New Straits Times - - NEWS / SOCIAL MEDIA -

At the just con­cluded 11th Malaysian Prop­erty Sum­mit, an in­ter­est­ing talk was on the state of re­tail space in the coun­try. As many as 27 new malls are ex­pected to en­ter the mar­ket in Greater Kuala Lumpur (GKL). In the next three years, it is es­ti­mated that the GKL area will have 197 malls in to­tal. The re­tail mar­ket would con­tinue to be chal­leng­ing as new malls not only have to com­pete with other, more-es­tab­lished malls, they also must com­pete for rel­a­tively the same pool of po­ten­tial cus­tomers. Are malls los­ing their appeal, with the ever-grow­ing pop­u­lar­ity of on­line shop­ping? What do you think?

We still need phys­i­cal shops be­cause the ma­jor­ity of con­sumers still pre­fer to be able to see and as­sess ac­tual prod­ucts, even if they end up or­der­ing the prod­ucts on­line later.


With the va­ri­ety of mer­chan­dise avail­able on­line, it will be tough for malls to com­pete.


Malls still have a place in our so­ci­ety. Peo­ple may not head to the malls strictly to buy things, but for din­ing and en­ter­tain­ment.

It’s hard to find an al­ter­na­tive where you get both, and with so many choices to choose from, all un­der one roof.


The US and Europe are in the same shape. Re­tail­ers are clos­ing phys­i­cal stores in favour of on­line re­tail in­stead, which is cheaper to op­er­ate and able to reach a wider au­di­ence. Sin­ga­pore, how­ever, is dif­fer­ent. Prob­a­bly be­cause Asians love go­ing to malls even if only for the air­con­di­tion­ing or to win­dow shop. I feel that the sit­u­a­tion in Malaysia is sim­i­lar. Malls that cater to both high-end con­sumers and the masses will sur­vive. So too will malls that of­fer ev­ery­thing un­der one roof, from shop­ping to din­ing to en­ter­tain­ment and other recre­ational ex­pe­ri­ences. The bot­tom­line is, malls need to con­stantly in­no­vate to keep up their appeal and at­tract con­sumers who will not just walk in, but hope­fully spend their money there too.


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