In an era dominated by online retail, shopping malls have found innovative ways to not only survive but also thrive in the face of fierce competition. They have recognized the importance of creating immersive experiences that cannot be replicated online. By strategically combining a diverse range of retailers, interactive technologies, and entertainment options, shopping malls have transformed into vibrant hubs that offer more than just a transactional shopping experience. With the ability to try on clothes, touch and feel products, and seek personalized assistance, shoppers can indulge in a multisensory journey that online platforms simply cannot replicate. Moreover, shopping malls have evolved into community spaces, hosting events, pop-up shops, and live performances, fostering a sense of belonging and social interaction. By embracing the digital age and integrating technology, such as augmented reality and interactive displays, malls have successfully bridged the gap between the physical and digital worlds. In doing so, they have not only weathered the storm of online retail but are actively redefining the future of shopping by offering a unique and engaging experience that continues to draw customers back through their doors.
In a disclosure to the Philippine Stock Exchange back in February 2023, SM Prime Holdings Inc. said profits in 2022 soared to 30.1 billion Filipino Pesos as shopping mall revenues doubled. Even Jakarta is showing no signs of slowing down with at least nine shopping centres that are currently under construction and are expected to be completed by 2024. In total, these projects will add close to 460,000 sqm of new retail supply, with approximately 70% of the total to be built in the Greater Jakarta area. Kuala Lumpur’s new retail precinct, The Exchange TRX will become Southeast Asia’s 5th largest shopping mall when completed when it opens in Q4 2023. It’ll add more than 400 new stores, multiple dining precincts with over 100 outlets. It’ll also incorporate a 10-acre roof-top park featuring 150,000 plants to cater to the current demand of more public activated green spaces.
Join us at the 13th Annual Shopping Malls Summit and discover a world of opportunities as you connect with esteemed industry experts. This premier event will facilitate invaluable networking between local and international professionals who possess extensive knowledge in the dynamic realm of malls. Gain exclusive insights from companies that have successfully navigated the evolving landscape, equipping yourself with the tools needed to thrive in this ever-changing industry. Don’t miss out on this exceptional opportunity to forge meaningful connections and gain a competitive edge.