Deloitte report says shift needed from \u0027tired and broken model\u0027 of current food courts as shoppers find fewer reasons to go to the mall
“There absolutely are going to be malls that are not going to survive this,” Marty Weintraub, Deloitte’s national retail lead, said in an interview. “And they’re more likely to be in the smaller areas where they’re just truly operating like it’s 1995. Not every mall is coming into this pandemic world from the same starting point.”
“You need huge sales per square foot … They’re very expensive. You’ve got to air condition them. The taxes are extremely high and they take up an awful lot of space,” he told the Financial Post last week, explaining the decades-long shift in retail real estate toward open air shopping centres.Article content continuedSonshine said the top 20 malls in Canada, such as the Eaton Centre in Toronto and Pacific Mall in Vancouver, are the most likely to survive.
Malls have already started experimenting with new models to feed the masses, such as food halls that feature more local food merchants and restaurant groups, rather than national fast food chains.
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