logo
Retailers having to redefine the purpose of malls

Retailers having to redefine the purpose of malls

Mail & Guardian19-07-2025
Shoppers are wanting more than a place to buy goods, they want an experience
In a period marked by economic restraint, cautious consumer sentiment and digital disruption, one might expect South Africa's physical retail spaces, particularly shopping centres, to contract or stagnate. Instead, a transformation is under way.
The traditional mall needs to be reimagined from a retail zone to an experience-led destination.
This evolution mirrors shifts seen in developed markets, where foot count alone is no longer the metric of success. Property managers are being measured on dwell time, emotional engagement and relevance to consumer lifestyles. And in a country grappling with high inflation, relevance is a critical currency.
Several global studies confirm what South African consumers are showing through their behaviour, that shopping is no longer the primary driver of mall visits. A 2023 report by PwC found that 59% of global consumers say they value experiences as much as products, and that number climbs in younger cohorts. The trend is echoed in how South Africans are choosing to spend their time in these places: they're showing up for culture, social interaction, curated events and community moments and not just convenience.
This behavioural shift is partly generational. Millennials and Gen Z are digital natives with easy access to online retail, yet they're also wanting physical connection and shared experiences.
It's also economic. In a tight market, consumers are being selective with how and where they spend their money and time. They are less likely to make incidental visits, and more likely to prioritise destinations that offer meaning and value beyond the sale.
The mall is no longer just a place to transact. Internationally, this shift has led to a rise in 'retailtainment', immersive exhibitions and experiential zones designed to draw footfall and create memory-making moments. In South Africa, leading property portfolios are adapting too.
Commercial property owners are recognising that retail is no longer about square meterage alone. The future belongs to those who can transform malls into destinations, places where customers don't just shop, but feel seen, inspired and connected.
Innovation in this context doesn't mean novelty for its own sake, it must be relevant and resonate with consumers.
What is interesting is the idea of intersecting fashion and emerging technology, using generative AI to reimagine iconic wardrobe pieces. Malls are creating family experiences, fusing live theatre into the mall environment, making entertaining children more affordable during the high-pressure holiday period.
Malls can also serve as community learning hubs. Liberty Promenade in Mitchells Plain is a good example of this. In a community that has significant problems because of socioeconomic hardships, substance abuse and inadequate support services, the mall's
Unmasking Strength
campaign earned a gold award in the CSI category at the recent Solal Awards in Warsaw, Poland for its innovative approach to supporting youth mental health, opening conversations and building resilience. This is a reminder that malls, especially in under-served areas, have a role to play as a form of civic centre, and not just as retail hubs.
A strategic shift from short-term sales-led activations to longer-term brand-building, storytelling and placemaking is required.
Malls are also becoming proof points in the debate about the future of brick-and-mortar retail. Far from being obsolete, physical spaces are finding new purpose, if managed with intent.
The data supports this. A study by CBRE showed that shoppers who take part in an experiential component spend up to 40% more per visit than those who don't. The implication is clear, experience is a revenue driver.
Importantly, many of the most successful initiatives are rooted in purpose rather than pure promotion. This is aligned with broader retail trends, where consumers increasingly reward brands that reflect their values. Deloitte's 2024 Global Consumer Pulse found that 57% of consumers are more loyal to brands that take a stand on social or environmental issues. Purpose-led initiatives such as
Unmasking Strength
show that retail spaces can host meaningful discourse, not just commerce.
For landlords, this means developing strategies that go beyond leasing and footfall metrics. But relevance will require intentional innovation.
Jonathan Sinden is the chief operations officer at Liberty Two Degrees.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

South Africa's richest men: How 7 tycoons built their fortunes
South Africa's richest men: How 7 tycoons built their fortunes

