Mall Operator CEO: Shopping Malls Have To Act More Like Tech Companies
Westfield Corp co-CEO Steven Lowy says shopping centers need to adapt and start acting more like tech companies to turn around plummeting retail sales.
Westfield is one of the world’s largest mall operators—it operates 34 shopping centers in key cities like NYC and London. While Lowy acknowledges the huge impact Amazon is having on retail, he is convinced the online king can’t do all things, especially create beautiful shopping spaces, the Wall Street Journal reports.
So that’s exactly what brick-and-mortar retailers need to focus on, he says. And a big part of that is seamlessly implementing technology into the shopping experience, such as the newly unveiled “searchable” mall in London that allows shoppers to find up to 4 million products online from 250 retailers in the mall. [WSJ]