A shopping centre. Landlords will have to shift away from traditional retail models to attract customers as more business moves online.(Source: vietnamfinance.vn) HCM City (VNS/VNA) - Recognising the threat online retail channels, owners of shopping centres will have to explore the use of retail space for non-conventional uses, particularly education, flexible workspaces and fitness clubs, according to Jones Lang LaSalle Incorporated (JLL).
The integration of technology in retail is gradually shaping consumers’ behaviour in Vietnam.
The growing popularity and convenience of online shopping is changing traditional shopping patterns and contributing to the migration from physical stores to online platforms.
According to JLL’s Q4 2018 report, total retail market space in Ho Chi Minh and Hanoi reached about 2 million sq.m, with the occupancy rate reaching 89.7 percent and 88.1 percent, respectively.
Wishing to fill vacant space and increase customer traffic, many shopping centre developers have been considering bringing in non-conventional tenants. – VNS/VNA
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