s a great tactic to drive traffic into shopping centers.

Experiences Galore

There’s one thing that can never be delivered through the online-shopping module, and that’s an in-person experience. Malls are adopting experiential amenities anywhere they can. This trend is all about harnessing the tactile, social, and leisurely aspects of shopping.

Tech Integrations

Technology will also be playing a big role in boosting malls this year and beyond.

AI and automation can be applied in many different ways to improve the shopping experience. Plus, technology is cutting-edge and cool. Investing in tech tools, such as increased security or augmented-reality dressing rooms, will be key additions to today’s malls.

Going Beyond Retail

Finally, malls will be extending far beyond mere retail in 2020. Expect to see gaming centers, spas, fitness boutiques, entertainment options, high-class dining, and other attractions popping up within malls. These locations have more to offer than just shopping - making it fun for everyone.

These 6 trends will be reshaping malls in 2020 and beyond.

Comments

Post a Comment

Popular posts from this blog

4 CRE Trends We Can Attribute to Millennials

Today’s workforce is undergoing a major shift in population. As of 2017, 56 million Millennials are either working or actively searching for work , making them the largest segment of the U.S. labor force, surpassing Gen Xers in 2016 and this will eventually lead to an impact of office space needs and what companies are looking for with new office leases.   More than one out of every three American workers is a Millennial -- more than Gen Xers and much more than Baby Boomers. And, just as every other generation that came before them, Millennials pride themselves on marching to the beat of their own drum, if you will -- wearing different clothes, listening to different music, and working differently. The very idea of where and how we work is undergoing a revolution right now, with major changes being made in physical design and decor. Here’s a closer look at 4 CRE trends we can attribute to millennials… 1. Millennials prefer non-traditional workspaces   ...
Post a Comment
Read more

NAI Emory Hill Sells Wilmington Shopping Center

  Wilmington, DE – NAI Emory Hill ( www.naiemoryhill.com ) is pleased to announce the sale of a 8,710 square foot shopping center located at 2308 Concord Pike in Wilmington, DE to The Wittig Family at DSM Commercial. Dave Morrison and Jim O’Hara Jr., of NAI Emory Hill, represented the purchaser and Seller in this transaction. This retail center is anchored by Mattress Firm, Green Drop and China Inn. The center is strategically located at the intersection of Sharpley Road and offers a great retail location along the busy Route 202 corridor. NAI Emory Hill is a completely full-service commercial and residential real estate firm serving Delaware and the surrounding counties of Maryland, New Jersey and Pennsylvania. Founded in 1981, we have the resources to design, build, finance, lease, sell, manage and maintain commercial and residential properties throughout the Mid-Atlantic . Learn more about our services at: www.propertymanagementdelaware.com www.emoryhillhomes.com
Post a Comment
Read more

PropTech 101: What CRE Professionals Should Know

Everyone in the CRE biz has doubtlessly heard the term proptech getting thrown around. Whether it’s been in article headlines, on the web, or during business conversations; ‘proptech’ has officially integrated into the commercial real estate vocabulary. Unfortunately, there isn’t always an on-hand dictionary available to help novices decode the latest and greatest CRE lingo. While proptech popularity has surely skyrocketed during 2019, some of us still may be confused as to what exactly proptech is. We’re happy to clear up the confusion; covering what proptech actually is and why CRE professionals should care. PropTech Explained The moment you’ve been waiting for is here… when you finally get a concise definition of the term PropTech. According to real estate technology experts at Forbes , proptech is ‘the acronym used to describe any technology for the real estate space.’ If that’s not clear enough, here’s another universally-accepted explanation devel...
Post a Comment
Read more