What: A piece on the dramatic situation of UK and US shopping malls, and how mall owners are trying to change the situation.

Why it is important: The secret sauce for modern retail is to become a place to be, and not a place to purchase.

According to the FT, the high street in Croydon, south London, reflects the collapse of British retail, with the remains of former retail splendors: Grant’s, Allders, which disappeared in 2012, an empty shopping mall, Whitgift.

However, landlords and local councils are teaming up together to repurpose those spaces. The Whitgift shopping center is going through a significant revamp and redevelopment plan. This is highly needed, as the US and UK have been covered by huge malls including anchor department stores, a model which does not have sense anymore today and open up a circle of underinvestment.

The new plans (the FT interviewed the new CEO of Hammerson, Rita-Rose Gagné) imply to mix again retail together with homes, workspace, and leisure facilities. Lowering the weight of retail itself is also important, and this is the reason why Hammerson is implementing wellbeing and gym facilities, cultural and sports events, as well as last-mile logistics spaces. Food /amp] Beverage used to account for 5% of the retail mix in the 90s, it now represents 20%.

The Financial Times questions the remaining time to achieve such plans in a context when mall owners start to be a bit short of cash, and mentions that true regeneration can only be done hands in hands with city councils.

The rise, fall and rebirth of the shopping centre