The malls of the future will bring market trends on several fronts, driven by changes in the way people think and consume, especially the Millennial generation, which is rethinking the consumption of material goods and excessive spending.
That’s why malls need to reinvent themselves to meet today’s needs, which will remain in the future.
On top of that, people are no longer interested in visiting a dull place that’s only good for shopping and, every now and then, catching a movie. They want more! More entertainment, more interaction, more culture, more sustainability.
There is also a social concern about malls needing to be more accessible, no longer being a bubble that exists apart from the local population and culture.
So we put together this post with the main trends that the malls of the future should adopt to adapt to the needs of their visitors — no longer just consumers. Check it out!
Spaces with more flexible formats
In the future, the idea that malls are nothing more than places to shop will be reinvented. Spaces with flexible formats will be created, where people won’t be there merely as consumers, but as anyone looking for different personal experiences and social connection.
There will be investment in improving the digital environment and creating more personal services, expanding the range of options, such as art centers, concert halls, beauty salons, barbershops, gyms, and more.
Imagine a mall that runs fully on solar energy, reuses water, has more green areas than parking lots, and offers the perfect place for family and friends to get together, with a complete dining area. Well, that’s the ideal picture of the mall of the future!
The Guide Shop concept
Have you ever imagined shopping at the mall and, after trying on and choosing your products, having them delivered to your home? The Guide Shop will be a market trend, especially in apparel stores. It promises to revolutionize the shopping experience, bringing online stores into consumers’ daily routine, with the difference that they’ll be able to see and try on what they’re buying.
In a mall, where consumers have the chance to visit several stores in one place, the Guide Shop makes it easier for people to come and go, since they won’t need to carry their purchases around during their visit. Isn’t that amazing?
Buy online, pick up in store
Malls are losing ground to online stores because of high prices and an unappealing format. However, they can adopt a strategy that’s the opposite of the Guide Shop: physical stores can merge with e-commerce in a sales model in which customers choose products online and pick them up in store, saving time in their daily routine.
But you may be wondering: why would people choose to buy online and pick up the product at the mall instead of having it delivered to their home?
With a good marketing strategy and a revamped physical space, it’s possible to attract new customers to this sales model. That way, when picking up their product(s) in store, customers come into contact with other items in a distinctive physical space, increasing the chances that they’ll buy more.
Personalized service and connection with customers
As much as technology advances, the ideal isn’t for robots to start serving customers like in futuristic movies, because nothing compares to service provided by real people who are highly qualified to interact with consumers, right?
In the malls of the future, there will be a perfect balance between new technologies and qualified professionals, which is the best way to delight customers and reduce company costs. There are already digital tools that boost sales associates’ productivity and efficiency, giving them access to a computer or smartphone to help customers with any issue, which makes service processes much faster.
The combination of various technologies integrated into retail sales, such as the internet, artificial intelligence, and data analytics, will be used to optimize the consumer experience with customized service based on their interests and needs. Interactions between retailers and customers will be carefully studied to deliver the best customer service of all time.
Innovations will range from signage indicating Wi-Fi availability, keeping customers connected, to apps designed for mobile devices, especially smartphones, which are widely used by people today. They literally have the world in their hands.
Augmented reality software
Technology will be a great ally of the malls of the future. With software, it’s possible to maximize the consumer experience while shopping. Virtual storefronts, for example, let customers “try on” clothing by standing in front of a screen that shows the garment on their body.
There are many examples of companies already using augmented reality technology to improve the customer experience and build loyalty. Japanese makeup brand Shiseido, for example, offers its customers a digital mirror that applies products to their faces in the mirror’s “reflection,” making it easier for consumers to choose products. In addition, the digital mirror recommends ready-made makeup looks that match customers’ faces. Pretty innovative, right?
As we’ve seen in this post, traditional malls need to reinvent themselves to adapt to consumers’ digital and more conscious lifestyle. Even the US, where malls are a symbol of capitalism, is seeking to innovate in these spaces to keep its establishments from closing, as is already happening!
In Brazil, malls are operating with more than half of their stores vacant. The way for the country’s shopping centers to avoid closing is to enter the technological era and invest in new market trends.
If that’s what you want for your business, get in touch with Alice Wonders to learn how to create more engaging spaces for your customers and stand out in your industry!
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