Page 53 - RLI June 2019

A ChAnging LAndsCApe the reasons that Latin America is undergoing a change in its retail landscape. Here,
Technology, healthy lifestyle and changing consumers’ confidence are just some of

RLI delves into some of the recently opened schemes and those major projects that
are soon to open to find out more about what is propelling this market forward.

Latin America MALLpLAZA pLAZA COMAs, peru

developer: Mallplaza

pUeRTO pLAZA MALL & TOWeRs, Argentina CUiABÁ sTATiOn MALL, Brazil pAssO FUndO MALL, Brazil
developers: Torre puerto santa Fe s.A. & Rusitano s.A. developer: brMalls developers: AROsO, F4 invest & Trust investimentos

pORTAL shOpping, ecuador
Managed by dK Management services

n a report by Euromonitor International, it was healthy living by linking in-store consumer experiences with the heart of Santa Fe harbor, the scheme aims to turn the With a privileged location in the district of Sao Cristovao, the
highlighted that shifting values and access to the information to guide consumers to better purchases. space into one that will cover all the service needs of this scheme serves a catchment area of one million inhabitants
internet have led to increasing competition with today’s Latin America has been marked by years of economic emblematic area. With an innovative and sustainable design, across the entire northern region of Rio Grande do Sul.
Iconsumers shopping across multiple platforms. While and political crisis, an unusually strong US dollar, and inflation. it will be a common place where the city and the natural Custom planned to offer a new level of comfort and now
92 per cent of retail sales in Latin America continue to These conditions have impacted consumers’ confidence and spaces combine and become a meeting point for families the state’s largest and best shopping and leisure destination,
take place in physical stores, alternative shopping models – expenditure patterns. Over 48 per cent of Latin Americans – and friends. The space, with an area of 14,000sq m GLA, the Cuiabá Station Mall was delivered in October last year. The
such as e-commerce and subscription services – are gaining the highest percentage among all regions – intend to decrease will have several beauty and healthcare facilities together scheme had been conceived using the latest mall innovations
ground. Thus, retailers must be prepared to engage with their overall spending over the next year. Despite a preference with a gastronomic offer and over 60 retail spaces plus 120 to provide an advanced, social and entertainment centre for
consumers anytime and anywhere. to save more money, consumers are willing to continue parking lots. The investment required will be over $10M and the families of Greater Cuiabá and of the region. All in all, there
A more holistic approach to wellness is being adopted, spending on experiential purchases. Retailers have the its opening is expected in November 2019. are 284 stores, eight anchor stores, 16 megastores and over
encompassing not only aesthetics but also mental well-being opportunity to build an experience around purchases made The largest mall in the northern region of Rio Grande do 200 satellite stores, including some of the largest in the state.
and physical health. Over 95 per cent of Latin Americans who in their stores to take advantage of this consumer preference. Sul, Passo Fundo Mall has a total of almost 50,000sq m of built The centre features parking for 2,000 vehicles, seven movie
participated in Euromonitor International’s Lifestyle Survey in In Argentina, Torre Puerto Santa Fe S.A. and Rusitano S.A. area across three floors. It houses over 200 stores including theatres, gourmet promenade, games area, a pet park and an
2017 considered important to eat fruits and vegetables, limit presented the Puerto Plaza Mall & Towers project which anchor stores, megastores and satellite stores, totalling innovative food hall and service promenade. The project was
stress level, or get regular exercise. Retailers can promote was presented to the public on 19 February. Located in 30,000sq m of GLA. The parking area has about 2,000 spaces. developed by brMalls and spreads over 47,000sq m.

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