Mall Management Strategies

Mall Management Strategies

Length: 1250 words (3.6 double-spaced pages)

Rating: Excellent

Open Document

Essay Preview

More ↓
Mall management strategies

The Mall management strategy that I would be talking builds on the basic idea of interdependence between the Mall and the Retailer. It focuses on the business benefits that can accrue out of collaborated business management between the Mall Developers and the Retailers. This is not to say that the association between these two parties does not exist in the current scenario. Mall developers and Retailers do collaborate, but this collaboration has not been formalized and even when it is formalized, it is rather sporadic in nature. Thus the whole focus of this article is on suggesting a structured and formal way of collaboration between the Retailer and the Mall.

This concept is a whole process of enhancing customer traffic, sharing costs and increasing the profit margins.

Strategic Perspectives

Sharing the Burden-Collaborative Management

If we look at the customer's perspective, there are two major benefits that every customer seeks out of shopping in a Mall. One is an overall experience and the other is a whole variety of goods under one roof. These two expectations cannot be met satisfactorily either by the Mall developer or the Retailer. But if roles are clearly defined and each one develops a core competence, then a fantastic synergy can arise between the two parties. The Mall and the Retailer should work out a strategy where the Mall focuses on enhancing the overall experience and the Retailer focuses on the delivering a good variety of products. To formalize this association, there would have to be a clear definition of expectations and most importantly sharing of profits.

To summarise, the nature of collaboration would be:

• Redefinition of relationship between malls and retailers. It is no more the tenant landlord relationship that existed traditionally. Both need to consider each other as partners or associates, where one parties growth is greatly dependent on the other.
• Malls and Retailers work together to offer the Customers the complete experience. This complete experience would include products that can offer value for money on the one hand and attractive entertainment on the other hand.
• Through mutual discussions, collaborative strategy is defined and areas of core competence are identified. Each one seeks to improve and perfect the specific area of Competence. For e.g. Mall Developer could take up the responsibility of organizing promotions, while the retailer plans the merchandise according to the promotions requirements.

Pulling in the Customers

How to Cite this Page

MLA Citation:
"Mall Management Strategies." 123HelpMe.com. 26 Jun 2019
    <https://www.123helpme.com/view.asp?id=166039>.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Marketing Analysis : Omni Channel Integration Essay example

- Further, the insistent consumer has fueled trend responsiveness, which has in turn translated as a problem to the management of the retail supply chain. Consumers are insisting on buying socially-responsible products that meet their needs. They are also demanding that these products come in high quality and cheaply thereby expecting the retail outlets to provide this form of convenience whenever necessary. Abundance of information is making the consumer to demand for quality products from which the retailer must supply without fail otherwise they will move to the next competitor....   [tags: Retailing, Shopping mall, Supply chain management]

Research Papers
743 words (2.1 pages)

Retail Performance Of A Retailer Manager Essay

- In recent times it has been well documented and reported that the way in which retailing is changing. Alongside the former methods of ‘’bricks and mortar’’ stores, modern day retailers must now ensure that their goods and services are available by means of various streams, including websites and mobile apps. (Benady, D. 2014) But it is not only retailing which have changed; the consumer is becoming savvier and increasingly sophisticated. Consumers are expecting more from retailers and now expect a ‘’seamless shopping experience’’ however way in which they may interact with the retailer....   [tags: Retailing, Shopping mall, Business, Management]

Research Papers
1996 words (5.7 pages)

India 's Role Of Government Essay

- 31) Shriram Khanna, 2008, Report on Role of government in retailing. New Delhi, Confederation of Indian Traders Association, 2007, Report on Retailing, New Delhi Shriram Khanna observed wanted a fair and transparent on these issues of national importance. But the spread of organized retail is clearly desirable from the point of view of what it does for consumers, and farmers, if organized retail cuts household spending by 15-20 per cent, that 's a saving of $60-80bn. This is around a fifth of our savings today....   [tags: Retailing, Supermarket, Shopping mall]

Research Papers
1517 words (4.3 pages)

