Shopping Malls are being transformed by a demand for social experience

SAN JOSE, CA, “The new generation is taking the concept of shopping to the next level by demanding a holistic experience that combines the opportunity for shopping, living and leisure and socially interactive experiences”, according to Muhammed A. Chaudhry , General Partner at DJM Capital Partners.

Gone are the days when shopping malls were typically located in the suburbs and surrounded by parking lots.

A new generation of fashion-conscious, lifestyle-loving shoppers is creating a demand for an alternative shopping experience. The latest evolution in the shopping mall is the infusion of smaller shop fronts, supported by e-commerce solutions and containing a mix of residential quarters, leisure facilities and food and beverage outlets. Investors and owners are looking beyond conventional development sites and becoming increasingly creative in their new-wave shopping mall designs. For example, in the US, home of the original shopping mall, an ageing 1960s vintage indoor mall in Huntington Beach has been transformed into an open-air Tuscan-inspired town centre.

The developers DJM Capital Partners and PGIM undertook the project as part of a plan to convert dysfunctional unused buildings into usable spaces that bolster the economy and offer more choice and convenience for consumers.

“Some of the conversions involve rethinking the concept of malls in an era when younger Millennials and Generation Z members seem increasingly disinclined to drive. To sustain a mall into the next generation, it should be embedded in a mix of activated, walkable uses, including residential,” explains Mr Chaudhry .

DJM’s vision for future shopping malls includes densifying the perimeter with entertainment, office space, and multifamily housing to expand foot traffic, especially within the retail sphere.

“The traditional shopping experience will never be copied. Now as we rise to meet the demand for future shopping experiences, we are reimaging how consumers can enjoy a shopping experience that supports their living, lifestyle and social choices”, added Chaudhry.

As a shopper’s paradise, Dubai is home to some of the most prolific shopping malls in the world. In 2021, the area of shopping malls in Dubai reached 5.4 million square metres.

The Post Shopping Malls are being transformed by a demand for social experience first appeared on ZEX PR Wire

Information contained on this page is provided by an independent third-party content provider. Binary News Network and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact [email protected]

Related posts

Achieving the Growth against the Trend in the First Quarter, OMODA Stands out with Strength

Binary News Network

Hillside Lawn and Landscape Becomes One Of The Most Rated Lawn Mowing Companies In Fortville, IN

Binary News Network

Smart Doge – A Token Smarter Than You, Is Here

Binary News Network

Carvajal A/C Mechanical Corp Has Been Offering AC Installation Services in the Miami, FL Area Since 1999

Binary News Network

RiskSwap – a central limit order book DEX designed for limited risk futures and options trading

Binary News Network

Hummingbird growth and automation Selected as the #1 linked in automation tool for financial advisors

Binary News Network