Experiential shopping has skyrocketed to the top of Retail’s 2019 priorities. While building managers are continuing to lean away from big-box stores and focusing on creating “micro-destinations” for mall visitors, a new model has risen. We are seeing an increasing number of commercial spaces adopting a Food, Fitness, and Entertainment centric model.
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Whether it’s a food hall, space for food trucks outside, or strategically placing restaurants throughout the mall, building managers have begun to see the value in planning out culinary destinations along the buyer journey. Food has long been a reason for people to come together, and locations like the ones above have proven themselves as places where people like to meet and socialize. Food plays a major role in the newest commercial business models, because it gives foot traffic a significant boost, and encourages visitors to walk past retail locations on the way to their next meal – providing critical face time for stores that may have otherwise gone unnoticed.
Another way that commercial planners are incorporating new age ideas into existing retail structures is the advent of fitness venues. Historically, gyms and workout spaces haven’t been considered for use around average storefronts. What we’re seeing, however, is that shoppers are relying on one-stop lifestyle hubs, where they can get their workout in, and conveniently do some shopping during the same trip. Adding fitness to the mix allows for building managers to capture a greater share of their visitors’ time, which correlates to higher sales volume overall.
Ever since movie theaters were added to our nation’s malls, we’ve seen the benefits of having commercial space dedicated to entertainment. In addition to higher overall foot traffic, entertainment gives building managers the opportunity to keep potential shoppers at a location for longer than they would have otherwise. In the new Food, Fitness, and Entertainment model, we have observed an expansion of this concept to include new offerings like escape rooms, arcades, and other means for delighting visitors. The idea here is to make the mall become more than a shopping-only venue, and provide added value to patrons who choose to take their business to brick and mortar stores over e-commerce competitors.
As a retailer, what are your thoughts on the new Food, Fitness, and Entertainment model? A strong technology infrastructure may be exactly what you need to capitalize on the increased foot traffic around your store. If you’re interested in learning how to keep your own brick-and-mortar location up with the newest trends, we encourage you to connect with us through the Calendly scheduler that is in the upper right-hand corner of this page, or contact us here.