An Alternative Model Of Self Service Technology Essay

- For this assignment I will be focusing on the following trends and how it directly relates to the retail industry. The first trend that I will be focusing on will be technology and how it plays an important role in retail. The next trend will be healthy eating which will help identify how and why many retailers are making great strides to dominate this trend. The last trend will be customer service, which is key to making a lasting impression. Kaushik, A. K., & Rahman, Z. (2015). An alternative model of self-service retail technology adoption....   [tags: Retailing, Shopping mall, Sales, Nutrition]

Research Papers
1551 words (4.4 pages)

Essay on Growth Of New Retail Formats

- REPORT On GROWTH OF NEW RETAIL FORMATS IN INDIAN MARKET By DISHA AGARWAL Under the Supervision of A3104614183 Dr. VINOD KUMAR B.COM (H) 2014-17 In Partial Fulfillment of the Requirements for the Degree of B.COM HONOURS At AMITY COLLEGE OF COMMERCE AND FINANCE AMITY UNIVERSITY UTTAR PRADESH SECTOR 125, NOIDA - 201303, UTTAR PRADESH, INDIA 2011 DECLARATION Title of NTCC GROWTH OF NEW RETAIL FORMATS IN INDIAN MARKET I declare (a)That the work presented for assessment in this NTCC Report is my own, that it has not...   [tags: Retailing, Shopping mall, Shopping, Product]

Research Papers
2074 words (5.9 pages)

Essay on Analysis Of The Article ' Magic Of The Mall '

- Goss argues that developers and designers of the built environment, specifically shopping centers and malls, use the power of place and understanding the structural layout of the space to boost consumption of the retail profits. Shopping centers are separated from the downtown area of shopping either by distance and/or design. These establishments emerge for many to be the new heart and location for public and social life. In his article The "Magic of the Mall": An Analysis of Form, Function, and Meaning in the Contemporary Retail Built Environment, Goss also argues that the regulation of the spaces within the mall creates an atmosphere of "community" rather than one that is "public"....   [tags: Shopping mall, Retailing]

Research Papers
700 words (2 pages)

Questions On Visiting A Shopping Mall Essay

- 3 LITERATURE REVIEW Visiting a shopping mall is an everyday activity for most. Shopping malls have become a central hub for a diverse set of activities ranging from being an access point to satisfy basic needs for food and clothing to being a social mecca where customers can engage in common interests. Over the last decade, the influx of competitors in the mall arena has forced managers to develop strategies that elevate themselves above the competition. As a result, different malls have deliberately introduced unique attributes to serve as a magnet to attract shoppers....   [tags: Shopping mall, Retailing, Power centre]

Research Papers
1343 words (3.8 pages)

Essay on Nordstrom Strengthens Its Competitive Advantage

- A firm 's competitive advantage is achieved through offering customers a greater value, either by way of lower prices or by providing greater benefits and service that justifies a higher price. Nordstrom strengthens its competitive advantage and generic strategy through cost leadership and differentiation in order to differentiate themselves from other high end retailers. Nordstrom has consistently maintained a unique reputation from their establishment in 1901 to the today. Since developing a strong competitive advantage from inception, Nordstrom has been able to adapt to changing environments and market conditions to maintain their success....   [tags: Retailing, Sales, Online shopping, Shopping mall]

Research Papers
725 words (2.1 pages)

Marketing Assignment: Charles & Keith Footwear Essay

- 1.0 INTRODUCTION Charles & Keith, a well-recognized women’s footwear brand was established in 1996 in Singapore Amara shopping centre by the two young brothers, Charles Wong and Keith Wong. The company began its foreign market venture in 2000. To date, Charles and Keith has a presence in more than 20 major cities around the world. The brand are well-known internationally today with the vision “to be the most admired fashion-forward company” and the mission “to offer high quality products and services, with a commitment to perfection” in mind all the time (Charles & Keith, 2013)....   [tags: business analysis and strategies]

Research Papers
1061 words (3 pages)

Essay about An Observation At The Mall

- Conducting an observation at the mall allows for one to view many different people interacting and demonstrating numerous behaviors. The Mall in Columbia is generally a happy place where people visit to shop, socialize, and eat. While conducting my observation, I saw that some people at the mall were by themselves, with a loved one, or with friends. When out in public, there are certain norms or rules of behavior that people are expected to follow. People who do not follow these often face consequences such as stares, verbal reprimands, or possible legal action (Woller, 2013)....   [tags: Male, Female, Shopping mall, Sex]

