Wednesday, March 27, 2013

Future Malls Must Attract Shoppers With Other Goals Than Shopping

Rotunda at Sherman Oaks Galleria, Hunter Communications photo
Hunter Communications recommended reading from:

Link to article:
Malls Must Move Beyond Shopping to Survive in Internet Age

Ok, it's ANOTHER news service speculating on what shopping malls will have to do to survive in a future when the internet makes online shopping simple, unlimited and irresistible. Reuters finds that a new worldwide trend is to locate medical and government offices in shopping malls, so that patients and office visitors can make good use of their wait by shopping as an enjoyable time-filler.

Excerpt: "'The days of the stand-alone mall are numbered,' said David Roberts, the chief executive of architect Aedas, one of the five largest practices in the world. The company has been involved in city masterplan projects in Asia, Europe and the Middle East.

'In 20 years time you will find stores that sell books and DVDs replaced by sites that give people a reason to go the mall ... art galleries, education centers and health and spa treatments.'

Florencio Beccar, fund manager of CBRE Global Investors European shopping centre fund, cited the recent purchase of a mall in Germany, saying the fact it included a large medical centre was 'a big plus'.

'I once saw a clinic in a Brazilian mall where you checked in and are buzzed on a device when they are ready. In the meantime you go shopping,' he said. 'With the ageing population in Europe you can see that happening more and more.'

CBRE Investors, which has about 14 billion euros ($18.2 billion) of retail property under management in Europe and 5,000 tenants, also owns a mall in southern Sweden with a library and a local municipal office, he said.

'More shopping centre developers will have early talks with these sorts of tenants as well as the big anchor retailers,' Beccar said.

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