Brazil shopping malls have become cultural community centres and social meeting points thanks to their consumer credibility and outstanding dining locations becoming some of the most sought after in the country. With the incredible demand for new malls providing 150 new developments by 2015, foodservices within the industry will now need to compete with their successors for prime locations in order to provide a premium consumer dining experience that appeals to all.
According to small business agency SEBRAE, in 2012 half of Brazilian consumers visited a mall at least once a week with only 40% stating that shopping was their primary reason for visiting. 15% said that they visited for dining and 14% used the mall for a casual stroll! The study reported that Brazilians value the comfort and security of a mall-based retail location as well as the convenience of being able to visit many outlets in a single trip. In fact, retail locations grew in outlets by 4% and in value by 16% in 2013, the fastest-growing location type by both metrics.
Brazil rich mall-based social culture has made shopping malls popular with not only the high income consumer but also the growth of 42 million Brazilians moving into the middle-class who may not be able to afford everything the mall has to offer but can still take advantage of the malls leisure status and social convenience as well as gaining new access to foodservices and a new dining experience.
An example of this growth is the development of the new Mangabeira Shopping Mall in Joao Pessoa which will comprise of nearly 100,000 square metres of built area, contain 16 anchor stores, 210 individual units, a cinema complex, bowling alley and electronic park and will provide the locals in excess of 4,500 jobs when it open this year. With an investment of over £240 million, the shopping mall will bring convenience, practicality, development and opportunity to the North east region and revolutionise the market for the Brazilian mall-based social culture within the area where our fantastic Tambaba Country Club Resort project and Pueblo Do Mar project reside.
Source: Euromonitor International