AREA15, Mall Of The Future
January 14, 2020Credit: The Vox Agency
Malls of the future may look very different from what we have right now. Intel, believes that the future of retail shopping revolves around entertainment. It has collaborated with AREA15, one of the first purpose-built experiential retail and entertainment complexes, in Las Vegas to off this new concept.
Unlike conventional outlets, this one is meant to attract and engage visitors with its fancy decor, digital displays and other type interactive services. This is ahift is due to research,which shows that 81% of Gen Z shoppers prefer to make purchases at brick-and-mortar stores.
Credit: Design Distill
This is a surprising reversal from what millenials and baby boomers want. What better way to entice this growing generation, poised to be the largest generation of consumers by 2020, than an entertainment-store outlet? Intel also says that soon, Gen Z will be responsible for $29 billion to $143 billion of the purchasing power in the US.
The rise of the this type of economy has fueled the need to revamp current business-models to compensate for the change in mindset. AREA15 is is a modular infrastructure that can be adapted to suit the innovative stuff that Intel’s Experience Incubation Hub churns out.
The chipmaker already has several companies onboard such as Artist TRAV, Papinee, Pressure Point Creative, ThenWhat Inc. and Variant. But it hopes that many more join it’s hub in the near future.
