Malls Still A Go-To Destination For Holiday Shoppers

Digital consumerism has forever changed the retail landscape. It has increased the shopper’s selection of stores, goods and services. It has given consumers the ability to make purchase anytime and anyways, it has also opened up new revenue streams for businesses and has given even the smallest of businesses to become 24/7/365 operations. But, when it comes to holiday shopping, malls are a place consumers are drawn to.

mall shopping● 83% of Holiday shoppers in 2014 will make a purchase at a mall. This includes nearly 90% of Millenials – the group most apt to shop online
● Nearly 80% of shoppers said that mall shopping helps them find the right gift. When shopping for multiple people that number jumps to 85%
● 81% of Millenials said they shop at malls to avoid the risk of gifts arriving late – Millenials had the highest propensity for last minute shopping (20%)
● Millenials and Gen Xers are also the most likely to “showroom”. 76% of millennials and 72% of Gen Xers said that they purchased a gift online after visiting a store in the mall
● Last year, the average sales per square foot in a mall were $468. That’s an increase of 24% from 2009

What This Means To You

Holiday shopping isn’t an either / or activity. The vast majority of consumers are cross-platform purchasers. They use mobile devices, desktops and actually visit physical stores as well. Some will probably hold up lines to write a check as well (look for the line I’m in, the check writer will most likely be the person if front of me…or they will be the person taking time to find correct change…that’s the kind of luck I have) If you are in a mall, look for ways to stand out from the competition. Create partnerships with other mall merchants. Embracing mobile technology can be a huge help to draw in customers. Mobile coupons can be a way to increase traffic. Also, look at beacon technology to help direct customers to your store and route them to specific items once they are in your location. One key thing to never forget is loyalty programs.  Enrolling customers into these programs give you a direct path to the consumers and can help turn a one-time sale into a frequent patron. For more information on how to continue your success into the new year, please contact:

amfiala@gmail.com

Sources: eMarketer. Simon

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