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How Shopping Malls Can Improve Sales Through Marketing
How Shopping Malls Can Improve Sales Through Marketing
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Waleed Al-Toukhi is a dynamic and creative branding & marketing expert with more than 16 years of experience developing and executing business and marketing strategies. He has demonstrated the capability to scale marketing initiatives in line with growth objectives. Waleed gained an indepth understanding of marketing and communications strategies and he has a strong record of managing and motivating teams that achieve results.
In a retail landscape that becomes more challenging by the day, a good sales marketing plan is essential to entice more customers and retain tenants. This is also especially true for urban environments where a multitude of options, landscapes and entertainment prevails. This article will explore how shopping malls can increase traffic to their spaces. But before we explore the solutions, let’s look at the challenges that shopping malls face today and why a marketing plan is necessary. CHALLENGES OF MALL MARKETING
Dynamic Market Shopping malls today have become centres designed to entertain and satisfy visitors. As a result, there is a significant shift in how people perceive a shopping mall. They want an experience that transcends from regular store shopping to something leisurely and fun.
Today, the retail formats are dynamic and constantly being reinvented. Due to this unpredictability, nobody knows how long these spaces will stay active and where the sector is headed. A Rise in Online Shopping Trends We have recently observed a surge in online shopping, forcing shopping mall owners to explore increasing traffic to their stores. Investment funds and giant multinationals control shopping centres. Mall owners lease their premises to retailers and franchisees who operate their business in that space. However, with the rise in online shopping, more people stay at home rather than visit malls to buy the things they want. With low traffic, store owners are forced to assess whether their physical outlet is profitable. If their online store performs better than their retail store, they will eventually consider closing their mall store and concentrate on online sales.
This is the main problem for mall owners who rely on retailers and franchisees to profit from their space. New Competitors As retail stores are threatened by online shopping, food delivery platforms and on-demand television series are also taking the limelight away from malls and bringing entertainment and food into homes with greater convenience. This means that shopping malls no longer compete with high street stores or other shopping centres in large cities but with digital platforms that transform the user experience. Now let’s explore how marketing can help shopping malls to attract and retain tenants and customers.
Waleed Al-Toukhi
Marketing Executive Director Abdullah Al Othaim Investment Co.
A sound marketing strategy is a sure ticket to increasing customer traffic in shopping malls. Below are some ideas and strategies to increase the footfall of your malls.
Attract shoppers by creating a prominent online presence. Use promotions, deals, and online advertising to increase sales.
Collect contact details and target customers with personalized communications. Conduct giveaways and promotions for a new product launch or best brands. Share exclusive rewards for repeat customers to encourage more sales.
MARKETING STRATEGIES THAT WORK
Shopping mall owners and managers can use various tips and tricks to engage retailers and customers to achieve the ultimate goal: higher sales. A good marketing strategy can help malls remain profitable while maintaining their competitive edge.
Here’s a run-down on marketing strategies that truly work.
Social Media Presence
You can use social media for advertising promotions, events, giveaways, etc. But, more importantly, with the right marketing strategy, you can create a brand that is identifiable and appealing. Social media apps such as Facebook and Instagram allow businesses to use creative marketing to build a persona and tone that suits their brand.
Management can also use influencers and bloggers to promote the mall and its facilities. However, when devising a social media marketing strategy, keep the dynamic nature of digital media in mind because one strategy that works today might not be as effective tomorrow. Boost Sales with Promotional Codes and Coupons
Everyone loves a good deal; therefore, coupon deals never go out of fashion. Promotional codes work similarly by offering customers a good discount, encouraging them to buy more. When doing this, think about the various brands in your mall and remember your ultimate marketing goal. Determine which products or brands you want to promote. Do you like to offer a discount on a new product launch or new retail openings? Do you want to encourage holiday spending or reward customers for signing up for a newsletter? Entertain and Engage Customers
People come to the mall for its ambience and entertainment factor. If shopping was their only goal, they will stay home and order their favourite items online. Mall management can use these factors to attract, engage and entertain their customers. Through social media, a mall can increase its brand awareness and launch interactive and engaging promotions that online users would enjoy. Since customer preference has shifted towards easy-going and laid back marketing campaigns instead of hardselling ones, marketing strategies should be formed accordingly. You can organize a mini-game featuring your mall’s logo and branding colours. You can even include other brands in the mix to engage your customers and meet your promotion goals. FINAL THOUGHTS
When running a shopping mall, you should realize the importance of both your tenants and customers. Promote their stores and make sure their business remains thriving. Create online buzz through usergenerated content and keep your customers connected. Moreover, you can host events and giveaways, offering customers unique experiences to foster customer loyalty. You should generate excitement whenever a new store is opening in your mall!
2022
CALL FOR ENTRIES
DEADLINE: 26 AUGUST 2022
The Middle East and North Africa Shopping Centre and Retailer Awards are designed to honour outstanding achievements in Retail, Marketing, NOI Enhancement, Design & Development of Retail Properties, Retail and Service Excellence. The Awards will be presented at the Retail Congress MENA 2022 on 6th December
2022 at the Ritz Carlton Hotel DIFC, Dubai, United Arab Emirates.
FOR ENTRIES IN THE TRADITIONAL MARKETING AND NOI ENHANCEMENT CATEGORIES
The majority of the programmes must have been implemented between 1 August 2021 to 31 July 2022
FOR ENTRIES IN THE DESIGN AND DEVELOPMENT CATEGORIES
Retail projects and stores opened within the period commencing 1 August 2021 to 31 July 2022
FOR ENTRIES IN THE RETAIL EXCELLENCE, RETAIL PROFESSIONAL OF THE YEAR, BEST MENA RETAIL BRAND
Examples of performance and initiatives accomplished within the period commencing 1 August 2021 to 31 July 2022
FOR ENTRIES IN THE SERVICE EXCELLENCE
Examples of performance and initiatives accomplished within the period commencing 1 August 2021 to 31 July 2022.
