Experience-led concepts drive reinvention of Asia’s retail spaces

Fashion and F&B remain key drivers of leasing and footfall

Retail landlords and brands across Asia are rethinking the role of physical stores, as homegrown operators and experience-driven concepts reshape malls and high streets, according to a JLL report.

Malls and high streets are being repositioned as spaces for discovery, social interaction, and longer dwell times.

Fashion remains the strongest driver of retail leasing across key markets, including Bangkok and India, where it accounted for over one-third of new leasing in 2024–2025. Brands such as Uniqlo are expanding through compact flagship formats, while Gentle Monster continues to push experiential retail with gallery-style stores that blend shopping and immersive design.

Food and beverage (F&B) also continues to play a critical supporting role in this evolving ecosystem. Beyond sales, it drives footfall, extends dwell time, and encourages repeat visitation.

Strong domestic consumption and a rebound in regional travel have supported rapid expansion amongst operators such as Luckin Coffee, Chagee, and Molly Tea. Increasingly, design-led and “Instagrammable” dining formats are reinforcing malls as lifestyle destinations rather than purely transactional spaces.

Flexibility is becoming central to retail strategy. Landlords are using pop-ups, modular spaces, and themed activations to test concepts and build mixed clusters of fashion, F&B, and lifestyle tenants. Some retailers, including Muji, are also integrating cafés and hybrid formats to extend customer engagement.

This is particularly visible in the growing influence of homegrown brands across China, South Korea, and Japan, with additional momentum emerging from other parts of Asia.

“These operators blend digital customer acquisition with store formats that resonate locally, prompting landlords to rethink anchors and curate for cultural fit as well as scale,” the report noted.

According to JLL’s Experience Matters 2025 report, 74% of consumers expect brands to deliver personalized experiences, whilst 69% prefer destinations that reflect their values over those focused purely on convenience or price.

Landlords that prioritise curation, flexibility and active programming—and occupiers that treat stores as experience and fulfilment hubs—will be in the best position to capture durable demand and outperform peers.