Experiential retailing or retailtainment is a primary component of another term

Experiential retailing or retailtainment is a primary

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Experiential retailing , or retailtainment, is a primary component of another term we’ve been using: added-value retailing (Sielaff, 2005). In today’s economy, where we find that shoppers are more fickle than ever, it is increasingly important for manufacturers and retailers to have access to the right insights in order to build stronger, more shopper-centric solutions to win the race for The Last Mile: Brands need to be able to address the barriers to purchase in the store environment by providing the right mix of Brand theater, including ‘‘retailtainment,’’ to create a call to action (Featherston, 2009). ‘‘Retailtainment is the concept of adding entertainment and experiences to the retail mix’’ (Hutchinson,2009). In recent years, the shopping mall industry has faced several environmental challenges including marketplace saturation, similar merchandise, department store consolidations, consumer lifestyle changes, reduced consumer interest and an economic downturn (Field, 2009; Reda, 2009). The mall industry’s future is further threatened by aggressive, new competitive formats including mass merchandisers,power centers and online shopping(Reda,2005).In response to these concerns, some mall managers have positioned mall shopping as an opportunity for combining shopping with entertainment and lifestyle, leisure activities through the addition of specialty restaurants, mega-theaters, amphitheaters, museums and other special attractions within the mall setting (Field, 2009; Reda, 2009). Despite the downturn for US malls, Mall of America is described as ‘‘weathering the storm’’ due to its retailtainment strategy (Segal, 2009). Simon Property Group, the largest US shopping center developer, is attempting to maintain mall traffic through the offer of fun and entertainment in addition to its traditional retail venues (Sherry et al., 2010). This new phenomenon of retailtainment has caught momentum worldwide. Although, there is no mention of any mission statement at the Dubai Mall’s web site, it states ‘‘Welcome to everything [...] Everything you desire [...] Everything that glitters [...] Everything that swims [...] Everything on ice [...] and Everything to thrill you [...]’’ (http:// ). Location, location, location!
The choice of a retail store location has a major and deep impact on its business vitality. A bad choice in most times could mean failure, whereas a good choice may lead the business toward all time success. In today’s highly competitive environment, choosing the correct site location for a retail outlet ranks amongst the top factors in determining that outlet’s success or failure. Maximizing sales is a primary objective for retailers, hence, finding the perfect site location that will facilitate both footfall and growth, is of key importance (O’Malley et al., 1995). Ghosh and Samuel in the year 1983 identified different variables in their paper titled ‘‘Formulation a Retail Location Strategy in a Changing Environment.’’ It states that marketers should consider multiple variables while establishing their retail businesses, of which location is perhaps the most important determinant of success.

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