For quite some time, the shopping mall was on a death bed. Its demise was expected to happen no later than next year. Every year.
But last time we checked, shopping malls are still with us, and over the holiday season they made some good money from the gift-shopping crowd. For example, visits to indoor malls on Super Saturday (the last Saturday before Christmas, which fell on Dec. 21 in 2024) increased a whopping 177.1% compared to 2024’s year-to-date daily average.
What makes this especially interesting is that this shopping frenzy was driven by the Gen Z customers, who - as we are told by expert marketologists – discarded the outdated notion of in person shopping for the comforts of ecommerce.
In battle with reality, the score is: marketologists - 0, reality - 1.
The retailers, being on the side of reality, are elated and do all they can to catch this wave of success. They try to expand the old “warehouse of stores + food court” model with destination spaces, where luxury retail is supported by entertainment, with physical-digital immersive experiences, sporting activities, in addition to “pop-up” branded experiences.
Just to make sure they don’t jinx the freshly acquired success, shopping mall operators even ditch the word “mall” and go for novel soundbites, like “lifestyle centers” or “experience hubs”.
This trend will continue, especially among the higher-tier malls – er, “hubs”, until the next fad will push the retail industry in another direction.
But this will be later. Maybe in a few years. For now, all hail Gen Z!
As we know, retail demographic analysis still rules the game of retail site selection. For assistance with selecting and retaining the optimal tenants, compatible with your local target audience, and delivering to your “hub” a stable flow of customers, contact Ticon.
