Benefits of Setting up Shop in a Retail Shopping Centre

While the costs of setting up shop in a shopping centre may be high, the advantages of operating in an established retail precinct often outweigh any extra cost. Here are the top five reasons why opening a retail store in a commercial shopping centre is a good idea.

A Smoother Shopfitting

Shopfitters are accustomed to fitting out individual stores in large shopping centres with limited time and room to move. Being in a large shopping centre gives specialist shopfitters like TU Projects an advantage because the space has the basic fundamentals of a retail store and just needs to be customised to create a unique and functional space for your brand and product.

Foot Traffic

Shopping centres are a stable retail environment because they have an established consumer base made up of people of different ages, incomes, genders, relationship statuses, and spending habits. Therefore, setting up shop in an established shopping precinct is far more beneficial to your business as your store will receive the foot traffic of an entire centre that serves a large community, rather than a small, localised and niche consumer market.

Parking

While consumer parking and easy access to your shop may not seem like a priority in the early stages of opening a new store, it is definitely something that needs to be considered for the long-term success of the business. If consumers can easily access your shop by car and public transport, there is a greater chance that they will browse your store and make a purchase. Shopping centres provide accessible and practical ways for consumers to access the shopping precinct, whether it is by car or public transport.

Weather

While your store and stock will be protected from unpredictable weather situations regardless, consumers are less likely to venture out into the rain to shop if they are going to get wet. Instead, a large shopping mall is attractive to customers when the weather is bad because they provide indoor entertainment for the whole family away from the weather. In fact, shopping centres often see a spike in foot traffic in bad weather.

Security

Your business is safer in a secure shopping centre that has an in-house security team working 24 hours/day. They’re there to secure the centre at night and support you with any problems, including theft, during trading hours. The Centre Management team are also there to support you throughout your lease.

Exposure

Your geographical location has a huge impact on your marketing strategy and is one of the huge advantages of operating in a shopping centre as opposed to a street-side block of convenience stores. Also, the exposure of an established shopping centre will lower your individual marketing expenses because the centre will have their own marketing and promotional campaigns to attract consumers to the precinct as a whole.

Do you have any experience operating or working in a street shop as opposed to a retail store in a shopping centre? Which did you find most suitable to promoting business growth and success? Share your insights in the comments below.