Jan 23, 2016
China is building malls of the future that could come to the US soon
Posted by Shailesh Prasad in categories: business, futurism
High-end, futuristic malls in China and parts of the US are upgrading technology, hoping to attract customers with “smart” shopping centers.
“In the US, the malls look exactly the same they did 20 year ago,” Deborah Weinswig, executive director at Fung Business Intelligence Centre, said recently in a talk at a JDA Executive Luncheon. “We’ve got to make it more exciting, and more fun, and more experiential.”
Changing consumer tastes and the rise of e-commerce means shoppers are visiting malls less and less, with Weinswig reporting that the average American now visits a mall three to four times a year, as opposed to five to six. To compete with online shopping, malls need to match e-commerce in convenience and create experiential reasons to visit the mall that you cannot find online.