Malls are Reinventing Themselves

posted by Paul James - 

Thanks to online shopping, more and more people are skipping the malls, but the complexes aren’t giving up so fast. Malls across the country are looking for new ways to lure customers back into their stores, and they’re doing that with entertainment and experiential businesses.

Gym and fitness seem to be a big area of focus for some malls. A Westfield mall in Topanga, California has added YogaWorks, Total Woman Gym + Spa, as well as Kate Hudson’s Fabletics, which has resulted in a 3.6% increase in traffic. Other types of new mall additions include Goveworx boxing studio in Westfield’s Century City location, which also features an Equinox gym, SoulCylcle, and even the upscale food market, Eataly.

“We have a serious commitment to this category of fitness,” Westfield’s David Ruddick, executive vice president of leasing, tells the "New York Post." “It’s everything from the fitness studio to the shake you have afterwards.”

Malls are also amping up their dining options, since people are spending more money on restaurants than on things like apparel and electronics. Punch Bowl Social, a nine-store restaurant chain that features bowling, table tennis, pool, arcade games and karaoke, is one type of chain malls are very interested in. They are expected to expand their footprint over the next two years, and is particularly popular among malls, since it usually takes up a good portion of the property.

Source: New York Post

Paul James

Paul James

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