Malls have a long track record of offering a place for shopping and socialising. Containing luxury brands, restaurants , cafes, playgrounds, education centres and movie theatres, malls have become neighbourhoods of their own.
They draw on the power to have a diversified environment to appeal to a variety of different audiences, and more and more retail and pop-up experiences are being provided, as well as capturing the rise of e-commerce companies turning to physical locations to provide IRL for their customers.
Issue or a chance?
In relation to the Mark Cohen, director of retail studies says, “The Internet is now hollowing out the great mall.” Mall operators need to innovate as they compete with growing numbers of online shopping customers. Credit Suisse, the multinational financial services company, has also projected that online fashion revenues would double to 35.7% in 15 years and that by 2022, up to a fifth of the 1,211 malls will close their doors.
However, what we are currently witnessing is an exciting transformation in the industry and a revival in physical stores instead of hearing developments such as the demise of brick-and – mortar. The rise of e-commerce, in reality, is not a challenge to malls, it is a call for creativity and a chance for cooperation.
Pop-up shops to get in the game
In-store shopping appears to have value. They provide an irreplaceable shopping experience, encourage customers to try out and evaluate the quality of goods, and provide a space for face-to – face contact between salespeople and customers.
In reality, giant e-commerce companies such as China’s Alibaba have recognised this and they are increasingly looking for ways to open physical stores.
Just as e-commerce firms were looking to pop up, more and more malls were looking for pop-up store options to tackle the closing of department stores, fill empty spaces and enliven the shopping experience. Short-term pop-up shops have shown that they increase foot traffic, target millennial demographics, and raise overall revenue from property.
Malls are not static centres for impersonal purchases, but living hubs of consumption and enjoyment that change with the seasons, inspiring and vibrant.
For mall owners looking to liven up the dynamic in their malls, pop-up shops create excitement and are a great solution. Malls provide a forum for major brands that increasingly use pop-ups to create buzz and attract attention to new products through partnering with pop-up shops. Furthermore, pop-ups are a way for mall owners to open their doors to start-up brands and e-commerce firms that are keen to enter and meet customers in the physical market.
In the form of pop-ups, partnering with existing businesses, start-ups and e-commerce businesses will reinvigorate malls with exciting and rotating deals. Pop-ups will add another degree of liveliness to mall owners and give clients an additional incentive to visit.
Also, another thing with malls booths is, it isn’t mandatory for you to have it in one location all year long. You can have them at different malls at different times of the year. So you can find new businesses in new locations each day. If you think that buying a booth is expensive. Believe me, you can have your own booth designed at the desired amount.
We at Myrsa make this idea of renting out your booth very easy and convenient. You just need to list your mall booth on our website and start earning.
Just a few steps and you are ready to get started. Isn’t it one of the easiest ways to earn. Sit at home and control whats been done in your booth with Myrsa. Stay tuned for more unique ideas to earn. Subscribe to our blog at www.myrsa.in.