Creating the right tenant mix not only helps in attracting and retaining shoppers by offering them multiple choices and satisfying multiple needs, but also facilitates the smooth movement of shoppers within the mall, avoiding unnecessary clusters and bottlenecks. A mall is dependent on the success of its tenants, which translates to the financial feasibility of the tenant in the mall. Zoning refers to the division of mall space into various zones for the placement of various retailers.
Zoning is a mall space allocation exercises under which mall developers basically formulate right tenant mix to attract both types of customers especially the impulse buyers. Zoning is the solution of this problem that allows retailers help attract both types of consumers. Both types of customers are important for a retail store.īut question is how retailers should entertain them and increase revenues. While on the other hand, impulse buyers are those buyers who visit the mall with no intention of buying but if something, appeals them, they buy otherwise indulge into window shopping. In case, they find things costly or opposite of their expectations, usually they leave the mall and come back. If everything remains same and things are as per their requirements, taste, and budget, they do not waste time and buy the things. Therefore, they go to mall with the intention of buying and carry proper money.
SHOPPING MALL PROJECT MANAGEMENT HOW TO
Focused buyers are those buyers who know what their requirements are and how to fulfill them. In the world of retailing, customers can be broadly divided into two categories namely focused buyers and impulse buyers. Positioning is an irreversible decision and repositioning.
Therefore, utmost care must be taken while setting up the mall and deciding about the positioning.
Though new stores, new brands can come and go but offered concept remains the same. The positioned malls usually keep their offerings same for the entire life span of the mall. This type of positioned malls conveys the message that they offer all the national and international brands under that category. Specialty stores imply the message that most of the stores specialize in one particular segment of the vertical such as consumer electronics, jewellery stores, book stores, home furniture stores, and so on. Under this concept of positioning, malls are positioned according to the specialty stores in the mall. In short, under this type of positioning, malls are positioned on the basis of hypermarket or value driven concept. History reveals that few malls which initially had no or very less occupancy rate, became consumers’ first choice after the presence of hypermarkets. The primary reason for having hypermarket in a mall is to increase footfalls and conversion rate. One of the most common and widely apparent features of a successful mall is the presence of hypermarket.
SHOPPING MALL PROJECT MANAGEMENT MOVIE
Entertainment is offered in the form of movie theaters, swanky rides, waterfalls, gaming zones, scary houses, ice-rings, buzzy jumping, Kids play stations, Racing Cars, Video Games, interactive Kiosks, and so on. The main theme of such mall is to offer entertainment and all possible means of enjoyment. Basically final buying decisions are influenced by both the brand appeal and social status of the person. This is a separate aspect that at the time of final purchase, he/she adheres to that particular brand or not. Similarly when a person decides to buy a pair of contact lenses, name of ‘Renu’ brand comes to his mind. For example, when a customer thinks of purchasing a handicam or digital cameras, the Soni or Canon brands come to top of his mind. Positioning assists in creating a distinctive image and ‘top of mind’ recall for the masses when they think of a mall. It forms the basis for differentiating a mall from its competitors. The primary objective of positioning is to create a distinguish image of a mall among consumers. It also includes the location of the mall which is determined by the access, visibility etc. This survey includes demographics, psychographics, income levels and competition in the area. Generally mall positioning is determined after a detailed survey of households in the area where mall is going to be located. It refers to defining the category of services offered by a mall.
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