San Francisco's Westfield Mall Gets Millennial-Friendly
San Francisco's malls are leading the pop-up phenomena reshaping shopping.
Developers such as Westfield and Simon Property Group are turning to these short-term shops in a fight to preserve cash flows as more shoppers venture online for their needs, reports the Wall Street Journal. Westfield San Francisco Centre converted its fourth floor to host pop-ups and co-working space.
Typically, the pop-ups don’t sign multi-year deals. Some enter into short-term leases to augment their online presence. A small physical presence can lower customer acquisition costs, Simon Property president Rick Sokolov told the WSJ.
An established company might also resort to pop-up stores to refresh its brand and connect with a different set of customers by offering new services in a nontraditional setting. [WSJ]
