{"id":1719,"date":"2013-08-19T06:19:47","date_gmt":"2013-08-19T00:49:47","guid":{"rendered":"http:\/\/thirdeyesight.in\/blog\/?p=1719"},"modified":"2022-11-08T09:25:21","modified_gmt":"2022-11-08T09:25:21","slug":"shopping-malls-start-off-on-the-right-foot","status":"publish","type":"post","link":"https:\/\/myechoproject.com\/TES\/shopping-malls-start-off-on-the-right-foot\/","title":{"rendered":"Shopping Malls &#8211; Start-Off on the Right Foot"},"content":{"rendered":"<div class=\"row\">\n<div class=\"col-sm-4\"><img decoding=\"async\" class=\"img-fluid d-block lazyload\" data-src=\"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/lulu-mall.jpg\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\"><\/div>\n<div class=\"col-sm-8\">\n<p style=\"text-align: justify;\">If you&#8217;re planning to develop a mall, here&#8217;s a short-list of key issues you must address:<\/p>\n<p style=\"text-align: justify;\"><strong>Fail-proof the business plan by focussing on the customer:<\/strong> Focus on the development of retail brands and not solely on quick returns on investment. The primary responsibility should be that of catering to the consumer catchment and driving footfalls for the retail occupants. The other requirements follow from this simple premise. Also, a tenant-unfriendly revenue model that overloads the tenant with a high rent (whether fixed or as a percentage of sales) leads to a churn in tenants, and in combination with other factors, keeps the best tenants out of the mall making it unattractive to customer as well.<\/p>\n<\/div>\n<\/div>\n<p style=\"text-align: justify;\"><strong>Do a thorough recce of the catchment:<\/strong> Ask questions like &#8220;can the catchment support the development in terms of consumer footfall and spending?&#8221;, &#8220;Is there a connect between the needs of the immediate catchment and the occupants of the mall?&#8221;, &#8220;Are there too many malls in the catchment area?&#8221;<\/p>\n<p style=\"text-align: justify;\"><strong>Offer a good occupant mix:<\/strong> You cannot have mall occupants who have little relevance for the target consumer. Also, the retailers must complement each other in a healthy way rather than cannibalise customers and sales from each other.<\/p>\n<p style=\"text-align: justify;\"><strong>Ensure good access:<\/strong> Accessibility and connectivity to get the traffic smoothly in and out of the mall is a must; ensure there is adequate parking space.<\/p>\n<p style=\"text-align: justify;\"><strong>Avoid undersizing:<\/strong> A small-sized is a straight handicap because it will lack variety, and you run the risk of getting dwarfed by the next big mall that throws its hat into the ring. <em>[However, the specific size can vary depending on the state of development of your own catchment.]<\/em><\/p>\n<p style=\"text-align: justify;\"><strong>Focus on design:<\/strong> This involves making the mall brands \u2018visible\u2019, ensuring appropriate \u2018zoning\u2019 in terms of entertainment, multiplexes, kids\u2019 areas, food courts etc. This will result in better customer flow management. Bad design and poor customer flow management within the mall leaves large parts of mall \u201cinvisible\u201d to visiting consumers, or improper zoning that confuses customers and breaks up the traffic.<\/p>\n<p style=\"text-align: justify;\">Finally, remember, it&#8217;s not so much about the &#8220;square feet&#8221;, as about the feet that will occupy it! Focus on the consumers that you want visiting the mall and why they should return again and again.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>If you&#8217;re planning to develop a mall, here&#8217;s a short-list of key issues you must address to achieve success.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[25,27,212,215,33,60,36,235,62,37,270,43,44,46,48,1],"tags":[362,285,323,363,326,59,191,69,374,375,369,166,195,70,71,376,202,203,204,371,377,378],"class_list":["post-1719","post","type-post","status-publish","format-standard","hentry","category-apparel","category-branding","category-consumer","category-food-grocery","category-footwear","category-india","category-lifestyle-fashion","category-luxury","category-market-research","category-marketing","category-real-estate-2","category-retail","category-soft-goods","category-strategy","category-textiles","category-uncategorized","tag-customer","tag-customer-experience","tag-customer-experience-wow","tag-customer-insight","tag-customer-service","tag-india","tag-indian-market","tag-indian-retail-sector","tag-mall-management","tag-mall-planning","tag-malls","tag-modern-retail","tag-modern-retailing","tag-organised-retail","tag-organized-retail","tag-real-estate","tag-retail-boom","tag-retail-productivity","tag-retail-revolution","tag-shopping-centres","tag-shopping-experience","tag-shopping-malls"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Shopping Malls - Start-Off on the Right Foot - Third Eyesight<\/title>\n<meta name=\"robots\" content=\"index,follow\" \/>\n<link rel=\"canonical\" href=\"https:\/\/myechoproject.com\/TES\/shopping-malls-start-off-on-the-right-foot\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shopping Malls - Start-Off on the Right Foot - Third Eyesight\" \/>\n<meta property=\"og:description\" content=\"If you&#039;re planning to develop a mall, here&#039;s a short-list of key issues you must address to achieve success.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/myechoproject.com\/TES\/shopping-malls-start-off-on-the-right-foot\/\" \/>\n<meta property=\"og:site_name\" content=\"Third Eyesight\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/thirdeyesight\" \/>\n<meta property=\"article:published_time\" content=\"2013-08-19T00:49:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-11-08T09:25:21+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.thirdeyesight.in\/wp-content\/uploads\/2022\/09\/lulu-mall.jpg\" \/>\n<meta name=\"author\" content=\"Devangshu Dutta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@thirdeyesight\" \/>\n<meta name=\"twitter:site\" content=\"@thirdeyesight\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/shopping-malls-start-off-on-the-right-foot\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/shopping-malls-start-off-on-the-right-foot\\\/\"},\"author\":{\"name\":\"Devangshu Dutta\",\"@id\":\"https:\\\/\\\/myechoproject.com\\\/TES\\\/#\\\/schema\\\/person\\\/3387e3e154639976110997bbfd794504\"},\"headline\":\"Shopping Malls &#8211; 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