Shopping Malls, also called shopping arcades, are places where people can shop. They typically have restaurants, stores, theaters, and other services. Often, these malls have parking areas to accommodate motorists. A shopping mall may be a single building or a network of connected buildings that include many stores. Some are anchored by department stores.
Traditionally, shopping malls were conceived as social spaces to allow people to interact in a relaxed manner. But, as urbanization has continued, consumers are relocating to smaller places. In this new context, shopping malls will need to move beyond commoditized shopping experiences to offer a broader value proposition to consumers.
Research on the mall has identified a number of factors that define mall utility. These include travel time, distance traveled, brands carried, and the number of stores.
Many malls now incorporate natural elements to make them blend in better with their surroundings. They are also incorporating a large amount of glass to allow in natural lighting. Moreover, some malls are focusing more on the use of temporary flexible spaces. Similarly, they are experimenting with wood floors and other elements that add to the ambiance of a mall.
As the role of the mall is evolving, some researchers are examining models for how consumers choose a mall. This type of research is not limited to the U.S., but follows the practices of countries such as India and the Philippines.
The research on malls is being guided by retail gravitational approaches, which assume that malls will be differentially attractive as a function of utility. Those models assume that consumers will respond favorably to malls that are characterized by the following characteristics: a large number of shops; easy access; the ability to shop in multiple locations; and a convenient experience.
While malls are still a popular place for shoppers, consumers are looking for more experiences than just shopping. Some consumers want to get a taste of the latest trends. Others are seeking experiences that can elevate their social status. By combining the two, malls can play a valuable role in suburban societies.
The mall is still a central player in many urban societies. However, there are some global trends that are converging to cause this to change. Among these are a growing middle class, a rising urban population, and sustainability concerns.
For example, some malls are experimenting with the concept of a “curated mix” of stores, which will add a level of novelty to their offerings. Other examples include pop-up stores and kiosks, which will give the consumer a sense of surprise.
In addition, some malls are rethinking the types of stores that consumers will find appealing. Rather than relying on established franchises, developers are exploring the concept of a “curated” mix of specialty stores.
Shopping malls are a convenient, enjoyable way to shop. But, with the proliferation of online shopping options, it is important that the mall focus on the convenience of its customers rather than the commoditization of the shopping experience.