The lives of many Filipinos have been intertwined with malls.
In the Philippines, a mall is not just a place to dine and shop, but it is also a place where we catch up with our close friends and relatives, pay our bills, meet with clients, etc.
Below are ten advantages of having one’s business inside a mall. Some advantages may even be unique in the Philippine setting.
1. High foot traffic
This first advantage is the most obvious one.
Malls in the Philippines are not just a place for customers to dine, shop, and watch movies. It has transformed in a place where almost all your activities can be done here.
You can renew your driver’s license and passport, pay your bills, get yourself (or your dog) a haircut, have a relaxing massage, etc. The list of things you can now do inside is increasing.
Some malls even conduct Sunday mass an hour before mall opening to attract more customers and start their day there.
2. Safe environment
Even before customers enter the mall, they are already screened.
Cars are searched upon entry to the parking lot. Customers and their luggage are also searched upon entering the mall entrances.
There are security guards who are in casual clothes to easily blend in with the crowd and observe any suspicious individuals.
The security team of the mall also coordinates with the local police department.
Sometimes, they are requested to have a command center within the mall premises during major events such as concerts or 3-day sale.
These standard operating procedures make the customers and business owners feel safe inside the mall at all times.
Related Article: ‘To mall or not to mall’: Finding the best place for business
3. Exposure to events
The mall marketing department does not only celebrate the typical celebrations like Mother’s Day, Father’s Day, Christmas, New Year, etc.
There are other events that are being held usually in the mall’s event center.
Events such as Global Handwashing Day, Children’s Book Reading Day, Earth Day, Earth Hour are also being celebrated and promoted.
These events give the mall tenants a chance to participate and get noticed even more by the mall goers.
Depending on the theme, selected mall tenants are invited to showcase their brand.
This gives the customers a chance to discover new stores that are available.
Related Article: The Biggest Shopping Malls In The World
4. Amenities
With thousands of shoppers entering the mall daily, some services are needed to keep up with the flock of customers.
Besides the usual amenities such as parking and ATM, some larger malls have provided a clinic, a breastfeeding station, drivers’ lounge, free wifi connection, resting areas for senior citizens, and transport terminals.
5. Continuous upgrading
To keep the customers coming back, mall operators need to constantly upgrade the mall surroundings and aesthetics.
This includes the mall perimeter, entrances, floor tiles, bathrooms, etc.
Mall operators require the mall tenants to update their frontage or their signage to give the mall a fresh look.
If the foot traffic keeps improving, the mall even expands the mall with an annex or a new wing.
Related Article: Advantages Of Owning A Store In A Mall
6. Credibility
When shoppers see your business inside the mall, they feel confident that you can provide them a good product or service.
Mall operators have a very strict screening process before approving a concept. So once your brand is seen inside malls, it already adds value to the name.
7. Customer profiling
Business owners need to know first the profile of the customers in an area.
The customers in the mall will tell you a lot of the market profile. You can do this by observing the other tenants.
Check out what type of brands dominate the mall – are they high end or do they serve mostly the mass market.
Of course, this only works if you are planning to start your business in a mall that has been operating for some time.
8. Flexible contracts
Mall operators can provide short-term contracts. This is especially true for foodcarts or kiosks.
Some malls can offer as short as three-month contracts that are renewable.
It works both ways.
As a business owner, it gives you a way to test the market first.
For the mall operator, they can relocate you if re-zoning is needed
.
Related Article: Why A Mall Kiosk Might Be A Big Idea For Your Small Business
9. Grand SALE
Having a sale on your own might be a good way to increase revenue, but if all of the mall tenants are doing it at the same time, it will attract even more customers.
These 3-day sales are not just done randomly. These are well-coordinated and planned.
SM has the most number of malls in the Philippines. The company strategically schedules 3-day sales in separate locations to maximize profit.
It usually happens from Friday to Sunday, but if the succeeding Monday is a holiday, it becomes a 4-day sale.
10. Advertising
Besides getting exposure through foot traffic, your business can get noticed through the mall’s PR efforts.
You can get more exposure through their own social media campaigns, newspaper ads, and their own magazine publications that are usually included in the morning newspaper.
In fact, this is part of the advertising fee that tenants pay so it’s better to maximize this.
Related Article: Three Reasons Mall Franchising Makes Sound Business Sense
Conclusion
It is still up to you if you think these advantages are fit for your business. These advantages are not an assurance that your business will easily succeed.
You still have to adapt to the changes.
If you think there are other advantages that should be included, reply in the comment section and share it with us.
Like and share this article to help others.
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