With the rising popularity of shopping online, landlords and their teams are attempting to increase not only the experience, but also the amount of time spent for those in-person shoppers. Many shopping malls have been pumping money into the design and content of shopping malls in order to accomplish this mission. Because of the rapidly advancing technological times, they are finding urgency in re-establishing the experience and value in shopping at malls.
Many malls will spend into the upwards of hundreds of millions (and sometimes exceed a few billions) of dollars. As malls continually upgrade, shoppers will become habituated to renovations and the malls will have to start their operations anew. Landlords believe that retail must be continually kept “fresh, vibrant and inspiring”, which may at times cost more than they can produce. Revamping malls requires a balance between many factors that affect customers, including store layout, retail brands, entertainment services and health and beauty outlets. There must also be a balance between large brand names and affordable brands in order to attract the broad customer target market that is required for a successful shopping mall’s traffic flow.
Source:
http://www.smh.com.au/nsw/quest-to-turn-malls-into-an-allday-extravaganza-20131004-2uzjb.html
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