Malls must “reinvent their experience model” to survive

New Ideas in MarketingEssential news for marketers, summarised by YouGov
November 27, 2019, 2:08 AM GMT+0

Experiences can include creating spaces that are central click-and-collect points for online purchases.

This article argues that in today’s age of e-commerce, a trip to the shopping malls is no longer an aspirational activity, as Gen Z exchange ideas, socialise and drive commerce in virtual spaces. SAP EMEA South’s Hichem Maya said that the youth would visit malls only if their favourite brands had limited stock items in offline stores.

Maya adds that the next-gen concept stores must convert customer, employee, brand and service experience into “one seamless event”. This is because Gen Z want instant gratification, social affirmation, entertainment and engagement.

For this, brands must invest in customer identity technology, AI or machine learning-based recommendation engines and more in the discovery phase. Next, they should include real-time inventory, order management and e-wallets, followed by biometric and IoT technology.

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