Malls – The (Still) Big Question Mark

Theo Pliarchopoulos

Malls have always been more than just places to shop. They’re where communities come together, where memories are made, and where life feels alive under skylit ceilings. But today, malls face a big question: can they keep up with a world that’s increasingly moving online?

The Challenge: In the U.S., the past two decades have seen dozens of mall closures, with e-commerce now claiming 20.1% of total retail sales (source: Analyzify). The convenience of shopping from a couch has reshaped consumer habits, leaving traditional malls struggling to stay relevant.

But the story isn’t the same everywhere. In Dubai, UAE, shopping mall space grew from 3.1 million square meters in 2015 to 5.4 million by 2021—and it’s still expanding (source: Statista). In Saudi Arabia, malls in Riyadh are expected to grow by 26% by 2026 (source: Gulf News). Even Europe is seeing steady growth, with the number of shopping centres climbing from 9,500 in 2017 to over 10,000 by 2021.

Clearly, the mall’s future depends on where you are—and how willing you are to adapt.

The Opportunity: People haven’t stopped wanting to gather, socialize, and explore. What’s changed is how they want to experience it. The malls that thrive today—and tomorrow—will be the ones that offer something more: a reason to visit beyond shopping.

To succeed, malls must transform into destinations that:

• Feel exciting and worth the trip.
• Seamlessly blend online convenience with the irreplaceable energy of in-person experiences.
• Create a sense of purpose and connection for every visitor.

This isn’t just about keeping doors open—it’s about reimagining what a mall can be.

The Solution: The key lies in immersive experiences that surprise, delight, and engage. This isn’t about flashy gimmicks but creating environments that make visitors feel seen, understood, and welcomed.

Imagine walking into a mall where:

• A light show in the parking lot grabs your attention before you even step inside.

• A virtual assistant uses augmented reality to guide you, making the space feel smaller, friendlier, and easier to navigate.

One amazes you. The other connects with you. Together, they create an experience that keeps you coming back—not just for what you need, but for how the space makes you feel.

Conclusion: Malls aren’t dying—they’re evolving. And with the right vision, they can thrive in ways we’ve never seen before. This means investing in experiences that resonate with today’s visitors and preparing for what they’ll want tomorrow.

For developers, executives, and stakeholders, the challenge is clear: rethink the purpose of the mall from the ground up. Whether it’s starting fresh with a new project or breathing life into an existing space, this is a chance to create something extraordinary.

The question isn’t just about survival. It’s about leadership. Are you ready to shape the future of malls?

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