1. A Mall is a central
wealthy location with lots of traffic. Close enough to attract locals people
from nearby town and even tourist. The retailers need to believe what customers’
needs/wants and will consume it differently. The retailers are not interested
in consumers rather they are interested in shoppers that shops in their stores.
Currently malls are using technologies to transform mall usability as a means of improving customer
satisfaction and decrease the customer pain points.
2. Strategies are very
important for malls as they are operated by on company, they have very
different incentives from different independent stores and these companies
wants their customer to stay longer not just walk-in and out, through which
they can compete. These companies pick
their renters very carefully as they not only cooperate and complement one-another.
This not only helps in driving customers but also helps in getting the rent
paid in time.
3. I would recommend
malls having a USP (Unique Selling Proposition). Why would a customer go to a
mall if they don’t have anything unique to offer? A strong difference in the theme, special amenities, facilities will
help you attract your customer segment of choice.
4. The best thing in
the mall today is that all the products are physical i.e. people can actually
try the products before buying it as compared to online stores where you have
to purchase it first then try it.
5. The main advantage malls are having
over their competitors (e-commerce) are:
· Hanging out place for families
· Opportunity to try the product before
actually buying it.
· Social Experience
· Different themes during the holiday