Despite strong retail sales growth in 2017, the retail real estate market continues to face challenges that are expected to intensify. Mall occupancy rates are declining globally as e-commerce continues to dominate.
Filling these retail vacancies is becoming increasingly difficult, as a report from Green Street Advisors' Advisory & Consulting group suggests. While new retailers are emerging, they are more selective about locations and opening stores at a much slower pace than before.
Malls are at a crossroads. The traditional mall business model is becoming obsolete, and transforming old malls into modern, relevant spaces requires substantial investment, creativity, and careful planning. At Arcadian Consultancy, we can help navigate this transformation and create innovative retail environments that adapt to evolving market demands.