Why NOW is the best time to expand Micro Tenants to Philippine shopping malls

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Last October 20, the Philippine Retailers Association (PRA) and FitForCommerce organized a webinar on Micro Tenants: Investing in the Revitalization of Malls with global industry expert Gary Burrows, Managing Director – Malls and Meeting Places and guest panelist Cesar Jose Jesena, Division Head -Tenant Management at Shangri-La Plaza Corporation.  

According to Burrows, “consumer trends have shifted towards locally authentic and unique brands.” By repurposing the malls and meeting places, there is so much opportunity to create something different, he added.

Micro tenants are a new breed of retailers that are disrupting the industry. These are the new type of tenant class – lean and agile, giving digitally-native retailers options, achieving Gen-Z’s desire for on-demand fulfillment, merging the digital and physical to meet and exceed customer expectations and changing the nature of lease structure. 

By remodeling the shopping mall experience, “we’re changing, we’re doing a mindset, and methodology of how we live, work, play and shop”, Burrows emphasized. While there are brands now that are looking a sourcing on business sustainability, there are five (5) significant points to meet customer demands and these are: bringing locally-unique and authentic retailers operators back into the mall or meeting place environment, providing a pathway for cultural and ethnic diversity, bringing together social, cultural, social and community groups in a scalable and modular space, and generating social commerce and new level of customer loyalty focused on investment.

On the other hand, Jesena discussed three reflections that mall tenants and retailers need to adapt quickly in these changing times – Crises do not last forever; Resilience is key; adopt new ways of thinking and taking it to the next level and the collaborative spirit across all our partners. 

PRA Chairman and Picture City President Atty. Paul A. Santos welcomed the attendees and JT Solis, Co-Founder and CEO of MAYANI moderated the event. 

The 45th PRA Virtual Learning Series is in partnership with FitForCommerce, Trusted advisor for everything e-commerce, digital and omnichannel, sponsored by Globe Business (NRCE Premium Platinum Sponsor), Program Partner MAYANI and Media Partner Megamobile.

For more inquiries about PRA virtual learning events, visit www.philretailers.com.