Malls Rebooted 2.0

?While the brick & mortar retail was was already struggling with inroads of Online Retail came the pandemic which made things worse. Consumers understood the importance of fulfilling basic needs for survival and not so basic needs like fashion took a back seat. Incase there was still a small percentage of pent up demand , the online retailers were more than eager to fulfil it. The end result being shopping malls struggling more than ever to stay relevant. Keeping the human psyche in mind, malls everywhere especially in India where the majority of disposable income is spend towards food , I feel its time to let Food take the centerstage .... let fashion ride piggyback on food for conversionsThe biggest change that the pandemic has delivered is the break in shopping habits and the obvious increase in online retail. Malls need to find ways of re-engaging with consumers, giving them an experience and a destination worth leaving home for. As many consumers have been experimenting with cooking at home plus the drive to buy more local, it makes a lot of sense that they would be looking for different food concepts, farmers markets and specialist food outlets.?

Food is a big allure for malls, especially outdoor malls. So, there is room to stop relying on traditional mall anchor stores to do the heavy lifting and think differently about what a new mall experience looks like, starting with food. Owners can reinvent the food court with the Food Truck Alley, give new experiences like Tapas crawl or even Farm Fresh Finds.

And when I say food it’s not just restaurants,??interest in grocery, farmer’s markets and curated food halls, which are not like the existing quick service food models. Food brings us together. It is an important point of engagement, offers memorable moments and can be the cornerstone of a community. Food also drives traffic and extends mall foot traffic beyond the conventional store hours.

What if the food court was operated more like a specialty store? What if they offered something above and beyond the same burger, the same??pizza, the same traditional Thali, the same fried chicken??and the same Indian style Chinese food. The food court has done a good job on the basics. Now how about some novelty and “fashion”? Some rotating, curated, seasonal freshness? Something unexpected? How about a treasure hunt experience in the food court??The basic idea being making food courts??into food halls??“A destination”??where shopping becomes incidental instead of the other way round.?

??We love to play, and so do our children. In the 21st century, much of our play is virtual. But we still love to jump, swing, and use our heads. The truth is, we like to play so much that we’ll pay for it. It’s essential for malls and their owners to recognize this issue.?From E-sports which is a multimillion dollar business?to escape rooms, VR gaming and similar entertainment businesses are catching consumers’ attention. Not only that, they’re catching plenty of customers’ money too.

Health & wellness?came in a strong third after food.& gaming. Consumers continue to see tremendous value in staying well and physically fit. These concepts include the obvious walk-in medical clinics and gyms, to brands that sell fitness equipment and apparel.

New concepts and experiences is another way to rejuvenate the malls , be it via?experiential retail and??or adding co-working spaces?to the mix.

The mall of tomorrow needs to be a destination: part amusement centres with gaming arenas, part farmers market, with the addition of food halls , restaurants, bars , health and wellness centres.?Customers should want to go to the mall for reasons other than shopping and will likely end up shopping once they are there.