THE MODERN MALL

Global trends point to a reimagining of shopping centres as community hubs where people go for meaningful connections and experiences

- Chantal Sajan Senior Correspondent

Shopping malls around the world are quietly reinventing themselves. They are moving away from an unsustainable model of high rents and high yields per square foot to becoming "community living rooms", where people go for urban experiences and connections in havens, hangouts and hubs instead of just browsing merchandise.

These are corners of a mall where people of all age groups linger, talk and return to, such as a popup community kitchen sharing recipes by home chefs or a maker space that draws both teenagers and seniors.

Data from a 2024 report by global professional services group PwC says that by 2030, 60 per cent of shoppers will expect shopping to be more personalised and centred on experiences in a multi-sensory physical store, instead of being focused on merchandise they can easily buy online.

Shopify echoes this lifestyle shift in its 2024 retail report. The global e-commerce platform flags experiential retail and brands using popups in bricks-and-mortar stores to delight customers as mainstream strategies.

It says businesses are recognising the value of in-store shopping experiences and are crafting new ways to boost customer loyalty and generate foot traffic in competitive environments, instead of relying solely on traditional retail.

URBAN ANCHORS OF A COMMUNITY

These "third places" anchor residents to a neighbourhood, holding the promise of deeper engagement with the community at large, says Dr Samer Elhajjar, a senior lecturer in marketing at NUS Business School.

In urban design, the third place is a vital social setting outside of home (first place) and work (second place) where people gather informally, build community and foster a vibrant civic life. It is often public spaces such as cafes, libraries and plazas.