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Lifestyle Shopping Mall: Best Place for the future of retail

Lifestyle Shopping Mall: Best Place for the future of retail
By Dr. Gerald Lang

Lifestyle Shopping Mall: Best Place for the future of retail

  1. 1. Prof. Dr. Gerald Lang KEDGE Business School & Ecole Polytechnique Paris Lifestyle Shopping Malls: Best place for the future of Retailing LifestyleShoppingMalls LifestyleShoppingMalls LifestyleShoppingMalls LifestyleShoppingMalls LifestyleShoppingMalls
  2. 2. BIFEX2015–LigestyleShoppingMalls LifestyleShoppingMalls 1. Shopping Malls:Where they come from & where they are 2. Ongoing and future retail trends 3. Lifestyle Shopping Malls: Best place for the future of retailing 4. Challenges for Lifestyle Shopping Malls
  3. 3. BIFEX2015–LigestyleShoppingMalls Shopping Malls: Where they come from Al-Hamidiyah Souq Damascus
  4. 4. BIFEX2015–LigestyleShoppingMalls Shopping Malls: Where they come from GalleriaVittorio Emanuele Milano 1867
  5. 5. BIFEX2015–LigestyleShoppingMalls Shopping Malls: Where they come from Country Club Plaza Kansas City 1922
  6. 6. BIFEX2015–LigestyleShoppingMalls Shopping Malls: Where they are
  7. 7. BIFEX2015–LigestyleShoppingMalls 2. Ongoing and future retail trends 1. Shopping Malls:Where they come from & where they are 3. Lifestyle Shopping Malls: Best place for the future of retailing 4. Challenges for Lifestyle Shopping Malls LifestyleShoppingMalls
  8. 8. BIFEX2015–LigestyleShoppingMalls Ongoing and future Retail trends E-commerce Multi-Channel Cross-Channel Omni-Channel RetailTechnology Experience and Lifestyle Shopping
  9. 9. BIFEX2015–LigestyleShoppingMalls Ongoing and future Retail trends E-commerce Multi-Channel Cross-Channel Omni-Channel Big brands reduce number of physical stores Convenient shopping by e- and m-commerce www.deadmalls.com ?
  10. 10. BIFEX2015–LigestyleShoppingMalls Ongoing and future Retail trends RetailTechnology
  11. 11. BIFEX2015–LigestyleShoppingMalls Ongoing and future Retail trends Experience and Lifestyle Shopping Shop to show who I am Shopping as travel destination Spend time with friends & family Gather, wander around, and discover Easy access Spend less on products but more on experience Entertainment Mindless vacation Time constraint
  12. 12. BIFEX2015–LigestyleShoppingMalls Ongoing and future Retail trends E-commerce Multi-Channel Cross-Channel Omni-Channel RetailTechnology Experience and Lifestyle Shopping
  13. 13. BIFEX2015–LigestyleShoppingMalls 3. Future Shopping Malls: Best place to live the future of retailing 1. Shopping Malls:Where they come from & where they are 2. Ongoing and future retail trends 4. Challenges for Lifestyle Shopping Malls LifestyleShoppingMalls
  14. 14. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Instant gratification of shopping Showrooming of brands Service (ex: Apple, Lululemon) Exchange and pick-up point Impulse buying Counsel and advise from store staff Physical Omni-Channel locations for brands & customers
  15. 15. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Technology Lab for brands and social media
  16. 16. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Location Based Services: Guide the customer
  17. 17. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing BeaconTechnologies in and around the stores of a mall Track movements of a smartphone in and between the stores of a mall Use technology to connect consumers to the shopping mall (Loyalty programs, wayfinding through the mall etc.) Sending personalized messages with customized offers and targeted advertisement
  18. 18. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Malls: Leveraging technology on mall level Online Shopping Mall
  19. 19. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Lifestyle experiences for all needs and senses: Entertainment  Create total customer experience: Entertainment, leisure, food & shopping, services…  Complement this experience with digital layers  People watching is part of the fun  Entertainment actors become the new anchors:  bowling, aquariums, children's edutainment, adult eatertainment, playgrounds, sport venues (ski, ice rink), art exhibitions and special events  Upscale restaurants, fine dining
  20. 20. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Example:The Beach Dubai – UAE Shopping, Beach, Restaurants, Outdoor Cinema…
  21. 21. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Example: Mall of America – Bloomington MN - USA Shopping, IndoorTheme Park, Fine Dining, Health track…
  22. 22. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Lifestyle experiences for all needs and senses: The Mall as the new Downtown Gathering place for the community Mall becomes an important part of everyday life Create a city within a city, where commerce plays an important, but not exclusive role Consumers consolidate their trips to save time: Farmer’s market, food & shopping, health club, green spaces and natural elements, village-like settings, public services… People watching, communal experience with family and friends Events: concerts, exhibitions…
  23. 23. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Example: LeedsTrinity - UK
  24. 24. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Example: Siam Paragon Mall Bangkok –Thailand Shopping, Language School, Aquarium, Cooking School…
  25. 25. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Lifestyle experiences for all needs and senses: Shopping Malls as destinations For discovery, experimentation, and entertainment To complete a tourist recreational experience (airport mall) Shopping trips like visiting a national monument
  26. 26. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Examples: Cashel Mall Christchurch – NZ
  27. 27. BIFEX2015–LigestyleShoppingMalls Lifestyle Shopping Malls: Best place for the future of retailing Examples: Fiordaliso Shopping Center Milano - Italy
  28. 28. BIFEX2015–LigestyleShoppingMalls International Development of Franchise Brands 4. Challenges for Lifestyle Shopping Malls 1. Shopping Malls:Where they come from & where they are 2. Ongoing and future retail trends 3. Future Shopping Malls: Best place to live the future of retailing LifestyleShoppingMalls
  29. 29. BIFEX2015–LigestyleShoppingMalls Challenges for Lifestyle Shopping Malls Retail and Entertainment tenant mix  Create a sense of novelty More experimentation with formats More service oriented retail in the malls RatioTenant/Public space: trend from 70/30 to 50/50 More pop-up stores and tenant turnover Mall owners are in store leasing – business… … and in entertainment, dining and leisure business !
  30. 30. BIFEX2015–LigestyleShoppingMalls Challenges for Lifestyle Shopping Malls Financial Impacts ᵠ
  31. 31. BIFEX2015–LigestyleShoppingMalls Challenges for Lifestyle Shopping Malls Future Developments and Opportunities Digital Natives and millennials use more technology Growing Middle class in Latin America and Asia: consumption & pleasure Lifestyle malls will be increasingly green & sustainable Developing a sense of “space”: design, architecture, ambiance Increased fusion of residential, commercial, retail and entertainment Link malls to the specific environment Malls have to leverage their key advantage: Physical presence
  32. 32. BIFEX2015–LigestyleShoppingMalls Challenges for Lifestyle Shopping Malls Future Developments and Opportunities Future lifestyle malls will focus on a unique experience for the visitor with innovative technologies which cannot be duplicated online providing an experience superior to online shopping Life style malls will have to continuously track innovation and create customer experience …as retailers have done all times !
  33. 33. BIFEX2015–LigestyleShoppingMalls ‫شكرا‬

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