One of Westfield’s key strategies is to shift the focus from fashion and offer more entertainment and dining options as well as experiences.
“We have been ahead of the pack in terms of changing the retail mix,” Tritant said, adding that 70% of the new leases signed in 2018 were non-fashion concepts and more than 53% of its malls now have health and fitness services.
“We are changing the retail mix so there is much more in connection with the things that millennials are looking for,” he said.
This means scaling back on fashion and shifting the balance.
Experiences, such as concerts or pop-ups, also help to drive traffic to the mall and target more consumers.