Watch the video Suburban Regional Shopping Malls: https://www.viddler.com/embed/1a9d2038/?f=1&autoplay=0&player=full&disablebranding=0
According to Perreault, Cannon, & McCarthy (2021) from the course textbook’s Video Instructor’s Manual, “this video focuses on the current problems of suburban regional and superregional shopping centers. Southdale Center located in suburban Minneapolis is considered to be the prototype for most of the suburban regional and superregional shopping malls built during the second half of the twentieth century. Southdale opened in 1956 and featured 70 retail tenants in an 800,000 square foot enclosed, climate-controlled mall, anchored by two department stores.
The suburban regional shopping mall and their department store anchors enjoyed great success for almost 50 years. However, in the final decade of the twentieth century, they began to experience problems: competition (direct and indirect), industry overcapacity (retail space), a decline of the department store, and changes in shopping behavior. Strategies for turning around regional and superregional shopping centers include renovation, re-tenanting, entertainment, and zonal merchandising. The need to create an appealing, exciting shopping center that stimulates social activity is the key to revitalizing traditional malls. However, some suburban regional shopping centers will not survive. In fact, some have already been “decommissioned.” At the end of the segment, Rolling Acres Mall in Akron, OH, is shown as an example of a shopping center in trouble.
The video features interviews with several shopping center developers: Yaromir Steiner, CEO of Steiner & Associates, Bob Gorman, CSM, Area Manager of Greenwood Park Mall, Simon Property Group, Les Morris, Manager, Corporate Public Relations, Simon Property Group, Mike Leonard, COO. The Hogan Group, and Glen Hogan, President/CEO, The Hogan Group” (Perreault, Cannon, & McCarthy, 2021).
For this case study, you will need to address the following:
Imagine yourself as the manager of a struggling local suburban regional shopping mall (select a struggling regional mall that you are familiar with). What do you think the mall should do to improve its performance? (Hint: Firmly establish the problem before recommending treatments.)
What shopping trends do you foresee over the next 10 years? How might these trends affect suburban regional shopping malls?
What new retail concepts can you identify? How might you learn about more? What strategies do you suggest for learning about new retail concepts? (Perreault, Cannon, & McCarthy, 2021)
For each prompt, please include evidence to support your position. Marketing decisions and strategies should be evidence-based. You may find it helpful to review Module 1 when you complete this assignment. (Hint: Allow the concept of value to direct your thinking. Marketers should not recommend strategies without first understanding the problem and the value the target market seeks.)