What’s Next for Mall Shopping Centers?
Posted June 1, 2021
The summer is heating up! And experts are already predicting new shopping trends and behaviors we can expect to see, as we find ourselves on the other side of the pandemic.
So, what’s next for retail shopping?
New Trends in the Retail Industry
According to Forbes and other business experts, leisure is the new hot commodity this year. What do we mean by leisure? We’re not just talking about basking in the sun on a hammock all afternoon.
We mean freedom from work…freedom from virtual meetings…and freedom from the many responsibilities awaiting customers at home.
Leisure means having the opportunity to enjoy new sights, sounds, and experiences. And at Rosedale Center, we couldn’t be more ready for this new trend. Actually, our focus has always been about creating experiences for guests to not just shop for their favorite brands but to also relax and “stay a while” when they arrive.
“Rosedale has always provided a unique space for locals, visitors, and newcomers to the Twin Cities,” said Senior General Manager, Lisa Crain. “Guests visit us to socialize, be entertained, and discover exciting, new experiences they can’t find anywhere else.”
Lisa is correct. In fact, back in 2018, JLL referred to this as a shift from traditional malls to lifestyle centers with a strong community vibe, and that’s exactly what you’ll find at Rosedale.
Other Mall Trends to Keep an Eye On
In addition to incorporating leisure/hospitality experiences that customers are looking for, a few other popular trends to emerge in 2021 include:
Contactless Technology & Curbside
Check out our article on the impacts of COVID-19 on retail, and why they’re not as bad as you think for more details on this trend.
Ethical, Value-Based Branding
We also wrote an article on the benefits of value-based branding, but here’s a few more facts to back up this claim. Did you know that 71% of customers said they prefer to buy from brands that align with their values (Tintuit) and that 40% admit they’ll pay more for a brand they like, even if there is a cheaper option available (Yotpo)?
During the shopper’s journey, the difference between in-store and online shopping becomes less distinct. This means your customers may begin searching for your products on your website but it’s not uncommon for them to then venture into your brick-and-mortar store to test your product before making a final purchase.
We published an article on the importance of omnichannel experiences, but one fact remains clear: though the pandemic kept many shoppers online, 61% of shoppers admitted they still rely on physical stores, and over 70% still felt safe shopping in stores during the holiday seasons (Finances Online). Remember, this was before the vaccine rollout, which means the majority of customers still value and “want” an in-store shopping experience.
For companies maintaining physical locations, it’ll be key to distinguish themselves from online retailers by providing unique in-store experiences… [T]hey have the opportunity to provide value by strengthening customers’ relationship to the brand. Immersive, Instagrammable experiences, aka “retailtainment,” can bring the brand alive in a way that digital means can’t .Tintuit
At Rosedale, you’ll discover we have it all. And that means diverse restaurant options, popular retailers, small businesses with value-based branding, and much more. We also host a variety of one-of-a-kind experiences, including fashion shows, art exhibits, potlucks, and even an underwater exploration.
In this way, our shopping center represents more of a neighborhood destination: a neighborhood that just so happens to be centrally located between the Twin Cities of Minnespolis and Saint Paul. And that’s exactly why it can benefit your business!
Ready for Business at Rosedale?
If you’re looking to lease a business space, Rosedale has an ideal location for you! We offer a variety of flexible options and pricing, including short-term, seasonal, and long-term leases. To learn more about our exciting leasing options, and how we can help you reach more customers, contact our team today!
To get started, you can contact me by phone at 651.260.3545, or send me an email at Holly.Rome@am.jll.com, and I’d be happy to help you get the process started!
You can also fill out our online form to learn more about our specialty leasing options and tell us more about your business.