The struggle between online retail stores and brick and mortar has been like David and Goliath with more and more shoppers moving online to shop, malls have been facing difficulties keeping up. Omnichannel strategies have been and continue to be the go to solution to this problem, but a novel idea is showing promise in bringing shoppers back in stores.
Malls are riding the festival wave and focusing on the experience driven consumer behavior to offer something to shoppers that online retailers simply can’t: Parking lots. Space and lots of it was supposed to be the big downfall of malls but mall owners are starting to realize how they can use that space to their advantage – by throwing experience driven events that most consumers are already shelling out hundreds to attend, similar to Coachella and other music festivals.
By sponsoring festivals and carnivals with trendy food trucks, malls are recreating the festival vibe that drives people to events in droves. Bringing in food trucks and even live performances has boosted revenue for malls and outlets. The events offer promotions and advertising for the mall nearby and drive traffic to those shops.
The relatively new concept which engages with new consumer trends has yet to prove its worth in the long term. Trends do come and go but ecommerce seems to be here for the foreseeable future of retail.
SoftMirage offers seamless e-commerce integration solutions for your business. Contact us today to find out how we can help you.