Research Papers
1485 words (4.2 pages)


The biggest benefit of this strategy would be in facilitating enhanced customer traffic. Internationally Malls are supposed to be places of entertainment. For e.g. Malls in Germany, U.S.A offer round the clock entertainment services either in terms of carnivals, music shows or events. Mall developers should organize regular events which have the capability of attracting huge masses of audience, which would benefit the occupant retailers hugely. Although while undertaking such events a few things would have to be kept in mind:

1)    The events would have to be organized in such a way that Malls do not become merely places of entertainment and buying becomes occasional. In such a case the whole point of organizing these events would be lost. This problem can be tackled by associating a major percentage of the events with direct purchases. Retailers could be intimated about the promotion beforehand so that the retailers organize their merchandise accordingly. Mall developers should come up with a "Mall Events Calendar".
 
    Another thing that the Mall developer needs to be convinced about is the benefit of investing in these promotional events. While on the face of it Mall developers might feel that there are no tangible benefits in undertaking such events, such an assumption is far from reality. Promotion events not only increase the popularity of the Mall, they also increase the value of the space available in the mall. A mall which is more popular would definitely attract better brands at better prices.

In any case to tackle the apprehension of the Mall developers the strategy has incorporated certain financial strategies which create a Win Win situation for both parties. The retailers and the mall developers would have to work out a financial strategy which creates sharing of the costs, the benefits and at the same time does justice to both parties involved. How this can be done will be mentioned in Financial Strategy segments that follow.

Strategic Planning for Merchandise

The Mall management would also have to restructure the way products are sold in their malls. One of the ways could be to create mini malls within malls. For e.g. all stores in related categories could be placed in close proximity, so as to provide a better variety to the customers and at the same time increase impulse within the stores. Thus Apparel stores, Accessories stores and Shoes stores could be placed together and thus create complete segments of related products within the Mall. The malls could now organise specific promotion events for these sections or categories.

Another way of Collaborated Merchandise Planning would be by keeping the Retailers informed about Mall Events Calendar, so that retailers can respond to the promotions by bringing about slight modifications in their product mix for that particular period. This way the retailer benefits as well as the Mall Developer.

Developing the Team

To support these futuristic ideas of mall management, a competent team would need to be developed which is fully devoted to these aspects, whose primary focus is to be in touch with the customers psyche and constantly innovate promotion schemes. The team should ideally have a two three representatives who are reporting to one person. Each of these representatives may hold accounts of occupant retailers. Their primary responsibility would be to coordinate with these retailers and derive business out of them. At the same time it would also be essential for them to be in touch with their requirements. The team would also include traditional roles such as Marketing, Housekeeping etc.

Working out the Financials

Innovative ideas are of no use if they do not make business sense. Without a feasible financial strategy to backup, the strategy would be a failure. While financial strategies would always be specific to the Mall and Retailers, this strategy in its basic form incorporates the following strategies:

1)    Sharing of expenses between the Retailer and Mall would be undertaken. Possibilities include a fixed fee to be paid by all the Retailers to the Mall developer. This fee would be over and above the rentals being paid already. As a justification to the costs the strategic team may be held accountable for either footfalls or certain minimum number of events in a year. Since these events would always be held in consultation with the Retailer, retailer would stand to benefit directly from these events.
2)    Another strategy for Financial collaboration could be by way of Revenue sharing. The Mall developer gets cut out of the revenues of the Retailers during a specific promotion.

There are many more strategies that will be put forward in the articles to come. The essential thing in the current situation is that both the Mall developers and Retailers take this whole new idea with an open mind and begin the process of contemplation. The perfection of the system is a matter of evolution and will definitely happen in the time to come.

About the Author:

The author is Head of the Department - Retail, Pearl Academy of Fashion

Source: Pearl Academy of Fashion
Website – http://www.fibre2fashion.com/industry-article/14/1320/mall-management-strategies1.asp
Return to 123HelpMe.com