Shopping is not what it used to be. Even though the number of shopping malls has risen in the past few years, it is becoming increasingly difficult to attract more tenants to the malls due to the growing number of online sales.
Online buying has grown exponentially and is taking a bigger market share than ever before, therefore, more retailers are planning to reorganize their brick-and-mortar stores and move at least part of their sales online.
So, shopping-centre operators and retailers will need to pay more attention to the entertainment experience of their visitors rather than the shopping itself. This creates some growing challenges for shopping centre operators worldwide while managing their businesses.
Calculating and distributing common area maintenance (CAM) fees, changing retail areas with the history on changes kept, building pricing as a % of monthly sales/ turnovers, and allowing their tenants more opportunities for self-service are the key information management challenges for retail managers.