Inspired by members' clubs, hobbies and national holidays, a new template is emerging for a successful shopping experience, writes FRCH's Emily Hamilton.
With 25% of shopping centres forecast to close within the next five years, ‘mall’ is becoming the new four-letter word that many dare not utter – especially those in the retail sectors.
Developers around the world are already busy rebranding their current and future projects. Now they’re mixed-use centres, hybrid destinations, community spaces, precincts, platfoms – new terms that aim to define the evolution of the shopping mall. But no matter what you call it, a new template is emerging for a successful shopping experience. It has little to do with the products offered; instead it’s about programming.
Adding new variables to traditional tenants, taking retail and restaurants, and layering not just entertainment but culture and community. These range from test kitchens to ‘mummy and me’ yoga; they’re experiences that cannot be replicated online, held at unique destinations with differentiated offerings. In fact, such event-oriented spaces are no longer seen as a bonus – they are, and will be, an essential piece of the puzzle when it comes to creating the shopping centre of the future. For retail brands, programming is the ultimate investment in the future of their space.
As seen with the rise of social club and co-working hybrids like The Wing and The Collective, the key to member participation is relevant programming. For retailers and developers, there is a benefit to following suit, as not only does this community-building ethos help to recruit new visitors, it ensures existing customers remain engaged. With this in mind, retail developers must think of their visitors not as shoppers but members, elevating their experience to better anticipate their needs before they even ask.
