Malls struggle to survive by introducing new experiences and activities
- Malls in Long Island are transitioning to experiential services to combat high vacancy rates.
- Gravity Vault, a rock climbing gym, is a prime example of a successful adaptation to attract customers.
- Experts warn that without these changes, many large malls may be forced to close in the next decade.
In the United States, specifically Long Island, some malls are evolving to meet the changing preferences of consumers. As the nationwide mall vacancy rate surpasses the overall retail vacancy rate by 110%, mall owners recognize the need for transformation. The Samanea Mall in Westbury has repurposed its former food court into Gravity Vault, a popular rock climbing gym, which has attracted significant foot traffic since its opening three months ago. This shift toward experiential services is becoming a trend, with vacant stores being converted into pickleball courts, adventure parks, virtual golf facilities, and new dining options. Daniel Stiglitz, a technology teacher at Merrick Avenue Middle School, highlighted the benefits of such adaptive reuse by taking his students to the Gravity Vault, emphasizing its uniqueness in vertical space. Liam Bello, the assistant general manager of Gravity Vault, stated that the gym has been a hotspot for visitors since its inception. This reflects a larger strategy among malls to create environments that encourage people not just to shop, but to engage in diverse activities, thereby increasing foot traffic. Moreover, other malls like Smith Haven Mall in Lake Grove are also making significant investments to revitalize their premises. With millions of dollars allocated for renovations, the focus is on integrating more stores and creating appealing areas such as outdoor plazas. Steve Shea, an executive at the Simon Property Group, expressed that these renovations aim to transform malls into social hubs where customers can create lasting memories, far beyond merely shopping. Despite these initiatives, research by Capital One predicts that as much as 87% of large malls may face closure within the next decade if they do not adapt to this new model. The transformation within malls is seen not only as a response to market pressures but also as a necessity to stay relevant in an ever-evolving retail landscape. Experts argue that for these malls to thrive, they must enhance the consumer experience by offering diverse activities and memorable engagements, encouraging visitors to spend more time in these retail spaces.