Entertainment centers are positioned to be the new malls where consumers shop, dine and enjoy a movie. But the economic slowdown means these districts might have to increase their marketing efforts. A recent Wall Street Journal report indicates that development has slowed for these centers that particularly target women between the ages of 30 and 50. And mall operators are having a tough time signing new tenants.
Some malls are trying to increase traffic by boosting the entertainment component of the destination. USA Today reports that the malls are adding theme-park type attractions, bowling alleys, or action-sports retailers that encourage consumers to try various sports on location. That concept combined with live music events at malls might just bring consumers of all ages out for an evening.
Share these trends with your mall operators as you discuss new marketing plans.[Sources: "Malls Get Creative to Draw Shoppers in Tough Economy," USA Today, 7.16.2008; Hudson, Kris. "Too Many Malls, Too Few Tenants," Wall Street Journal, 7.17.2008.]