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THE FUTURE OF MALLS IN SINGAPORE. FITCH 14 th February 2017

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  1. 1. THE FUTURE OF MALLS IN SINGAPORE. FITCH 14th February 2017
  2. 2. RETAIL IS THE INTERSECTION OF CULTURE AND COMMERCE. - RODNEY FITCH
  3. 3. ITS OFFICIAL: SINGAPORE MALLS ARE DEAD.- ASIAONE, NOV. 2016
  4. 4. MANY POTENTIAL REASONS WHY.
  5. 5. 2.1% OF SINGAPORES TOTAL RETAIL SPENDING IN 2015
  6. 6. WHAT ROLE DO OUR MALLS PLAY HERE IN SINGAPORE?
  7. 7. POPULATION DENSITY RANKINGS 1. MACAU 2. MONACO 3. SINGAPORE 4. HONG KONG 5. GAZA STRIP 6. GIBRALTAR 7. VATICAN CITY 8. BAHRAIN 9. MALDIVES 10. MALTA 11. BERMUDA 12. SAINT MAARTEN 13. BANGLADESH 14. GUERNSEY 15. JERSEY 16. BARBADOS 17. MAURITIUS 18. TAIWAN 19. ARUBA 20. SAINT MARTIN
  8. 8. 80% LIVE IN HDBs
  9. 9. 300 PARKS 4 NATURE RESERVES
  10. 10. 107 MARKETS AND HAWKER CENTRES
  11. 11. THE MALL IS SINGAPORES THIRD PLACE.
  12. 12. Source: Boston Consulting group Millenials report 2014
  13. 13. Source The ultimate marketing machine, HBR 2015
  14. 14. 74% 2.4x Source: The value of Customer Experience Quantied. HBR 2014HIGHLY-EMOTIONAL = HIGH-PERFORMING HIGHER REVENUE PER CUSTOMER HIGHER CUSTOMER LOYALTY
  15. 15. S&P 500 Stock Performance - Jul 13 - Sept 16 MSCI vs S&P vs EI Source: Bloomberg Millward Brown Analysis MSCI WORLD INDEX 28.3% 14.3% EXPERIENCE INDEX 73.3%80% -10%
  16. 16. ITS A SIMPLE, ANCIENT SYSTEM.
  17. 17. 1.
  18. 18. MASHPEE COMMON.
  19. 19. 2.
  20. 20. SHANGHAI DREAM CENTER.
  21. 21. 3.
  22. 22. VENICE, ITALY HAJI LANE
  23. 23. 3. 2. 1.
  24. 24. THE HEART OF SHOPPING IN SINGAPORE.
  25. 25. SOURCE: TODAY, 2016
  26. 26. A SUNDAY AFTERNOON ON ORCHARD ROAD.
  27. 27. 1. WALKABILITY?
  28. 28. 2. OUTDOOR DINING?
  29. 29. 3. PERMEABLE MEMBRANES?
  30. 30. CITY HALL PLAZA, BOSTON.
  31. 31. ORCHARD ROAD.
  32. 32. WE SHOULD CALL IT ORCHARD TUNNEL.
  33. 33. WHATS HAPPENING INSIDE?
  34. 34. HOW ARE WE APPLYING THIS MODEL INSIDE OUR MALLS?
  35. 35. THE REPETITION.
  36. 36. A REPETITION OF STORES.
  37. 37. A REPETITION OF FOOD.
  38. 38. TIM HO WAN PLAZA SINGAPURA
  39. 39. EVEN A REPETITION OF TUNNELS.
  40. 40. WHAT CAN WE DO TO MAKE OUR MALLS PLACES PEOPLE WANT TO BE?
  41. 41. 1. KNOW PRECISELY WHO YOURE DESIGNING FOR.
  42. 42. LENOX SQUARE MALL, ATLANTA.
  43. 43. DOWNTOWN GALLERY.
  44. 44. 2. CREATE TEMPLES FOR THE DEVOTED.
  45. 45. JOHNNIE WALKER HOUSE, BEIJING.
  46. 46. TESLA, SAN DIEGO.
  47. 47. FORD HUB, NEW YORK.
  48. 48. PEDDER ON SCOTTS.
  49. 49. 3. ENCOURAGE PEOPLE TO EXPLORE.
  50. 50. SEPHORA.
  51. 51. SIAM CENTER, BANGKOK.
  52. 52. SIAM CENTER, BANGKOK.
  53. 53. 1.KNOW PRECISELY WHO YOURE DESIGNING FOR. 2.CREATE TEMPLES FOR THE DEVOTED. 3.ENCOURAGE PEOPLE TO EXPLORE.
  54. 54. ROI RETURN-ON-INVESTMENT
  55. 55. ROTI RETURN-ON-TIME-INVESTED
  56. 56. STEPHEN LAMPERT REGIONAL DIRECTOR OF STRATEGY, SOUTHEAST AND NORTH ASIA@FITCHdesign