The South African

time2 hours ago

  • The South African

South Africa's richest men: How 7 tycoons built their fortunes

It's often said that making money is easy – when you already have some to begin with. In South Africa, a select group of businessmen has proven this adage true, using generational wealth, bold decisions, and smart investing to amass fortunes that stretch into the billions. From mining and media to finance and fashion, these seven South African billionaires have built and grown empires that span industries and continents. Collectively, they hold an astonishing $36.9 billion (R659 billion) in wealth, according to Forbes' real-time billionaire list. South Africa's wealthiest individuals highlight the power of compound wealth, strategic investing, and often, privileged starting points. While some leveraged family businesses, others capitalised on market shifts and global opportunities to build their empires. Though controversial to some, their financial influence is undeniable – not just in South Africa, but on the global stage. As the saying goes, 'the rich get richer.' And in this case, they're doing so with style, strategy, and staggering numbers. Meanwhile, in terms of the overall world list, South Africa-born Elon Musk remains the world's richest person with a reported $410.3 billion. Below, the list of the top seven richest South Africans in the world as of 28 July 2025. Rank Name Last week This week Source 197 Johann Rupert & family $14.5bn $13.5bn Luxury goods 279 Nicky Oppenheimer & family $10.5bn $10.4bn Diamonds 1 034 Koos Bekker $3.6bn $3.7bn Media, investments 1 166 Patrice Motsepe $3.3bn $3.4bn Mining 1 528 Michiel Le Roux $2.6bn $2.5bn Banking 2 052 Jannie Mouton & family $1.8bn $1.8bn Retail 2 207 Christo Wiese $1.7bn $1.6bn Financial services TOTAL $38bn $36.9bn Net Worth: $13.5 billion Industry: Luxury Goods, Finance At the top of the list is Johann Rupert, chair of Compagnie Financière Richemont, the Swiss luxury goods group behind brands like Cartier, Montblanc, and Dunhill. With significant holdings in financial services and investments, Rupert has masterfully expanded his wealth while maintaining a relatively low public profile. Net Worth: $10.4 billion Industry: Diamonds, Investment The former chairman of De Beers, Nicky Oppenheimer sold the family's 40% stake in the diamond giant to Anglo American for $5.1 billion in 2012. Since then, he has grown his fortune through private equity investments and conservation initiatives across Africa. Net Worth: $3.7 billion Industry: Media, Technology Known for turning Naspers into a global tech giant, Koos Bekker made headlines by investing early in China's Tencent. That decision alone brought in tens of billions for Naspers. Bekker's strategic leadership transformed the company from a local media firm into a global player. Net Worth: $3.4 billion Industry: Mining, Finance Patrice Motsepe made his fortune through African Rainbow Minerals, becoming South Africa's first black billionaire. A key figure in Black Economic Empowerment, he also holds a stake in financial services firm Sanlam and is a noted philanthropist and investor in sports. Net Worth: $2.5 billion Industry: Banking Founder of Capitec Bank, Michiel Le Roux revolutionised South Africa's banking landscape by creating a low-cost, accessible banking model. The bank's growth and profitability have made it a darling on the JSE and a consistent driver of Le Roux's wealth. Net Worth: $1.8 billion Industry: Investments The founder of PSG Group, Jannie Mouton earned the nickname 'Boere Buffett' for his savvy investment strategy. PSG has stakes in Capitec, Curro (education), and various agricultural and financial firms, making Mouton a quiet force in South African business. Net Worth: $1.6 billion Industry: Retail Despite setbacks with the collapse of Steinhoff, Christo Wiese remains a retail titan with interests in Shoprite and other ventures. Once South Africa's richest man, Wiese is rebuilding and diversifying his portfolio. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1 Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.

How BRICS is fostering dialogue and addressing global challenges
How BRICS is fostering dialogue and addressing global challenges

