Is the mall dead? It’s easier than ever to make this argument, considering the last 18 months of record ecommerce sales and the reluctance to shop in person due to the pandemic. However, industry experts believe the mall is ready for a comeback. It will look different, though, and leverage technology to create new experiences for shoppers.
September 30, 2021
Interactive experiences will replace anchor stores
Since its inception, the mall concept has been built around anchors, which were typically department stores. Unfortunately, many of those traditional department stores have been on a slide for some time. Neiman Marcus, J.C. Penney, Ascena Retail Group and Tailored Brands filed for bankruptcy in 2020.
While they are still operating, they've all closed numerous stores and are rethinking their footprint.
With increased competition from Amazon, Target, Walmart and other ecommerce retailers like Etsy, department stores couldn't survive. As they vacated malls, large spaces became vacant. Without the influx of new retailers, malls are now looking to reimagine the shopping experience with interactive experiences.
One example is the Village at the West Oaks in Houston, which transformed a Bed Bath and Beyond into a new retail experience. Sesimique is an interactive art museum that's family-friendly and full of wonderful surprises. Similarly, Canada Goose, a luxury clothing retailer, created "The Journey: A Canada Goose Experience" at CF Sherway Gardens Mall in Toronto. The space focuses on telling the story of the products, the people who where them, and the connection to the natural world.
These immersive experiences won't bring the mall back to its former glory. However, they will certainly attract more people to the space.
Practicality Is Reshaping the Mall Footprint, Too
While immersive experiences are an exciting possibility, other options are a bit more practical. Healthcare providers are looking at malls for plausible spaces, according to a 2019 report.
Vision centers have people a popular fixture in malls for a number of years. With COVID-19 malls have become popular spots for testing and vaccines. Primary care, specialty care, labs and other services could also soon become permanent fixtures. In many cases malls provide greater convenience for consumers, including better locations, parking and hours.
What Digital Tools Can Malls Use to Entice Shoppers to Come Back?
Brands have a significant opportunity to elevate the shopping experience with technology. Interactivity and engagement are key here.
Some applications include:
The Mall of Tomorrow—Powered by Technology
One thing that is sure about the mall of tomorrow is that technology will be pivotal to the transformation. From digital signage to kiosks to touchscreens, the Omnivex platform can help your organization. Explore our retail solutions.
Omnivex digital signage software enables organizations to collect, present, and share information in real-time, on any screen.