Page 33 - July 2020

RLI RETAIL INSIGHT

How GCC malls and Shopping malls and the retail industry are currently facing

unprecedented challenges, far beyond what could have been

retailers can thrive again predicted. Geoffrey Marshall Smith, MSRE, CLS a retail real
estate expert at Odyssey Retail Advisors takes some time out to
highlight how GCC malls and retailers can thrive once again.

DUBAI MALL his is not just survival of the fittest, rather more
Dubai, UAE
importantly, survival of adaptation – much
like Darwin’s Origin of Species – survival is
T not guaranteed to the most intellectual or
the strongest, instead to those that adapt and adjust to
the changing environment in which it finds itself. Yet no
industry is better equipped or experienced with change
and challenges, it is in the DNA to overcome, even these
uncertain times.
A better future awaits through a renewed focus on the
industry’s fundamentals. After all, the heart of the shopping
experience is the people – the customers that propel the
industry to exceed expectations and the professionals that
rise to the occasion, creating retail magic each day.
Mr. Mohamed Alabbar of Emaar Properties shares
this sentiment. In an interview he states that he receives
satisfaction seeing families happily shopping together. His
words reaffirm the importance of keeping the professional
and customer in mind, viewing brands as inseparable from
malls, placing renewed emphasis on the customer. Now is
the time for optimists only. Revitalisation within the industry
is attainable and in a manner that is universally enriching.

INVEST IN ASSOCIATES Now is the time for mall operators, their leasing MALLS AS TOWN SQUARES MALL OF THE EMIRATES
Associates have always been the best brand ambassadors. personnel, and their marketing teams to get creative with Malls are the town square, a welcoming place for everyone. In Dubai, UAE
Reinvest in each associate to improve bottom-line results proactive ideas. a market that has a family-oriented culture as its backbone; retail
and immeasurable rewards. Associates skillfully use customer One important observation shared by Paco Underhill is outlets need to offer everything they can for a family “day at the mall.”
service and product knowledge to instill brand loyalty, boost that: “The monster of consumption is intact – we eat and It’s important to think about how to be comprehensive,
customer retention, and increase sales. drink, we love our families, we need clothing and household which may mean trying new concepts. The world is brimming
It is the human touch that makes the customer smile. Technology goods – what is in question is how we do it. Retail needs with unique, exciting, and engaging retail concepts, and it has
plays an important role as well, especially with millennials. Some to be responsive to social change. Across much of the never been easier to find them. Fortune favors the bold and
stores are finding unique ways to combine the two – amplifying developing world money is in the hands of a younger the GCC is renowned for being bold, stay the course!
the sales power of their associates through technology. consumer. They have the appetite, but their tools to access The leadership in the GCC has always had incredible
During the pandemic, for example, one large American goods are different than their parents”. vision guiding the creation of world-class cities in a single
department store built a shopping app for luxury items and trained generation. Does your leasing and marketing plan help
its associates to sell to their clientele using this app. Sales were SELLING TO MILLENNIALS contribute to that vision, bringing the world’s best retail to
boosted at a time when many other stores faced an all-time low. Technology has brought us closer, though it’s often your local market, to your mall?
This proves that rebuilding with people (the professionals scapegoated for declining brick-and-mortar sales, it should The customers will take notice and reward you. Create the
and the customer) at the centre of the plan can make money be a sales amplifier. Millennials are encouraging brands, retail concept of the future, what the customer has been yearning
via multiple channels without sacrifice. Malls and brands are and the industry, to explore all channels of technology to see, enjoy, and post on Instagram for the world to look on in
in this together, so their collaboration is critical. Attracting and social media. envy. These efforts will increase new activity and retail generation.
customers starts once the customer thinks of the brand or The customers of tomorrow don’t think twice about New businesses excite and inspire customers. Produce a
the mall, usually both. downloading apps that will improve their shopping leasing plan with vision to match the malls that still leave
Every obstacle or excuse for the customer to change experience. Incorporate technology to reinvent effective the world spellbound. Everyone from everywhere can come
their mind should be removed. Great experiences, whether partnerships, explore new partnership opportunities, and to the GCC to shop the world. That would be another
through personalization of the human touch or an app that revisit loyalty rewards programs. impressive first for even the most traveled global tourist!
knows what you want before you realise it, work to mutual The GCC is synonymous with original, bold ideas, Inertia is good for collecting dust on the showroom floor. The
benefit – and every stakeholder wins. as well as the unimaginable but achievable. Customers GCC’s many successes in the mall industry started with great
Current conditions have strained relationships, meaning expect to be offered what has never been done or even vision and determination from its leaders. That leadership is still
patience and listening is now worth more than gold. The imagined until now. Incorporate current shopping behavior there, whilst the foundations and infrastructures are standing
solutions already exist – create a new department for tenant technology and artificial intelligence (AI), to improve the stronger than ever. The time for retail is now. Continue building
relations, at least until recovery, because with proper and ample shopping experience and loyalty rewards programs that will on that dream. After all, isn’t that how retail started – with an
communication, the best outcomes are timely and ensured. surprise the world. idea that couldn’t be defeated?

32 RETAIL & LEISURE INTERNATIONAL JULY 2020 JULY 2020 RETAIL & LEISURE INTERNATIONAL 33