Many shopping mall developers think that giving 25% GLA to F&B means getting the expected return on investment. The situation is actually very different and goes beyond the 65% that the boldest investors envision.
Strategically designing shopping mall spaces for the FB&E (Food, Beverage and Entertainment) areas is no longer a choice, it’s the only way these malls will be able to survive.
By reading the articles we selected this month, you’ll get an idea of what’s coming, not only a world where retail is being consumed online, but an urban society that experiments and shops through virtual reality.
We show you this context so you know that developing shopping malls is possible but with a different vision, in which spaces are created not just to have stores in them, but to tell stories.
Mero Mole® has designed products like Mall Doctor and Mall 2.0 that let you rescue your mall from the past and adapt it for the future. At Mero Mole®, we challenge the status quo by jumping onto the technology train to transform traditional spaces into new destinations where the main goal is to create experiences.
Don’t hesitate to call us!
Shopping malls are, without a doubt, changing their strategy to obtain a healthy return on investment. Nowadays, in these spaces it’s common to see more climbing walls, more restaurants, more bars and fewer department stores being built. This year, in the USA, bankruptcy was inevitable for over a dozen retailers.
The question for all developers is: What’s the secret to selling more in this digital era? Whether it’s creating Food Halls® where different consumption occasions mix together, or setting up art or recreational spaces where department stores once were. Remodeling is a must for existing shopping malls. To generate more traffic is always the main goal.
Many developers know that the current version of shopping malls must change, but they talk about disruption without really being ready to take a risk, and they end up investing in more of the same.
The problem is that change must be radical. In this article, they paint us a picture of what’s coming in the next few years and it’s clear that if we don’t jump into the boat, we’re out.
Basically, e-commerce, led by Amazon, Alibaba and eBay, will control 40% of world trade, and in 15 years, this category will take over retail completely. And that’s not all, a new technology wave will revolutionize e-commerce as we know it. Our entire lives will be connected, our homes, cars, essentially everything we consume will be automated to the point where everything we need will be provided for us at the right moment with minimum consumer involvement, e-commerce will have a life of its own.
Clearly, the future of shopping malls is in FB&E (Food, Beverages and Entertainment). Malls will be destination points for the community. Products will be changed for productions.