11th Annual Shopping Malls Summit | 25th - 26th May 2022 | JW Marriott Hotel Kuala Lumpur, Malaysia

OVERVIEW

Amidst all the doom and gloom predictions for malls, there is a contrarian view. Once this pandemic burns itself out – and it surely will – the future for malls is exceptionally bright. The remaining good malls will get better and the best malls will get even better yet. In fact, Covid-19 is actually forcing innovation onto what has, until now, been a change-averse business model. Its time that Mall owners view their assets in a dynamic and forever changing format.

People will return to malls not to release pent-up demand for the consumer goods they sell. Online Retailers, and other e-commerce and essential retailers have filled that need throughout the mall closures. The pent-up demand that malls will fill after the pandemic will be giving people things to do besides shopping. That is what they will really crave.

This pandemic has pushed new digital habits onto even the last consumer adopters. However brick and mortar is critical to making ecommerce profitable. Large retailers such as Target and Walmart have figured out how to blend physical and digital to maximize profit. Shopping malls are well-positioned to become that centralized operating system for smaller retailers to leverage these operational and financial gains. Creating a flexible range of services, spaces, leases and more will help malls regain community relevance and become profitable.