The New York Times has recently informed that brick-and-mortar retail was in the midst of seismic changes even before the pandemic. Analysts say as much as a quarter of America’s malls may close in the next five years.
Today, a trip to a shopping center is no longer just shopping, gradually turning into a way of spending leisure time. This means that shops alone are no longer enough. The entertainment component is a very desirable attribute of a successful shopping center, and most of the projects under construction are already positioned not just as "shopping", but as shopping and entertainment. Is there a chance for a place in this emerging market?
Entertainment zones not only bring new customers to the shopping center, but also increase the time spent by visitors in it, which, in turn, increases the average value of a check. As a result, this affects the level of sales of other tenants, which can pay high rent and ensure the profitability of the shopping center.