New Ideas for Old Shopping Malls

New Ideas for Old Shopping Malls: 3 Ways Retail Developers are Remixing the Shopping Center Experience

Coming out of the International Council of Shopping Centers’ RECon convention in Las Vegas last month, there’s been a lot of conversation in the media around the future of retail development. One topic I find particularly interesting is the discussion on different ways developers are reimagining existing shopping centers, especially in the wake of shifting consumer habits when it comes to retail and entertainment.

As the commercial construction partner for several large-scale retail center redevelopment projects over the last few years, we’ve had a number of clients say that in the current market, particularly in large metro markets like Chicago, existing malls offer the location and square footage they find attractive; however, the spaces and buildings on these sites typically don’t work with their prototype. It’s not enough to have a mall filled with specific brands and storefronts to draw in shoppers – developers know they also have to create a unique destination that offers a great experience to attract consumers. With that goal in mind, here are some of the latest offerings we’re seeing mall developers use to transform existing malls and drive traffic:

1) The Rise of Grocerants

In the current ‘foodie’ culture, grocery shopping is no longer a chore. In fact, today’s high-end, gourmet grocery stores – dubbed ‘grocerants’ for their combination of grocery shopping experience and casual dining areas complete with a variety of food counters and even wine and beer offerings – have become a destination in their own right. Besides driving traffic to a retail center, these upscale grocers have the added benefit of utilizing a large amount of square footage – making them an ideal choice for repurposing an existing building or filling an out lot in a mall redevelopment.