A Revolution In Retail Centres

Published 07/02/2023 · Updated 07/02/2023

The old shopping centre, once a mainstay of suburbia, is being re-imagined to become a community unto itself and a cultural and economic draw across a region:

Even before the pandemic, converting retail centers to include new uses was a growing trend. Retail was already challenged by the emergence of online retailers, and according to U.S. figures, brick-and-mortar retailers lost over 15 per cent of their revenue to e-commerce in the first quarter of 2023 alone. This number is growing with no signs of stopping.

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What first made retail centers successful was their original planning. In a regional urban/suburban model, retail centers were planned approximately 32 to 40 kilometres apart as regional destinations designed to serve local communities by providing goods and services. In turn, retail centers benefited municipalities through job creation and sales tax generation. They have always been an engine for economics and culture, but as the dynamics of consumerism have changed, so too should the retail center.

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