Covid radically hit the most recent retail projects opened in the US, Hudson Yards in NY in March 19, the American Dream mall in NJ in October 19, not to mention the first Nordstrom store in NY which opened the same month. In September 20, Hudson Yards is facing a lack of rent payment from 75% of its retailers and Neiman Marcus exitted, the American Dream mall plans to shift from 55% entertainment and 45% retail to 70% entertainment and 30% retail, and Nordstrom is negotiating rent reduction. However, this woes were not caused by Covid, which only played as an accelerator. Retail Dive argues that mall developers have been late into addressing digital, but, above all, need to rethink their role and the reasons why customers would need to come to their place. The involvement in society and commitment to local communities, by giving back, is key to create a personal relationship with clients.

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A case for radical retail reinvention