Experts told CNA that this is mostly driven by niche brands and specialty businesses moving into these more gentrified areas with better connectivity, instead of shopping malls.
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Among these shops is multi-label retailer Goodluck Bunch, which sank its roots in Bali Lane eight years ago.“We don't get that much footfall as compared to a mall, but that's also a good thing on our end where we can foster friendships with customers who come in.” Some experts noted that these areas have also caught the eye of luxury brands, as they look to build brand identity and make connections.
This shift is also driven by the preferences of Gen Zs, who “prioritise authenticity, individuality and meaningful engagement with brands”, she added. “They want to give consumers something new. Shopping malls can feel boring because they all look the same,” he added.
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