Innovative diversification and mixed-use programming strategies are creating hybrid retail and entertainment development as traditional, anchor department stores continue to shutter locations and more shoppers take to the web. Many malls are already expanding programming in response to generational consumer trends—and are thriving. In the process, they’re exploring new technologies and incorporating different types of anchors to drive traffic, which is defining new paradigms for the future.
The mall experience once revolved almost exclusively around retail. Today, dining and entertainment have emerged as more than mere “add-on” attractions; enticing shoppers to engage in immersive experiences and experience all that a mixed-use environment offers. Food halls, creative menus at new concept restaurants, and virtual reality arcades are some of the scenes attracting Generation X and Millennials. While these groups may be more inclined to research online, shopping is still viewed as a social event, and they will frequent a mall to socialize around food and entertainment experiences.