A mall's-eye view
The retail industry is ever-changing, with shoppers now looking to malls as a place of both business and socialization. A constant evolution of attractions is needed to entice them to visit a center and then keep them coming back on a consistent basis.
Savvy mall owners are challenged to practice smart retailing and deliver creative, on-trend marketing tactics when leasing, marketing and operating shopping centers. PREIT, for example, has managed to attract sought-after, first-to-market and international retailers to a number of malls, and has expanded upon differentiation strategies, increased amenities, and redesigned digital campaigns to increase convenience and continue engaging socially with mall shoppers. That’s what it takes to succeed in today’s competitive marketplace.
In fact, smart, responsive tenanting is an integral part of PREIT’s retail schematic. Consider the lineup of new tenants open or contracted to open in the PREIT portfolio of malls: Top Shop at Springfield (Virginia) Town Center; Uniqlo at Cherry Hill (New Jersey) and Willow Grove (Pennsylvania) Park malls; Primark at Willow Grove Park; and now Lululemon at Cherry Hill Mall. PREIT attracted the first Century 21 Department Store to the Philadelphia region, and Field & Stream to Capital City Mall. But a shopping mall requires more than just new tenants to be considered great.
Providing amenities that make shopping more fun or more convenient is key to differentiating properties and making them a shopper’s top choice. At Springfield Town Center, for example, Deliv home-delivery service provides same-day service to mall shoppers at no additional charge. And coat- and bag-check services free customers to shop unencumbered. These are the amenities that can set one mall apart from another.
Heavily trending are digital advancements that keep communication flowing between malls and shoppers through a variety of avenues. Mall apps, social media pages, websites and e-blasts to loyalty club members allow shoppers to easily access mall information, upcoming event details, sales, style tips, store opening announcements and more. Social marketing campaigns are another way to keep in touch with shoppers; PREIT, for example, will be utilizing iBeacon technologies to connect to shoppers using the PREIT mall app at the property. These services, along with complimentary Wi-Fi, electronic charging stations and a host of other amenities, are what can make the shopping experience unique and memorable.
Heather Crowell is VP investor relations and corporate communications for Philadelphia-based shopping center company PREIT.