Why Shopping Centre Commercialisation is so Important
Today’s retail landscape is changing fast. Consumers are shifting their spending from traditional stores to online channels and mobile devices, and they are also downloading new apps to support their shopping habits.
In addition, with millennials preferring experiences rather than products and services, retailers need to create more dynamic spaces that combine the digital with the physical to keep customers coming back for more.
The rise of virtual reality and augmented reality technologies has redefined the future of retail forever, but this trend alone is not enough to save shopping centres from extinction.
To remain relevant in today’s market, retailers need a different strategy that integrates digital services with physical stores while keeping consumers interested.
Shopping Centre Commercialisation is one of the leading forces that can help you stay ahead of the game through integrated services and spaces that attract modern shoppers seeking dynamic experiences. Here’s why!
What is Shopping Centre Commercialisation?
Commercialisation is the process of increasing commercial activity in an area, such as a shopping centre, through strategic investment.
This investment can come in the form of new amenities, services, and entertainment, as well as improving the physical environment. In short, commercialisation is about creating a more compelling environment for both retailers and consumers.
Why is Shopping Centre Commercialisation Important?
If you have ever visited a shopping centre that’s almost empty, you know how uncomfortable it feels.
It’s not only a bad experience for shoppers but also for the retailers who are desperately trying to attract customers by offering discounts and free gifts.
You can probably picture the situation when you walk into a shopping centre only to find a few retail stores, a few kiosks, and maybe a food court.
Unfortunately, this is what many shopping centres look like today. With declining footfall, the number of physical retail stores is also falling.
But commercialisation can change this situation. It is the process of injecting more commercial activity and functions into a shopping centre to make it more attractive to both retailers and shoppers.
How Will Shops and Centres Benefit From Commercialisation?
More footfall will help retailers reduce their markdowns, which are often necessary to generate said footfall in the first place.
Shoppers, on the other hand, will be able to find what they want with ease, enjoy hassle-free digital services, and spend more time exploring different shops, which can go a long way to increasing brand awareness for you, as well as increased income.
How Will Shoppers Benefit From Commercialisation
If you are a retail customer, you will likely enjoy a more convenient experience at shopping centres.
The rise of fully integrated shopping experiences will allow digital and physical services to come together to create a seamless shopping journey.
You will be able to pay for your purchases through your mobile wallet, find your way through the centre with your navigation app, and enjoy digital services, such as live help forums, wherever you are.
You could get alerts about a sale in a shop that you are planning on visiting. Or, you could get access to exclusive discounts available only to certain shoppers.
Are You Ready For the Next Generation of Retail?
The future of retail is here, and it’s in the form of shopping centres that offer more than just a place to go and buy products.
With commercialisation, you can create a vibrant, exciting shopping environment that offers in-store, online, and mobile experiences that are all connected
However, if you are going to succeed in this new era of retail, you need to start investing in the right strategies and technologies that can integrate your commercial activities and create seamless experiences for your customers.
Otherwise, you might find yourself on the wrong side of extinction.
Get in Touch!
Our team are on hand to answer any questions you have or help with getting your brand commercialisation strategy up and running. So, if you’d like to talk to us about this, then get in touch with us today.