The New Mall Math
- Don't arm-twist retailers into paying ever-higher rents, enter into revenue-share partnerships with them
- Clusters of malls are out, dispersed locations in. Aim for lower-cost cities, where malls are still a novelty.
- Must avoid: Clutter, dark spaces, corridors, bad hygiene
- Prevent visual fatigue by moving around stores, must have services for all-important women shoppers
- Have the right pricing mix of costly and less expensive products; be clear about customer mix, catchment area
- Sell off parts of the mall that aren’t working out to hotels, offices, BPOs, service apartments
50% of all malls will shut down in 2010
There was a time not so long ago, whenever we were bored, we visited “uncle and aunty” next door and everyone sipped cups of milky tea till the confab died a natural, cloying death. Over the...