Malls Morph to Stay Alive. Will it Work?

As recently reported by Parija Kavilanz, a senior writer at CNN Business, as Covid restrictions ease, shopping malls are morphing into family entertainment destinations where shopping may no longer be what draws shoppers in. 

Thanks to the rise in online shopping, mall operators are being forced to diversify beyond shopping in order to stay relevant to consumers.  In an effort to survive, bowling alleys have undergone similar changes in recent years, transforming into entertainment centers offering arcade games, upscale food, glow golf, live music, and more.

Take for example Tanger Outlets, which operates 36 upscale open-air outlet centers in 20 U.S. states and Canada.  It’s looking to augment the shopping experience at its locations with such experiential offerings as virtual golf, microbreweries, and Pickleball – the fastest-growing sport in America for the second straight year.

The goal?  That these social experiences increase the dwell time at a mall, giving vendors a better chance to make a sale.

Jill What Can I Do?  The world is changing at a rapid pace.  The organizations that will thrive are those which are proactive, staying one step ahead of consumer sentiments and desires.  Foresight – knowing what customers will want and need in the future – starts with insight and intuition, but is more dependent on big data and predictive analytics. It’s intuition, but with more knowledge.  For insights about how to know what your customers want before they realize it, check out this article by Dan Blacharski, a thought leader and PR counsel to several Internet startups.  It will get you thinking.