Is it possible that the modern lifestyle destination will drop the four-letter word M.A.L.L. as it reinvents itself as a mixed-use project? These spaces are now featuring food, hospitality, entertainment and other experiential asset-growth segments which expand beyond the four-letter word, mall. As advisors to the retail industry, we are witnessing a number of important changes in the sector. Here are our top 10 changes shaping the way these developments are created.
At the inception, a shopping mall was a simply structured space that provided a one-stop-shop for household commodities and other retail items. Today, the function, design and overall purpose of the shopping mall as vastly changed. Walk through the evolution of the shopping mall, from what it has been to what it is now and what it will be in the future.
Tapping into the customer’s need for experience is a relevant part of all retail and luckily for the food and hospitality industry, giving that to them is not difficult to do with dining and eating being an experience in itself. However, as the industry grows and businesses continue to compete for customer spend it is important that developers and retail masterplanners continually develop the experience they are offering to continue enticing the customer and fulfil their want to spend on more than just a sandwich wrapped in paper. Here are just four simple ways in which food precincts and operators within developments around the world are delivering on an experiential level.
Our ‘Food in Focus’ series introduces you to some of the team’s favourite foodie spots both in our hometown of Melbourne and around the globe. These are the spots that we love for their offer, their hospitality and the memorable experience that comes with it. This week, one of Melbourne's latest hotspots, Abacus Bar & Kitchen which is hitting all the sweet spots for an elevated food and hospitality business.