[exanimo_sai]

This is not really the next phase - retail has been on a downward trajectory since the first online sale was made. The spiral down just buffered by a global economy that was growing.

Working with Westfield back in 2008 there was talks already of redesigning mall footprints to have smaller stores that can act as pop-up shops/ collection points etc. However there was an overall equilibrium achieved as malls started playing into the idea that their differentiation was on "experience".

Shopping and going to the mall remains a highly social activity. And I believe will survive well past the pandemic. And perhaps stores will be smaller individually and act as both in-store sales, collection points for online purchases and pop-up stores to market new products.

[2sk21]

I think malls might be sustainable with just clothing and restaurants (and the Apple Store).