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retailing_principles_2e_ch10.pptx

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Retailing Principles: Global, Multichannel, and Managerial Viewpoints

Linda Rose Poloian

All rights reserved. No part of this presentation covered by the copyright hereon may be reproduced or used in any form or by any means—graphic, electronic, or mechanical, including photocopying, recording, taping, or information storage and retrieval systems—without written permission of the publisher.

ISBN: 978-1-56367-7441

Unit 3

Store Location and Planning

Shopping Centers and Malls

Chapter 10

Learning Objectives

After completing this chapter you should be able to:

Describe the basic types of shopping centers

Discuss several trends in shopping center development

List several examples of centers that provide experiential retailing and acknowledge why they are successful

Document how older malls are adjusting to competition from newer facilities

Explain how developers work with their management teams to achieve profitability

Poloian Chapter 10

Introduction

The Dubai Mall is the largest mall in the world— for the moment. It is located in Downtown Burj Dubai (UAE), a neighborhood described as the “new heart of the city”

Poloian Chapter 10

Classification of Shopping Centers and Malls

Shopping center types

Open-air centers

Strip/convenience center

Neighborhood center

Community center

Theme/festival center

Lifestyle center

Power center

Outlet center

Poloian Chapter 10

Classification of Shopping Centers and Malls

The Pompano Shopping Center qualifies as a neighborhood mall, with Publix Supermarket as its anchor and approximately a dozen specialty stores, services, and restaurants

Its planet-like dome provides visibility and uniqueness

Poloian Chapter 10

Classification of Shopping Centers and Malls

The Marina Village at Atlantis, Bahamas (left), encourages guests to enjoy the pace of shopping by providing lots of open and casual seating areas among stores and restaurants, including Ben & Jerry’s (right), in this upscale, tropical wonderland of a lifestyle center

Poloian Chapter 10

Classification of Shopping Centers and Malls

Trends in shopping centers and malls

Focused specialty centers

Venice in Vegas

Ethnicity inspires

Lifestyle magnets

Historical buildings

Outlet centers revitalize

Outlet malls go upscale

Outlet destination centers

International outlet malls

Poloian Chapter 10

Classification of Shopping Centers and Malls

Is this location Venice Italy, or Las Vegas Nevada?

The Grand Canal Shoppes at the Venetian Hotel assemble many extra touches that make them a shoppertainment destination

Poloian Chapter 10

Classification of Shopping Centers and Malls

Adapted historical buildings like the Bourse in Philadelphia, once the heart of the financial and commodities trade, makes inviting retail malls

Poloian Chapter 10

Classification of Shopping Centers and Malls

Hybrid shopping centers

Value centers

Megamalls

Mixed-use centers

Vertical malls

Underground malls

Crystal City Mall, La Carrousels du Louvre, Chelsea Market

Experiential retailing influences malls

The Metreon, Carnaby Street, Lotte World

Poloian Chapter 10

Classification of Shopping Centers and Malls

Simon Property Group owns Premium Outlet Centers in the United States and international markets

The architecture in this high-end Japanese outlet center, Kobe-Sanda Premium Outlets, bespeaks wealth so shoppers will feel comfortable in an atmosphere that addresses their need for luxury while providing value

Poloian Chapter 10

Classification of Shopping Centers and Malls

Union Station in Washington, D.C., is the epitome of a mixed-use center

Travelers can purchase their Amtrak tickets, then enjoy shopping and dining while waiting for their trains

Both locals and tourists find sustenance at the large food court on the lower level

Poloian Chapter 10

Classification of Shopping Centers and Malls

The Manhattan Mall (Left); After a decade in which specialty stores dominated the space, JCPenney opened on the main level, bringing the department store format back to the building in 2009 (Right)

Poloian Chapter 10

Classification of Shopping Centers and Malls

You’ll find Chelsea Market in the lower level of a former factory in New York City’s meatpacking district

Visitors can buy fresh foods, bakery goods, freshly butchered meat, and a seasonal pumpkin or two at this site, which is designed to serve both wholesale buyers and retail shoppers

Poloian Chapter 10

Classification of Shopping Centers and Malls

Lot 10, an urban vertical mall in the heart of Kuala Lumpur, Malaysia, has reflected evolving visions of the mall since its inception in the 1980s

The mixture of stores presently reaches out to local retailers and designers, as well as global brands

Poloian Chapter 10

Shopping Center Challenges and Strategies

Town center development

Lifestyle center growth

Demalling

Expansion

Spatial reconfiguration

Poloian Chapter 10

Shopping Center Management Trends

Stronger marketing orientation

Promoting malls as brands

Coping with lost revenue

Retenanting the shopping center

Bumpbacks restore image

Reducing mall hours

Presence of service retailers

Management training programs

Poloian Chapter 10

Shopping Center Management Trends

Top ten property owners in the U.S.

Poloian Chapter 10