The results of 2020 were quite painful for shopping centers. According to published data from JLL, vacancy increased by 5.4% largely due to the departure of tenants from shopping centers with an outdated concept.
To change the situation and to return tenants without a fundamental restructuring of the shopping center is possible with local redevelopment and redesign. The "old" shopping centers have flaws in the organization of interior space, which lead to a decrease in traffic in the shopping center and, consequently, to a decrease in income and tenants leaving. Among the main things the expert calls "shallow" cutting, complex navigation, outdated and therefore unattractive design. However, the most important thing is the lack of "vertical" connections.
There are several ways that would increase the profitability of the existing shopping center without a major restructuring.
Redesigning the interior space
Narrow, insufficiently lit corridors, a "chaotic" set of small stores - all these are signs of an obsolete shopping center. Therefore it is worth to carry out redesign of the interior space with enlargement of the rented space and expansion of the corridors. This will make it possible to attract larger and more "status" tenants to the mall.
Vertical Connections
Often outdated shopping centers are planned exclusively "horizontally": visitors stroll mainly on one level, which they get to from the entrance. The lack of "vertical connections" in the building reduces the flow of visitors and the profitability of the space on the other floors. Such vertical connections within the mall can be formed, for example, by organizing through atriums which will be clearly visible from different points in the building.
Modern design
There are also fashions in space design. Design that has lost its relevance can also be a negative factor for the shopping center. A clear functional zoning of the shopping center, the creation of modern navigation, the formation of a design code for store decoration, original lighting solutions - all this will "modernize" the project, make its visit more productive and enjoyable for the customer. Thus, all this will increase the average time spent in the mall, which will also have a positive impact on the commercial success.
Modernizing the entry points
Modern shopping centers usually have spacious, well-designed entrances that are clearly visible from the street. This makes it possible to attract spontaneous visitors to the mall.
The installation of wide entrances and beautiful entrances will also help to modernize the old shopping center and generate additional traffic.
Recreational area around the mall
Creating a recreational area in front of the entrance to the mall, even a small one, will make the object a center of attraction for the district's residents. And it will also give additional traffic due to spontaneous visitors.
New features in the mall
Today, shopping centers are becoming centers of neighborhood life. In addition to the retail and entertainment part, a mall can accommodate event venues, city and municipal organizations, attracting an additional target audience that is difficult to attract with other functions.