During the peak of the health crisis, shopping malls were severely impacted by temporary closures and operational restrictions. Faced with this scenario, many retailers and administrators recognized the need to adapt to survive the crisis. After all, changes in consumer behavior were driven by new habits and purchasing preferences, demanding quick and creative responses from the sector.

One of the main transformations observed in malls, which is gaining increasing traction, is the diversification of services offered. In addition to traditional retail stores, it is now common to find larger spaces dedicated to gastronomy, entertainment, well-being, and services. Renowned restaurants, themed cafeterias, state-of-the-art cinemas, and spaces for physical activities are some of the options attracting visitors.

Malls have also invested in coexistence and leisure spaces, offering outdoor areas, gardens, varied food courts, and pleasant environments for relaxation. This new approach aims to attract not only customers seeking to make purchases but also those looking for social and cultural experiences in a safe and inviting environment.

Another aspect that gained prominence after the pandemic was the implementation of technologies to enhance customer agility and comfort. Many malls started adopting apps and digital platforms to offer services such as online orders, delivery, restaurant table reservations, and event tickets.

Aware that the pandemic accelerated the adoption of digital habits by consumers, these commercial assets are increasingly integrating the physical and virtual worlds. A more hybrid immersion, allowing customers to interact both in physical stores and digital environments, is one of the trends gaining strength in this new scenario. For instance, during the pandemic, Shopping Vila Olímpia in São Paulo provided parking spaces for vaccination. While the surrounding offices were empty due to social isolation, the shopping center experienced quieter days.

However, with the return to in-person work, the food court once again saw a scramble for seats during lunchtime, and store traffic returned to pre-pandemic levels. Technology also optimizes the customer experience using artificial intelligence, augmented reality, and other solutions to personalize service and facilitate navigation through the corridors.

An example of this is the immersive exhibition "The Splinters of the Renaissance”, which gathers over 60 works by Renaissance artists Leonardo Da Vinci and Michelangelo. The exhibit uses virtual reality glasses, sound effects, projections, and olfactory stimuli to provide the audience with a sensory and immersive experience.

As a result, shopping centers have become protagonists of a true transformation, evolving into not only malls destinations but also spaces for coexistence, entertainment, experiences, and even work. Many of the latest mall developments now include dedicated coworking spaces. In August 2022, Regus officially launched its first unit in Goiânia, located within a shopping mall, at Shopping Flamboyant.

The diversification of service offerings, the adoption of innovative technologies, and a commitment to safety have been the pillars of this reinvention process, aiming to meet the new expectations of consumers in a post-pandemic world.

Monitoring Malls through GROCS

GROCS, a product of SiiLA, is a widely employed universal metric by investors and retailers for malls, playing a crucial role in analyzing the percentage of sales in stores relative to occupancy costs of the space.

Through this tool, investors can focus on increasing their returns by thoroughly assessing Occupancy Costs, Rent, Sales, and Vacancy in various categories of retail stores. This analytical approach allows for a comprehensive view of the operational and financial efficiency of the properties, contributing to strategic decision-making and continuous improvement of performance in commercial centers.

Check out the mapped assets in São Paulo, Rio de Janeiro, and five other regions of Brazil (South, Southeast, Midwest, North, and Northeast). Click here to learn more about our solution.