Use of technology in mall management and analysis

Delighted customers, performing Retailers and a profitable business. If a mall is to sustain a high profitability, the mall management has to ensure deliveryalong all the three areas. And this is common knowledge. What is uncommon is the fact that few malls are able to achieve high levels of performance in each of the above areas as the knowledge, effort and know-how to do so is difficult to come by and sustain.Today, technology can help overcome many of these hurdles to delivery and can add tremendous value to a mall business. Here is a brief look at each of these areas and how technology can add great value. Read more on Use of technology in mall management and analysis…

ONLINE GAIN vs OFFLINE PAIN

In this age where Social Media has taken everyone over by storm, your consumer, who could also be an opinion leader is sharing your brand experiences on the move without wasting a minute online all the time on the go and this, without even waiting to meet their peers in person. The truth of the matter is, these consumers spend more time on social media, than they do at your stores, outlets and at malls. Gone are the days from the Marketing Class when ‘Where are you consumers found?’ had a more conventional answer. It is high time that the brands admit to the fact that these consumers spend more time on social media, than they do at your stores, outlets and at malls. They are tweeting their experiences, asking friends for recommendations, saving what they like for future use and showing off what they bought. Yep, the consumer is now connected all through the buying process. The new age shopper has reduced the sales person to an insignificant medium in the buying process.

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Ian’s perception of the future of Retail in India

Q: What is the factor which is attracting people to the Indian retail market?

 It is a simple exercise of seeing how much opportunity there is in the Indian market. Here was a country of almost 1.3 billion people with little by the way of formal retail. For me the most exciting aspect was that they could develop a base using many of the lessons that the shopping centre industry has gleaned over the past 60 years or so and then come up with new innovations on a scale not easily to be repeated in the developed world. The opportunity to be involved in this and to create the opportunity for new job creation as well as upliftment of communities in helping them aspire to a better quality of life was just too enticing

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