It is said nowadays the mall has been radically evolving. For instance, in the past, supermarkets, fashion, and accessories tenants are the pillars in the mall business, but they started to lose space to leisure, entertainment, restaurant, kids related services etc.
Meantime mall decor is getting flashy day by day, along with more creative types of experiences, such as:
- Pop-up retailing
- VR/AR shopping showroom
- Musem/gallery store
But above everything else, the key is embracing technology, especially in China, where a bunch of e-commerce giants is invading the sector and yelling that they are more digitally weaponed to disrupt the status quo.
Of course, the foundation of digitalizing the future mall is all about collecting the customer data. Wi-fi is still the mainstream method.
So is there any best practice of traditional mall player under digital transformation in China?
Fung Group gave an illustration of CapitaLand’s “Smart Mall” model: in order to optimize customer experience in their entire shopping journey from eight perspectives.
Another best case is China’s Aegean Shopping Mall which is said already built a complex and highly integrated big data ecosystem that connects its entire business operation. So it can perform targeted marketing and provide personalized services to customers. It also has collaborated with Microsoft to evaluate the satisfaction level of customers in the mall as well as recommend relevant products to respective customers with the help of facial recognition technology.