Malls Get Makeovers in Bid to Survive in Amazon Era

Mall owners are adapting to changing retail trends by transforming traditional department store spaces into experiential venues like restaurants and entertainment centers. This strategy aims to attract more visitors and increase spending in malls. The financial burden of redevelopment typically falls on the mall owners, who hope to see a return on investment through increased foot traffic and consumer purchases.

What is one of the main strategies mall owners are using to attract more visitors?

• Creating unique experiences like restaurants and entertainment

• Lowering rent prices for stores

• Introducing online shopping options

• Expanding parking facilities

Who typically bears the cost of redeveloping mall spaces?

• The mall owners

• The local government

• The previous store owners

• The new tenants

What is a key factor in the negotiation between mall owners and new tenants?

• The location of the mall

• The type of business the tenant operates

• The cost of redeveloping the space

• The number of employees the tenant has

What is the primary goal of mall owners when investing in new experiences?

• To attract more visitors and boost sales in other stores

• To reduce maintenance costs

• To increase the number of stores in the mall

• To compete with online shopping platforms

How do mall owners expect to recoup their investment in new experiences?

• By selling advertising space

• By reducing operational costs

• Through increased foot traffic and spending in the mall

• By increasing rent for existing stores