Defining the design of a shopping center, determining the mix of store types and the optimal size of stores to maximize the benefits of commercial areas, are objectives that can be achieved through the proper analysis of large volumes of data.
The volumes of data being generated in the digital environment every second enables business leaders to make well-informed decisions that are based on the analysis of empirical evidence.
Designing or adapting properties to be of mixed use, offering more entertainment options and mixing in an adequate way the type of tenants to whom the premises will be rented, are strategies that could give a new boost to shopping centers.
The pandemic drove consumers away from shopping centers, as government home quarantines in the region, the rise of e-commerce, and bans on people from visiting these facilities significantly affected mall operations.
The change in consumer habits resulting from the boom in e-commerce and the preference for avoiding visits to physical stores, has forced some large commercial surfaces to be transformed into storage and logistics areas.
The covid-19 outbreak caused the emergence of a new commercial reality, in which consumers are less willing to go to physical stores to make certain purchases and prefer to store online.
The opportunities derived from the habit of buying online, together with the current business scenario, are creating an environment where the offer of different brands of clothing and restaurants are brought together in virtual platforms.
With the spread of covid-19, social distancing measures were decreed in the region's markets, a situation that led to radical changes in consumption habits and shopping methods.
How many people live around a shopping center, how old they are, what is their consumption level and what products or services they are looking for, are some of the questions that can be answered with the new geomarketing tools.
Measuring the potential demand of micro markets, based on the evaluation of the environment of a shopping center and its comparison with other similar sales points, has become essential to design adequate commercial strategies.
Using technology to measure the flow of visitors, reducing the furniture available in the food courts and implementing product deliveries in the parking area are part of the changes that the region's shopping centers must apply in this new reality.
Because of the threat of the spread of covid-19, since mid-March in Central America, the authorities agreed to close the shopping centers. So far, in Costa Rica, they have already reopened, in El Salvador they will be operating again in the coming weeks and in the case of Guatemala, it is not yet defined when this sector will be allowed to reactivate.
At the beginning of the covid-19 outbreak in most of the region's real estate markets, interest in commercial investments decreased, but in recent weeks the decline stopped and in some countries increases are already being reported.
Through a system that monitors changes in consumer interests and preferences in Central American countries in real time, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets operating in the region.
Including the respective prevention protocols to avoid the spread of the virus, cinemas, beauty salons, auto parts sales, non-contact sports training centers, gyms and swimming schools will be able to open to the public as of May 1st in Costa Rica.
The protocols must be constructed between the institutions and the respective sectors, who may send their proposals to the Ministry or Executive Presidency as appropriate, reported the Ministry of Health.
Between February 2020 and Easter Week, visits to shops decreased between 40% and 90% in Central American countries, but since April 13 a change in the trend has been observed, reflecting a greater movement of people to shops and other businesses.
According to the "Information System for the Impact Analysis of Covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, Costa Rica is the country with the most pronounced change in trend, since as of April 12th the reported drop in physical visits to stores was 79%, while on April 17th the reported reduction was 57% from the levels prior to the health crisis.
Between the end of February 2020 and Easter Week, visits for shopping or recreational activities fell between 40% and 90% in Central American countries, with Panama recording the largest drop and Nicaragua the smallest.
Since the effects of the crisis generated by the spread of the covid-19 in Central America began to be felt, and more specifically, since mobility restriction measures were tightened, visits to shops in Central American countries have fallen dramatically.
In an effort to contain the advance of covid-19, starting March 19 and for a period of 14 days, the country's shopping malls will be closed.
The Presidency informed that all the shopping centers in the country will remain closed, however, supermarkets, bank agencies, and pharmacies inside them may remain open, as ordered by President Nayib Bukele.
The closure of shopping centers, bars and discotheques, and the suspension of public transport, are some of the measures that began to take effect in the country on March 17, with the aim of containing the spread of covid-19.
The provisions are mandatory and will be in force from March 17 at 00:00 hours until March 31 this year at 24:00 hours, details the presidential agreement published in the Diario de Centroamerica.
Suspension of work for government and company workers, closure of businesses and shopping centers, as well as a ban on the operation of public transport, are some of the measures decreed in the country in view of the threat of the spread of covid-19.
Air, land and sea borders are closed throughout the country, and all sporting, cultural and social activities are cancelled, reported the Honduran presidency.
Two office towers in El Salvador, a corporate center in Honduras and a shopping center in Panama are part of the investments announced in Central America for the coming months.
The interactive system "Construction in Central America", of the Trade Intelligence Unit of CentralAmericaData, includes an updated list of public and private construction projects to be developed in the coming months.
It is estimated that in San Salvador two out of every ten commercial establishments are service sector companies, which are mostly vehicle maintenance workshops, banks and consulting agencies.
An analysis of commercial establishments in El Salvador, prepared by the Trade Intelligence Unit of CentralAmericaData, shows interesting results on the characteristics of the companies operating in the country's capital, according to their location and type of activity.
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