Reviving Malls: The Recipe for Success for Restaurant Brands
Discover how restaurant brands like New York Fries are leveraging malls as potential hotspots for expansion and growth in the dining industry.
Photo by Louis Hansel on Unsplash
Photo by Louis Hansel on Unsplash
The Evolution of Malls as Lifestyle Destinations
Once considered traditional shopping hubs, malls have evolved into lifestyle destinations offering a diverse mix of shopping, dining, and entertainment options. The integration of higher-end restaurants, movie theaters, and experiential venues has transformed malls into experiential centers, attracting a broader audience beyond just shoppers. This evolution aligns with changing consumer preferences, where experiences and convenience play a significant role in their choices.
Photo by Louis Hansel on Unsplash
New York Fries: A Case Study in Mall Expansion
New York Fries, a popular Canadian franchise known for its focus on fries, hot dogs, and poutine, recognized the untapped potential of malls in the U.S. market. By leveraging the compact footprints of mall spaces, the brand strategically aims to penetrate the American market. With its successful track record in Canada, where it has achieved a $100 million brand status, New York Fries serves as a prime example of a restaurant brand capitalizing on mall locations for growth.
Photo by Louis Hansel on Unsplash
Reimagining Real Estate Strategy: Malls as Sweet Spots
Dave Colebrook, the president of LSR and Emerging Brands at Recipe, highlights malls as the real estate sweet spot for New York Fries. Despite the challenges faced by malls due to e-commerce and the pandemic, Colebrook sees malls as an opportunity for brands to establish a strong presence. The strategic positioning of eateries within these lifestyle centers allows brands to tap into constant foot traffic and offer a unique dining experience to mall visitors.
The Allure of Mall Dining: Trends and Future Prospects
Mall dining is witnessing a resurgence as consumers seek convenient and varied dining options in one location. The integration of dining spaces within malls caters to the demand for experiential dining and social gatherings. As restaurants like New York Fries expand into mall settings, they contribute to the diversification of mall offerings, attracting a larger pool of customers. This trend indicates a promising future for restaurant brands looking to establish a presence in malls.