When it comes to setting up a successful shopping centre, there are several factors that need to be taken into consideration. Location is paramount, as you'll want to be in a safe neighbourhood with low crime rates and close to major highways that will increase your customer potential. Additionally, it's important to be in a densely populated area so that you can reach more potential customers. Market analysis is also essential, as it will help you determine if the environment will support the mall or not.
It's important to learn about the competition in and around the city, and what type of spaces should be created in the shopping centre. In a study on buying behaviour conducted by Rajagopal (200), it was found that repetition of types of tenants in a shopping centre can reduce shopping attractions and shopper visits to malls. These changes in the retail market can be due to competition in shopping malls, economic recession, and changes in customer demands (Kirkup and Rafiq, 199). Consumers want the plan to be placed in a convenient location that can be easily accessed from all modes of transportation, including bus, train and car; otherwise, motivating the public to attend the plan will be a challenge from the start, as it will jeopardize the success of the mall.
Your brand image is also important, as it represents what shoppers think about your plan and is a decisive factor in deciding if they choose to visit it. Consumers are looking for a shopping experience that makes them feel comfortable, encourages them to stay longer and, most importantly, convinces them to return. It's increasingly important to have a mixed-use system; a mall can no longer rely solely on retailers. Today, malls view diversity differently: not just a wide variety of retailers, but also a planned selection of retailers organized to provide convenient access to shoppers.
To have a better understanding of the market for the strategic planning and positioning of the shopping centre, it is vital to conduct a shopper survey. Just as the Internet has practically brought people closer to each other, social spaces such as megastores and giant shopping malls are physical spaces that help people reconnect with each other. Haute cuisine, café culture, dining out, leisure and entertainment, and community service have become part of today's shopping experience. In addition, it will be advantageous for the mall manager to improve parking facilities taking into account the safety, comfort and convenience of the buyer. To ensure success when setting up a shopping centre, there are several key elements that need to be taken into account. Location is essential; you'll want to be in an area with low crime rates and close to major highways that will increase your customer potential.
Additionally, you'll want your mall to be in a densely populated area so that you can reach more potential customers. Market analysis is also essential; it will help you determine if the environment will support your mall or not. It's important to learn about the competition in and around the city and what type of spaces should be created in your shopping centre. Your brand image is also important; it represents what shoppers think about your plan and is a decisive factor in deciding if they choose to visit it. Consumers are looking for an enjoyable shopping experience that makes them feel comfortable and encourages them to stay longer and return again.
It's increasingly important for malls to have a mixed-use system; they can no longer rely solely on retailers. Today's malls need diversity: not just a wide variety of retailers but also a planned selection of retailers organized for convenient access. Finally, conducting shopper surveys is essential for understanding the market for strategic planning and positioning of your shopping centre. Additionally, improving parking facilities taking into account safety, comfort and convenience of buyers will help ensure success for your mall.
