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Malls can enhance the physical shopping experience and social interaction, which is a unique proposition that e-commerce cannot provide.
In an era where younger technology-savvy customers prefer online shopping over traditional malls for selected services and goods, physical retailers have shown they still have relevance in this digital age, reported JLL Research director Angelia Phua.
This is brought about by landlords finding new ways to enhance the physical shopping experience and social interaction in malls, things which e-commerce cannot give.
Phua identified several strategies Singaporean malls can employ that are based from methods used around the world.
These strategies have worked well for malls and enhanced their appeal as retail spaces and gathering and social destinations, which increased foot traffic.
Featuring local brands, designs and cultural themes could give a local flavour and improve the uniqueness of malls for customers. For example, ICONSiam in Bangkok has an indoor floating market promoting Thai provincial crafts and food.
Malls could incorporate unique attractions having innovative concepts that give a sense of novelty to the shoppers. The Dubai Mall offers amenities ranging from skydiving to a desert safari while also having an Olympic-sized ice skating rink.
Landlords could also have a mix of tenants that offer various experiences and are more event- or experience-driven. They could also increase the mix of entertainment, beauty and wellness and food and beverage retailers.
Hong Kong’s H Zentre and Landmark Atrium have bought in to the health and wellness movement and have put up wellness/sports elements in them to increase foot traffic.
Phua also suggested that malls incorporate retail spaces for community gathering, social and networking uses such as flexible workspaces and art galleries.
Hong Kong malls such as Harbour City and K11 Musea have been featuring cultural and arts programmes to give local shoppers a sense of discovery and novelty and to attract new shoppers.
Landlords could also use research to better understand consumers’ buying patterns and needs, in order to shape the tenant mix to meet the changing preference of shoppers, to reposition malls and for targeted marketing.
They could also utilise hardware and software solutions such as face recognition devices to collect information on shopper behaviour and to enhance consumer experience, encourage retail spending and promote repeat visits.
According to Phua, malls need to stay on top of social-interactive and technological trends, as well as shoppers’ needs and changing lifestyles, to generate high foot traffic, healthy mall performance and encourage re-visits.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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