GEORGE TOWN – Despite the fact that Malaysia has entered the Covid-19 endemic phase beginning this month, the service and retail industries are still waiting for significant progress and improvements in their business.
At the same time, these companies do believe that the worst is finally over, and “experience-based” outlets will revive the industry.
Speaking to The Vibes, Hunza Group executive director Khor Tze Ming said the group will be focusing on the type of tenants taking up the commercial lots at Paragon Mall here.
Seeing that at least two anchor apparel stores have closed down, Khor said businessmen running retail outlets must plan carefully and see if people are still visiting the shopping malls to purchase clothes as online shopping has become more convenient now.
Even though online retail experiences have a larger footprint on the lives of people today, she believes shopping malls are still very relevant as they integrate with its virtual counterpart.
“This is why we are careful to select the right mix for the mall and subject to their agreement – if they want to come to Penang and open their store in this area, among other things.
“What we see during the pandemic is that people need essentials and people still dine at restaurants.
“Therefore, we need F&Bs and other trades such as sports and entertainment.
“We are looking for more experience-based providers because it cannot be physically replaced,” she told The Vibes.
For the shopping mall scene to boom, Khor also believes more tourists are needed.
Therefore, they are keeping their hopes up for more borders around the world to be reopened so that international tourists can also enjoy what Penang has to offer.
Shopper-count in the mall has increased by 14%, comparing the fourth quarter of 2020 with the fourth quarter of last year.
“We believe the time is ripe for us to restart major events and put the spark back into the shopping malls.
“The first of many to come is the first-ever open singing competition co-organised by their tenant, I Am Singer, and local talent agency Velvet Signature,” she said during a press conference at the mall today.
Penang exco for Tourism and Creative Economy Yeoh Soon Hin who was in attendance during the launch said the singing competition underlined the healthy development of tourism and creative economy that will broaden the community’s involvement. – The Vibes, April 18, 2022
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