What is the future of shopping malls?
AUSTIN (KXAN) – They’re a nostalgic piece of the past for many people: being dropped off at the mall with friends for shopping, snacks from the food court, and giggling over the latest silly treats at Spencer’s. It is a pastime that many may remember when they were growing up. But as online shopping, 2-day delivery and pickup next door become more of the norm for consumers, how will malls adapt to the shift?
Gone are the days when most people go to the mall to buy clothes. Experts say the next step for the mall is not to rely so much on the big department stores as Macy’s, Nordstrom and JCPenney. Now it’s about making the mall a place where you can shop, but also have a unique personal experience, like attending an event or concert.
“There are malls being reformed with an outdoor space to serve as a concert hall. Or renovate the mall completely. For example, Highland Mall has been transformed into a community college with housing, retail, shops, retail, yoga in the mall. Everything, “What’s an experience in the form of ‘Hey, I can not buy this online, but I can do it somewhere. These are the things that need to happen the most,'” says real estate reporter for the Austin Business Journal, Parimal Rohit.
The North Austin domain is another example of how the mall’s experience has changed. It has several clothing-based department stores, high-end shopping, restaurants, offices and places to live, exemplifying a model where consumers have a place where they can live, work and play.
Read the full story on the Austin Business Journal’s website.
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