Top-Tier Mall Operators Overcome Challenges Through Reinvention – Connect CRE

The COVID-19 pandemic was widely expected to finish off the shopping mall. It didn’t. Although indoor malls, open-air lifestyle centers and outlet malls continue to face real challenges, a new whitepaper from Placer.ai demonstrates how forward-thinking operators are overcoming them.

“While they may no longer play the central role they once did in Americans’ shopping routines, malls still serve as indoor community hubs where friends and family can come together for diverse food, shops, and entertainment options,” the whitepaper states. “This could explain why top-tier malls keep on coming back despite the seemingly constant obstacles.”

One secret to mall operators’ resilience is reinvention. Placer.ai cites the example of real estate investment firm Centennial, which operates many malls and mixed-use centers. In September 2020, as the pandemic continued to hang heavy over daily life, Centennial introduced a chain-wide omnichannel platform called Shop Now!. The app allows consumers…

Read Full Story: https://www.connectcre.com/stories/top-tier-mall-operators-overcome-challenges-through-reinvention/

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source: https://news.oneseocompany.com/2022/09/27/top-tier-mall-operators-overcome-challenges-through-reinvention-connect-cre_2022092731489.html

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