The management of shopping malls simply covers the management of functions, operations, marketing, accounts and customer service.
And, this is only possible where the management is effectual.
In simplicity, mall management can be defined as an overall operation and maintenance of the entire building infrastructure, which includes the services and utilities, ensuring that they are used in a way that is consistent with the purpose for which it was acquired.
In other words, mall management covers the management of functions, operations, marketing, accounts and customer service.
However, with the following, we shall discuss mall management a little bit broadly.
Positioning a mall simply defines the category of services offered by a mall. Generally, mall positioning is determined after a detailed survey of households in the area where the mall is going to be located. This survey includes demographics, psychographics, income levels and competition in the area. It also includes the location of the mall which is determined by the access, visibility etc.
The term 'tenant mix' simply indicates the kinds of different retailers or service providers present in the mall as well as the amount of space and the location they operate in. Selection of the right retailers or service providers is extremely critical in terms of marketing as this defines the kind of consumers that will come to the mall. Shopping centres generally witness a generous mix of catchment crowd as well as people who are from outside the catchment area. If there is a mismatch between the needs of the catchment and the kind of tenants present in the mall, success is difficult to achieve.
Facility management is regarded as the combination of people, place, process and technology in a building. Facility management companies do not only provide specialized services to malls, which ranges from parking, security, to housekeeping and cash management, they also handle electro mechanical services like and suppression and fire detection, access control, power management, water management plumbing, Supply Chain, Marketing Research, Logistics, and Design etc.
Infrastructural management is classified as the overall supervision and administration of various facilities provided to tenants, risk management measures such as adopting essential safety measures, conducting asset liability and environmental audits as well as imparting emergency and evacuation training.
This is one major aspect where the level of coordination is easily checked. A well-managed parking with adequate space and ease of flow of vehicles goes a long way in ensuring repeat footfalls. In addition to that, parking generates valuable data, which helps the mall manager in customer behaviour analysis. The profile of the customer, her lifestyle, the average amount of time she spends per visit in the mall, and frequency of repeat visits give valuable pointers to the mall manager. Many of the malls outsource this function to specialist agencies.
There are promotional events that help promote brands. These events are an essential part of mall management. Some of the most effective promotional models include celebrity visits, food festivals and talk shows, which increase footfalls and will as well result in increased revenues. Organizing cultural, national, and religious celebrations will also prove useful.
In conclusion, it should be emphatically stated that shopping mall witnesses a high number of footfalls at most times. Therefore, it is imperative that it is handled, secured and managed by the right people and in the right manner.