Check out what malls are doing these days to attract shoppers
One is going the extra mile by adding sports facilities.
The retail environment continues to be challenging with consumer confidence in Singapore diving to its lowest since June 2009, according to the Mastercard Index of Consumer Confidence for 1H2016.
To stay competitive amidst the difficult environment, Cushman & Wakefield (C&W) notes that landlords are taking a more proactive approach to engage and excite shoppers by promoting lifestyle retail.
For example, Cathay Cineleisure Orchard introduced a 24,000-sf indoor trampoline park.
The new Funan mall, which is likely to complete by end-2019, will feature a rock climbing facility and an indoor cycling path, among other sports facilities.
The upcoming OUE Downtown, expected to complete early next year, will bring in a 4,000-sf social kitchen and an auto deli area where lockers and a casual dining area are available for use to enhance customer’s experience.
Other malls, it said, are undergoing rejuvenation include Parkmall and Century Square.
Parkmall shut its doors in last month to make way for redevelopment.
Century Square is expected to undergo Asset Enhancement Initiative (AEI) next year.
Sengkang’s Compass One, the only completion in the quarter, officially opened in September 2016. With a net lettable area of 272,881-sf, Compass One is expected to enjoy strong footfall from the steady population growth in the neighborhood