Malls have always needed to prioritize the health and well-being of occupants and shoppers. Now they are looking at technologies to enhance shopper experience while providing those assurances. PropTech is being adopted on a rapid scale to support both the reopening and the recovery of malls as well as the continued expansion of retail and how landlords can support this.
Reopening and rapid recovery
Whilst there are many challenges with the reopening of malls, it’s clear that successful operations and communication are the two main factors to which PropTech can add significant value. Real Estate Companies, such as Sweden-based AMF Fastigheter and Global property management giant Savills, have invested in tools such as Mallcomm, enabling them to focus on building a connected community within the environment to ensure everyone is aware of what they need to do, when they need to do it and who to ask if they need support. New developments such as Mall of Netherlands are ensuring they use PropTech to mitigate risk by using digital auditing features and constantly analyzing the data to assess areas for improvement.
Data analysis has never been so significantly important as it is now and the ability to track, review, and improve has been made even more possible via technology platforms such as Mallcomm. The data that is generated is helping hundreds of properties across the globe provide insight into the performance and safety of their destinations.
Supporting the expansion of retail
PropTech is also being adopted to tackle the surge in e-commerce platforms during the pandemic. Landlords are investing in fulfillment platforms and logistics tools as delivery becomes very important.
Connecting the shoppers to the tenants has never been easier using technology. New developments such as Elektrownia Powisle in Warsaw are using Mallcomm to bring shoppers and tenants closer together. They also enable retailers to provide customers with flexibility and convenience while ensuring that the in-store experience matches what they are experiencing online by introducing touchless car parking and food ordering to reduce queues and menu browsing.
Technology to support initiatives that make customers and tenants feel safe and informed are going to be important in the foreseeable future and those that are fastest to adapt their strategies will be the most successful in recovery.