Shopping malls attractiveness: a segmentation approach (2024)

FAQs

Shopping malls attractiveness: a segmentation approach? ›

Findings This study revealed six mall attractiveness factors from the shoppers' perspective: comfort, entertainment, diversity, mall essence, convenience, and luxury. It also arrived at three mall shopper segments, specifically, relaxed shoppers, demanding shoppers, and pragmatic shoppers.

It was found that there are eight factors of attractiveness on mall shopper's satisfaction, these include location, entertainment, facilities and services, aesthetic, price, promotion, diversity, and quality.

Segment Attractiveness Analysis

Well, certain aspects make some segments more attractive than others. For example, a larger market segment is more attractive than a small one, basically because a larger market segment offers more potential customers and more potential conversions for a company.

The 4 main types of market segmentation include demographic, geographic, psychographic, and behavioral–which we'll cover more in depth in the next section.

Five ways to segment markets include demographic, psychographic, behavioral, geographic, and firmographic segmentation.

A common strategy to attract customers is to offer promotions both in stores and online. These could include not only special deals such as “buy one, get one free” but also codes that people can share with friends to earn rewards.

Everything under one roof

Another reason why people prefer shopping malls is because of the variety they offer. Malls have a wide variety of stores, ranging from local to international brands. This ensures that shoppers can find everything they want, no matter their budget or preference.

Effective segmentation should be measurable, accessible, substantial, differentiable, and actionable. When a company has segmented their market accordingly, there is a higher chance that it will become more profitable and successful in the long run.

Market segmentation is the process of dividing the market into subsets of customers who share common characteristics. The four pillars of segmentation marketers use to define their ideal customer profile (ICP) are demographic, psychographic, geographic and behavioral.

What are the 6 methods of market segmentation? ›

This is everything you need to know about the 6 types of market segmentation: demographic, geographic, psychographic, behavioural, needs-based and transactional. Demographic segmentation separates your audience by who they are.

There are four key types of market segmentation that you should be aware of, which include demographic, geographic, psychographic, and behavioral segmentations.

There are four common target marketing strategies: mass (undifferentiated) marketing, differentiated marketing, niche marketing, and micromarketing. Also known as undifferentiated marketing, mass marketing does not segregate the target market and offers one strategy for the entire market.

Regardless of your business type, customer segmentation typically involves grouping customers according to demographics, geographics, psychographics, or behavior. Digital companies can gain customer insights through technographic, behavioral, needs-based, value-based, or customer status segmentation.

The process of market segmentation consists of 5 steps: 1) group potential buyers into segments; 2) group products into categories; 3) develop market-product grid and estimate market sizes; 4) select target markets; and 5) take marketing actions to reach target markets.

Shopping malls have products from competing producers available under one roof. So, making it easier to compare and make purchases. Malls also have their own parking facility. Shopping malls have a variety of food courts with a wide variety of cuisine.

Following its debut in the 1950s, the US quickly fell in love with Gruen's creation. Malls allowed people to shop in warm and friendly environments without needing to venture into the city. They brought numerous retailers and services together in a single location, something main streets and cities could rarely offer.

Here's why! The mall is a great place to meet a friend, get some food, and do some shopping — and it's also a great place to enjoy the benefits of walking. Many people use the mall as a safe place to do their daily walk, and learn why in this video.

Meanwhile, the rise of online shopping has displaced the need for malls in people's lives. Online shopping has doubled in the past seven years, and teenagers who used to hang out at the mall now socialize over social media and phones.