Malls used to be the center of the shopping universe. However, the pandemic’s impacts, the growth of e-commerce, and the increased overhead of operating a physical store have all had an influence on foot traffic at shopping malls.
That does not imply that malls will completely disappear in the future. However, in order to stay up with the times, they will not look like anything we have ever seen.
Data is being used by tenants and retail mall owners to navigate the future. With over 15 data inputs, a full 90 days of prediction feeds, and a 94% correlation to ground truth, pass by offers the greatest accuracy in the market.
AR Or Augmented Reality
The stores at shopping malls are arranged in intricate systems, one after the other, and are constantly packed with patrons.
Even when you are looking for stores you have already visited, it is simple to get lost. For these reasons, augmented reality (AR) navigation-based directions can be helpful.
On the other hand, using the mall navigation system saves time when looking for directions. It will enhance the clientele’s experience, foster greater customer loyalty, and encourage sales.
Indoor augmented reality (AR) navigation is another advantage that helps users find the quickest or pre-planned path to their destination (restaurant, shop, etc.).
Malls gain a competitive edge when customers can navigate precisely to a parked automobile.
Because it will save them time rather than waste it searching for a car in a congested parking lot; also, a customer may quickly go to their car using AR navigation, eliminating the need for them to walk far while carrying heavy baggage.
Multichannel Encounters
It is increasingly essential to satisfy the consumer need for omnichannel solutions that seamlessly blend digital and in-store interactions.
Offering customers the choice to purchase online and pick up in-store blends the ease of online shopping with the promptness and control of in-store pickup. This is an example of omnichannel marketing. The upcoming Tycoon Terraces by Globe Estate & Builders will have this feature.
Social Media and Involved Communities
Shopping centers are becoming essential social hubs that promote community connection and engagement in addition to providing retail and entertainment options.
Events, exhibitions, and cultural activities are frequently held at malls, giving local performers, artists, and business owners a stage on which to display their skills.
These neighborhood-focused projects not only improve the overall mall experience, but they also help to create a lively, welcoming environment.
Marketing Based on Location
Since smartphone users rarely give up their gadgets, the customer’s location information obtained via his smartphone is the best representation of his preferences.
As a result, location-based promotions boost customer attraction and sales at stores. It is true that location-based marketing works far better than traditional marketing.
Similar to this, before clients approach the store, in-app advertising can display discounts, special offers, new collections, and other promotional information.
Moreover, because banners don’t need to be printed and content can be readily updated within the system, it is more profitable for shopping centers than traditional advertising.
Shopping malls can therefore increase income and consumer engagement by utilizing both marketing tools.
Technology For Automating Logistics
Artificial intelligence (AI), robotics, and data analytics are all combined with logistics automation technology to quickly change the retail industry.
Smart shelves, which are gadgets that track inventory levels in real-time and automatically place replenishment orders when levels are low, are among the most impressive instances in the retail industry.
Retailers can make better judgments about how to service their consumers and run their businesses more effectively with the information provided by this level of insight.
Then, by utilizing data from hardware and software for data capture, AI can analyze consumer trends and develop accurate forecasting models that will assist optimize inventory, personalize the shopping experience, and increase engagement.
Interactive Display Cases
The usage of interactive kiosks and digital signage is another revolutionary trend. Together with directions to stores, these technologies can give customers up-to-date information about events, promotions, and specials.
In heavy foot traffic locations, they can also be utilized to display interactive adverts that draw in customers and entice them to make purchases.
Entertainment And Leisure
Shopping centers such as Tycoon Terraces Bahria Town Lahore have positioned themselves as hubs for entertainment as well as leisure, offering a variety of recreational options in addition to shopping.
Malls have become all-encompassing entertainment hubs with the addition of movie theaters, arcades, indoor amusement parks, and even ice rinks.
The incorporation of these leisure amenities not only draws customers but also promotes return visits, resulting in an immersive environment where people may dine, shop, and engage in a variety of entertainment activities in one location.
For retail centers, implementing the ever-changing array of smart technologies is not without its problems. A capital investment is always necessary.
It is more challenging in older malls, but you still need to consider what would draw in customers.
Some consumers find AI, push alerts, and related technology unsettling or unsettling. While shoppers are prepared to offer up a certain amount of personal data, shopping center owners and retailers need to make sure they don’t cross a line and alienate their audience.
These objections can be addressed with the correct marketing messaging and incentives.
