The future of the mall

The COVID-19 pandemic introduced a new shock to the retail industry, accelerating the evolution toward the mall of the future and raising new questions and considerations about what this new destination will look like. How can malls attract customers and bring them back safely? What role will technology play? And how can malls stay relevant in the new normal?

To answer these questions, we spoke with mall landlords, retailers, and consumers to hear their thoughts on what’s next for the mall and what’s likely to change permanently. Through these discussions, we have determined five critical changes that mall landlords and retailers must accept if they want to keep customers coming back. They must:

1. Focus on safety and convenience, balancing consumers’ desire for social interaction with their need for a safe, easy shopping experience.
2. Rethink the role of the store, emphasizing the associate’s role in facilitating an exceptional customer experience and focusing on flagship, showroom, pop-up locations, and other innovation formats.
3. Make way for the food revolution, which will become the new anchor that brings visitors to the mall as less relevant fashion retailers move out.
4. Embrace technology, capitalizing on digital tools to maximize productivity and efficiency and to create experiences that are dynamic and engaging.
5. Become a new destination, creating a multi-purpose environment that offers extensive leisure activities as well as other services, like office, residential, and cultural amenities.

Read the report to explore the findings and get some insight into what the mall of the future may look like.