Wednesday, November 24-30, 2021 - // no. 135
The future of PR’s electric auto industry P7 Virtual assets: non fungible, but valuable P9
Puerto Rico and the Caribbean
www.theweeklyjournal.com
Shopping malls thrive in the age of
online retail
Back to the Future with the Labor Reform P12
Have to adjust to the changing scene to stay relevant
Miss World 2021 kicks off in Río Grande P15
S
Zoe Landi Fontana, The Weekly Journal
hopping malls seemed to be falling out of fashion. With the impossibly steep competition offered by online retailers, which often have more options and usually better prices, wouldn’t brick and mortar stores have no other option but to shut their doors? At least, this seemed to be the perception of many consumers amidst a pandemic that made going outside a serious health risk. However, people have been returning to Puerto Rico’s top shopping malls at pre-pandemic
rates. By rapidly adjusting to the changing retail scene, Deloitte’s Center for Financial Services believes malls can become relevant again. Retail real estate owners’ key to turning around the retail environment, according to Deloitte, is to focus on three strategic priorities: 1. Recast the role of the shopping center to serve multiple purposes. 2. Drive greater customization in the tenant mix. 3. Develop a new leasing model that captures the value derived from the new business model. THE WEEKLY JOURNAL reached out to some GO TO PAGE 4