Shopping Centers in Mexico: Multifunctional Hubs Where Logistics, Wellness, and Training Services Grow Up to 60%

Over the past year, the expansion of transportation and logistics companies, beauty and health businesses, and educational institutions has been at the forefront of shopping center's evolution in Mexico's main retail markets. This shift is not a mere coincidence; it mirrors the changing landscape of the retail market and other sectors, both domestically and internationally.

On the one hand, the parcel services sector has seen a staggering 60% increase, with key players like Estafeta, DHL, and FedEx expanding their presence in shopping centers by 30% to 140% compared to the first quarter of 2023. This growth is a direct outcome of the transportation and logistics sector's expansion since 2020, driven by the surge in e-commerce demand during the pandemic. Today, shopping centers have transformed from mere product sales platforms to distribution hubs for online purchases, complete with lockers for order pickup, drive-through windows, and home delivery docks.

Conversely, the gross leasable area (GLA) of personal services companies has experienced a significant 17% increase. This growth has been primarily fueled by the inclusion of beauty and health companies, including renowned brands like Laboratorios Chopo, Smart Fit, and Sephora, whose GLA has grown by 12% to 90%. At the core of this trend are personal care businesses, ranging from spas and nail bars to cosmetic stores and fitness centers. It's noteworthy that the expansion of these industries is driven by a thriving global culture of wellness and self-care, as well as the demand for customized, high-quality services, particularly in the corporate sector. A prime example of this trend is the increasing prevalence of gym memberships as an employee benefit in Mexico since 2017.

According to Cobee's "2023 Employee Benefits Trends in Mexico" report, corporate benefits and perks are the most valued factors by workers after salary, playing a crucial role in retaining and attracting talent. Of the 26 benefits analyzed, gyms stand out as one of the most desired and offered, along with savings funds, pensions, insurance, meal vouchers, and others. This underscores the growing importance of wellness and corporate benefits in the retail market.

For their part, educational institutions were the third sector with the highest growth, increasing their space by 16%. Language centers and venues for children's activities stood out, with GLAs growing between 50% and 100%. Daycare, recreational, and educational centers, like Crafty Mania and Kumon, as well as language centers, like Interlingua and Harmon Hall, have maintained a significant presence in shopping centers over the past decade. Similar to corporate benefits in beauty and health, educational and childcare services are highly valued in the workplace.

This occurs in a context where the Organization for Economic Cooperation and Development (OECD) has noted a global increase in micro-credential implementation since 2018, tripling by 2022. These short certifications validate specific skills and are designed to meet labor market demands and enhance workforce participation.

The expansion of transportation and logistics companies, beauty and health businesses, and educational institutions in Mexico's shopping centers reflects a transformation in the use of commercial space.

Currently, shopping centers tend to be multifunctional hubs with omnichannel strategies. They integrate logistics services to improve product delivery and urban distribution efficiency. Additionally, they include services that meet the needs of modern consumers and businesses, promoting wellness as a lifestyle.

To learn more about the performance and development of the Mexican retail market, explore SiiLA REsource or contact us at contacto@siila.com.mx.