IOL News

time4 hours ago

  • IOL News

How BRICS is fostering dialogue and addressing global challenges

The Valdai Discussion Club, in partnership with the South African Institute of International Affairs, hosted the 3rd Russian-African Conference titled 'Realpolitik in a Divided World: Rethinking Russia-South Africa Ties in a Global and African Context' in Pretoria. Image: Oupa Mokoena / Independent Newspapers The role of BRICS in the world has been hailed as a positive force driving dialogue and creating strategic conditions for development, rather than opposing any particular nation, including the United States (US). This message was delivered at the Russia-Africa conference, co-hosted by the Valdai Discussion Club and the South African Institute of International Affairs in Pretoria. The conference, titled 'Realpolitik Responses in a Fractured World: Rethinking Russia-South Africa Ties in Global and African Context', brought together top government officials and academics to share their perspectives on 'G20 and BRICS: Assessing Strategic Roles in an Evolving Global Order'. Dmitry Birichevsky, director of the Department of Economic Cooperation at the Russian Ministry of Foreign Affairs, noted that the BRICS leadership cycle in the G20 has coincided with a strengthening of its economic positions. 'The mounting influence of BRICS has asserted itself as a centre for growth, innovation and one of the main pillars of a new and more just world order,' he said. He added that BRICS' principles of consensus, equality, and mutual consideration of each other's interests resonate with the growing number of countries in the Global South. Key issues on the BRICS agenda include making economic governance more democratic and bridging the digital and ecological divide between the Global North and the Global South. Birichevsky reiterated Russia's support for the South African presidency, saying it has predictably placed G20 emphasis on the African agenda amid the alarming development in the global economy. Philani Mthembu, executive director of the Institute for Global Dialogue, noted that the recent presidencies of BRICS and G20 have coincided with a rapidly shifting geopolitical landscape, which has heightened the focus on these forums. He stressed that the low level of participation or absence of the United States should not be the only thing on their radar. 'The participation of the US will not make or break South Africa's G20 presidency. The US must be seen in a broader context where the US is pursuing what it views as America first,' he said. Mthembu added that BRICS should aim to reform international institutions from within while also applying external pressure. Elena Maslova, associate professor at MGIMO University's Department of Integration Studies, recommended that BRICS delve into issues such as climate change. Image: Oupa Mokoena / Independent Newspapers Elena Maslova, associate professor at MGIMO University's Department of Integration Studies, suggested that BRICS should explore topics such as climate change, highlighting the declaration on climate finance as a significant step forward. 'BRICS is gradually becoming a key platform for climate dialogue as well. BRICS should strive to create its single space for climate finance implementation to make it possible to reduce emissions,' she said. Maslova emphasised that BRICS is not a confrontational tool, but rather a valuable platform for tackling global challenges. Nourhan ElSheikh, professor of International Relations at Cairo University, stated that the Global South's influence has surged over the past decade, largely due to BRICS and G20, which are driving forces behind the emerging new world order. 'The Global South matters a lot not only for competition among colonial powers but also as a global player in international politics,' she said. ElSheikh remarked that the Global South has matured to the point where it can identify its own interests, rather than automatically aligning with the US, which is still trying to maintain its global dominance. 'Now we have the Global South saying 'no' and that this is not in our favour or interest and we have the right to choose our way,' she said. [email protected]

Municipality's debt amnesty offer must be welcomed
Municipality's debt amnesty offer must be welcomed

The Herald

time5 hours ago

  • The Herald

Municipality's debt amnesty offer must be welcomed

In the past year alone, household municipal arrears in Nelson Mandela Bay have rocketed from R12bn to R16bn. Two-thirds of Nelson Mandela Bay ' s ratepayers are in arrears. Let that sink in. The new amnesty deal from the municipality is a quick fix. Nearly 70% of this debt is more than a year old. That is a bad sign as it shows this is a long-term problem. The city's debtors ' book stands at R18bn — just shy of the entire R21.58bn 2025/2026 budget. We are in a place where what is owed to the city almost equals what the city needs to run. That is another bad sign. This is why the municipality is offering to wipe out half of what residents and businesses owe — if they can scrape together the rest within a year. The municipality ' s new debt amnesty programme is a shot at recovery for households, businesses and the city itself. It is a bold and constructive step. It is a deal which acknowledges economic hardship while calling on residents and business owners to meet the city halfway. It is open to residential, business and registered NPO accounts. Applicants must pay 2.5% of the balance upfront and the rest must be cleared within 12 months, in monthly instalments. The process is clear, the terms are reasonable, and the September 30 deadline gives residents enough time to act. Budget and treasury political head Khanya Ngqisha said this was not a handout, but a one-off deal designed to help residents recover . 'The council resolution applies to everyone, whether it's a business or private household, if you are in arrears. 'Whether someone earns R100 or R1m, a person must just come and apply and they will be considered,' he said. This is not just a financial initiative. It is a political decision which puts people first while trying to steer the city back towards financial health. The Herald

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store