Still in a downward trend but leading a way to recovery
The shopping centre market in Surabaya signaled a gradual return, as tenants have begun re-opening their stores and visitors become more comfortable coming to shop. The vibe inside malls has improved with regular events and exhibitions.
Owners and management continue to change in order to determine the best format in maintaining positive performance in their malls. During the pandemic, competition amongst shopping centres has forced management to find the best way to keep their shopping centre a leading shopping destination. Mall managements need to pay attention to their target customer demography and meticulously formulate a suitable composition of their tenants.