Mall-Management key aspects summaries.pdf

An introduction into the management of Malls

1. KEY ASPECTS OF MALL
MANAGEMENT

2. INTRODUCTION
Shoppingmallsorshoppingcentresarephysical
spacescreatedforretailing,fun,leisureand
entertainmentandhavemanyelements.
Primarily,amallcanbedividedintovariouszones:
Retailing:Pureshopping
Entertainment:Movietheatres,gamingzones,video
parlours
FoodCourt:Finediningrestaurants
Atrium:Commonarea,publicspaces,prayerrooms,
restrooms,kidsarea,parking,etc.

3. CONTD..
Now,tomanagealltheseactivitiesinahuge
space,aspecializedskillsetisrequired.Various
functionsundermallmanagementare:
Leasing:sellingthisideatoretailersandothertenants
Mallmarketing
Promotionsandactivities
Security
Facilitiesmanagement
Hence,mallmanagementensuresthesmooth
runningofthemall,makessurethatthereis
coordinationbetweenvariousactivitiesand
tenants,settlesdisputesetc.

4. CLASSES OF MALLS
Inmanycases,regionalandsuper-regionalmalls
existaspartsoflargesuperstructureswhichoften
alsoincludeofficespace,residentialspace,
amusementparksandsoforth.
❑Regionalmalls
❑Superregionalmalls
❑Outletmalls

5. 1. REGIONAL MALLS
Aregionalmallis,pertheInternationalCouncilof
ShoppingCenters,intheUnitedStates,ashopping
mallwhichisdesignedtoservicealargerareathana
conventionalshoppingmall.Assuch,itistypically
largerwith400,000sqft(37,000m
2
)to800,000sqft
(74,000m
2
)grossleasableareawithatleasttwo
anchors
[9]
andoffersawiderselectionofstores.Given
theirwiderservicearea,thesemallstendtohave
higher-endstoresthatneedalargerareainorderfor
theirservicestobeprofitable.Regionalmallsarealso
foundastouristattractionsinvacationareas.

6. 2. SUPER REGIONAL MALLS
Asuperregionalmallis,pertheInternational
CouncilofShoppingCenters,intheU.S.a
shoppingmallwithover800,000sqft
(74,000m
2
)
[9]
ofgrossleasablearea,and
whichservesasthedominantshopping
venuefortheregioninwhichitislocated.

7. 3. OUTLET MALLS
Anoutletmall(oroutletcentre)isatypeofshopping
mallinwhichmanufacturersselltheirproducts
directlytothepublicthroughtheirownstores.Other
storesinoutletmallsareoperatedbyretailersselling
returnedgoodsanddiscontinuedproducts,oftenat
heavilyreducedprices.Outletstoreswerefoundas
earlyas1936,butthefirstmulti-storeoutletmall,
VanityFair,locatedinReading,PAdidn'topenuntil
1974.BelzEnterprisesopenedthefirstenclosed
factoryoutletmallin1979,inLakeland,TN,asuburb
ofMemphis.

8. COMPONENTS
Foodcourt
consistsofanumberoffastfoodvendorsofvarioustypes,
surroundingasharedseatingarea.
Departmentstores
WhentheshoppingmallformatwasdevelopedbyVictor
Grueninthemid-1950s,signinglargerdepartmentstores
wasnecessaryforthefinancialstabilityoftheprojects,
andtodrawretailtrafficthatwouldresultinvisitstothe
smallerstoresinthemallaswell.Theselargerstoresare
termedanchorstoreordrawtenant.Anchorsgenerally
havetheirrentsheavilydiscounted,andmayevenreceive
cashinducementsfromthemalltoremainopen.In
physicalconfiguration,anchorstoresarenormallylocated
asfarfromeachotheraspossibletomaximizethe
amountoftrafficfromoneanchortoanother.

9. LEGAL ISSUES
Onecontroversialaspectofmallshasbeentheireffective
displacementoftraditionalmainstreets.
Manyconsumersprefermalls,withtheirspaciousparking
garages,entertainingenvironments,andprivatesecurity
guards,
Overdowntown,whichoftensuffersfromlimitedparking,
poormaintenance,andlimitedpolicecoverage.

10. TYPES OF SHOPPING FACILITIES
Big-boxstore(supercenter,superstore,or
megastore)
Stripmall(shoppingplazaormini-mall)
Plaza(openurbanpublicspace,suchasacity
square)
Market
Mainstreet(centralbusinessdistricts)
Highstreet(citycenters)
Townsquare(traditionaltown)
Powercentre(retailpark)
Lifestylecenter(shoppingcenter)
Outletmall(factoryoutlet)

11. PLANNING CONCEPTS
Publicspace
Apublicspacereferstoanareaorplacethatisopen
andaccessibletoallcitizens,regardlessofgender,race,
ethnicity,ageorsocio-economiclevel.
Gruentransfer
TheGruentransferreferstothemomentwhena
consumerentersashoppingmall,and,surroundedby
anintentionallyconfusinglayout,losestracktheir
originalintentions.Spatialawarenessoftheir
surroundingsplayakeyrole,asdoesthesurrounding
soundandmusic.Theeffectofthetransferismarkedby
aslowerwalkingpaceandglazedeyes.