Malls and Meeting Places
The traditional mall is evolving faster than ever – owners and operators of assets are embracing meeting place methodology and are under pressure to stay relevant to a new generation of savvy ‘on-demand’ digital shoppers.
Merging the online and physical customer experiences requires smart strategies and smart use of technology and also improves financial and operational performance. Next generation real estate and retail businesses need to evolve quickly including new leasing models, beyond-rent revenue streams, collaborative selling and data-sharing between owners, operators and tenants.
Consumer behavior is changing at a pace just behind technology, which is resulting in more turnover rents and increased digital and omnichannel focus. Forward-thinking mall owners realize the value of digital optimization of their meeting places and the need to improve digital synergies with retailers. The need for personalized shopping experiences, within one smart space ecosystem, is critical to improving the commercial performance of the mall or meeting place, in order to meet and exceed the expectations – especially in a post-COVID-19 world.
Organizations must invest in digital, omnichannel and ecommerce strategies, capabilities, technology, and talent in order to survive – let alone thrive – in today’s fast-paced market. Developing and executing a digital growth strategy involves mastery across many disciplines – a key budgetary and investment dilemma for landlords.
FitForCommerce Digital Mall Assessment
FitForCommerce Digital Mall Assessment is the first step to bringing traditional malls into the digital reality – meeting and exceeding shopper expectations through personalized experiences and optimizing operational performance of “on-demand” retailing.
The comprehensive FitForCommerce Digital Mall Assessment provides owners and operators with an industry-standard clear and concise review of a mall’s digital and omnichannel performance. Based on a 120-point assessment (including criteria such as tenant and mall shopping tools, customer experience/journey, services, marketing and innovation), we provide a gap analysis highlighting weaknesses and opportunities across the entire digital ecosystem.
In addition to webstore and mobile commerce, we drill down into the in-mall services and customer engagement, loyalty cards, parking, ambient media, last-mile logistics, data collection and utilization as well as retail tenant partnerships.