Malls Are Changing, but Not Necessarily Shrinking

Earlier this week, a New York City based company opened the doors to a new kind of shopping mall experience. HiO is a new concept by Direct Brands Group, an international business and e-commerce intermediary helping foreign brands enter the US market.

The mini retail conglomerate, located inside of the City Point shopping complex in the heart of Brooklyn, is home to nine different international brands. Many of these are doing business stateside for the first time.

Consumers have access to products ranging from makeup to embroidered handbags and even soap and fragrances. HiO is a greater reflection of the current struggles many international businesses have setting up brick and mortar shops in the United States following waves of big-name store closures and bankruptcies.

Now, as with HiO, many other businesses and commercial real estate investors are seeking to find new, creative ways to attract consumers away from their homes and back into the shopping mall. While the number of shopping malls has grown marginally over the last decade, global financial services giant Credit Suisse released a grim forecast on the future of America’s malls.

According to the report, up to 25 percent of shopping malls across the country will shut their doors by 2025. To combat this, industry experts are focusing more on the experience than on the accessibility.

Consumer Engagement Spaces, or CESs, is one of the latest ways the retail industry is rebranding itself. Rather than focus specifically on retailers and food services, these CESs are seeking to change the way, and reason, people in 2018 go out to the mall.

Destination centers have become a particularly successful innovation. These centers are marketed as not just a place to shop and unwind, but as viable weekend getaways with attractions like theme parks, museums, live music, and even indoor ski slopes.

The Mall of America is a famous example of these centers. These super-sized versions of shopping malls are the antithesis of Hio’s design, but remain a popular tourist and leisure destination. Similar centers are currently being built in Miami and New Jersey, and although the sheer size of these complexes limit the construction of more throughout the US, they provide a new hope for business owners that the future of the American shopping mall might remain a popular and prosperous one.

Follow us on social media for the latest updates in B2B!

Image

Latest

access control
Redefining Access Control: Mobile Credentials Integrate Security, Privacy, and IT Seamlessly
April 15, 2024

As businesses increasingly lean on technology to enhance security and operational efficiency, the topic of access control has surged to the forefront. This rise is particularly driven by advancements in mobile credential technology—a shift from traditional physical credentials to digital solutions hosted on personal devices like smartphones. The growing ubiquity of smartphones and heightened […]

Read More
brick-and-mortar store resurgence
Unique In-Store Experiences Are Driving a Brick-And-Mortar Retail Resurgence
April 15, 2024

What’s behind the recent brick-and-mortar store resurgence? Could it be that big box stores recognize the one-of-a-kind shopping experiences that can occur in person? Finding unique ways to capitalize on those in-store experiences may lead to a brighter future for retail. Big box stores are reasserting the importance of their physical presence, continuing to […]

Read More
Enhancing Law Enforcement Training for K-12 Security Incidents
Enhancing Law Enforcement Training for K-12 Security Incidents
April 15, 2024

In a recent discussion on Secured with hosts Mike Matranga and Mike Monsive, the conversation delved into the intricacies of school security measures and the necessity of prioritizing comprehensive safety protocols over singular technological solutions. Highlighting the case of Utah’s mandate for gun detection systems in schools, the hosts emphasized the importance of holistic […]

Read More
Icom here, there, and everywhere
Where is Icom? Here, There, and Everywhere at the Miami Boat Show 2024
April 15, 2024

Icom was here, there, and everywhere at the Miami Boat Show. Master 500 GT Captain Kelly Gordon played tour guide at the Miami Boat Show 2024, where she showcased the ubiquitous presence of Icom radios at the event. Kelly toured a dazzling array of boats, from sleek yachts to robust convertibles like the Viking […]

Read More