Running head: CAN THE MAGIC BE RESTORED?
Suburban Regional Shopping Malls: Can the Magic Be Restored?
Upper Iowa University Suburban Regional Shopping Malls: Can the Magic Be Restored?
Imagine yourself as the manager of a struggling local suburban regional shopping mall. What do you think the mall should do to improve its performance?
According to the textbook, the retail life cycle consists of the introduction, growth, maturity, and decline. (Perreault, Jr., Cannon, & McCarthy, 2011) To keep a local suburban regional shopping mall from reaching its decline, one must spend time and money during the maturity phase to keep with today’s trends.
If a mall is declining, a manager must get more
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This means no more checkout lines and more service personnel to make your shopping experience a pleasure. This is already happening in Japan and other counties outside the US." (site article) Shopping via tagging will be a new concept that will be a big hit. See a cute pair of shoes on the girl across the street? Consumer will point and say "tag it". The smartphone will search the internet for that product and allow the consumer to see it and purchase that pair of shoes, right then and there. Everyone has been somewhere where they see something they like on someone, but are too afraid to ask the person where he/she got the item or even how much they paid for it. Experience Rethink author Brian Regienczuk has this to say, "As you move through your day, it will be easier to tag items you like and buy them immediately or add them to your shopping list. For example, a purse or pair of shoes on a passerby catches your eye. You say “tag item” as you look at the item and immediately receive confirmation that the item has been identified. Buy it now or add it to a list for later." (Year of article) These trends will affect suburban regional shopping malls negatively at first, but as time goes by, consumers will still be drawn to the feeling and concept of strolling through malls, talking with their friends, and paroozing in and out of stores. Things that will be lost with the online shopping world.
What new retail concepts