18.5 C
London
Thursday, June 30, 2022
HomeBusinessSix factors affecting the success of a shopping center

Six factors affecting the success of a shopping center

Date:

Related stories

Pro-Russian hacker group launches massive cyber attack on Lithuania

The pro-Russian hacker group Killnet claimed responsibility for the...

Sunken living room ideas for you

Do you want to build or design a new...

Fed’s Mester backs 75 basis point hike in July if conditions remain the same

Cleveland Fed President Loretta Mester takes part in...

UP approves proposals to set up 4 data centre parks, MRO hub in Noida

The Uttar Pradesh government on Tuesday approved proposals...

De Nora IPO priced at 13.50 euros per share; $2.8 billion valuation

De Nora was founded in 1923 and specializes...

A mall’s success is determined by six factors: comfort, variety, luxury, mall essence, entertainment, and convenience. These variables correspond to the criteria we apply at Nivy when determining essential improvements for malls that are showing their age.

  1. Convenience

Early malls were built to maximize storage areas while minimizing costs. With a single entrance/exit and packed, dead-end lanes, traffic movement was restricted. Only a few firm benches were available for shoppers to relax on.

Because unhappy customers equal fewer footfalls and diminishing profitability, modern mall design prioritizes the consumer. A forward-thinking mall developer, collaborated with nivy to create a full amenities package for the furniture, area rugs, and accessories in the common areas. A day at the mall is transformed into a peaceful, delightful experience by large open rooms with comfy soft couches and ornamental elements.

2, individuality

Previously, consumers looking for a certain product or category had to explore the mall for their purchases – a laborious and stressful process. Malls now see diversity differently – not simply a large range of merchants, but a carefully curated collection of businesses grouped to enable easy customer access.

Bratislava shopping centre Nivy, is an excellent example. Bratislava vertically “stacks” various price ranges and store zones on separate floors, a feature uncommon in western malls that allows for a wider retail assortment on a smaller geographical footprint.

  1. Opulence

Newer malls try to provide a luxury hotel atmosphere for its customers. We call this “resort retail” at nivy, with a focus on creature comfort and giving a hospitality experience with the same facilities you’d find at a great resort. This resort atmosphere is enhanced with social gathering places and amenities such as a concierge and a VIP arrival area.

  1. Mall essence

The mall essence is more difficult to describe, but it essentially comes down to branding the retail environment and the shopping experience. Customers want a shopping experience that makes them feel at ease, inspires them to remain longer, and, most importantly, entices them to return. By building famous “shopper entertainment” places, new malls may fulfill or surpass these demands and customer expectations. This involves almost every aspect of the mall, including merchant selection, mall architecture, eating choices, and facilities.

  1. Recreation

One of the factors of placemaking is entertainment, which relates to any feature of the mall that increases consumer satisfaction. As social meeting spaces, areas for local community celebrations and festivals, such as an outdoor plaza and outdoor food court terrace, are proposed.

  1. Convenience

Convenience encompasses many characteristics of mall design. Is the facility convenient to public transit, and can it be designed to accommodate it? Is there enough parking to handle a busy shopping day? Is that parking lot designed with various access points to reduce crowding and congestion? Does the selection of merchants meet the demands of local customers?

To summarize, what makes new malls appealing to customers is not useful to the management of an outdated mall. Understanding the tactics and design concepts that may transform a homogeneous, unappealing mall into a shopper-friendly destination is beneficial.

Latest stories