Shopping malls as we know it are no longer relevant. Customers are after experience and the industry is changing rapidly in light of the digital age. This requires players to have new, winning strategies. Our client wanted to be a pioneer and redefine its business strategy and turned to Mentoro for assistance.
Shopping malls are one of the most ancient platforms there is, where buyers and sellers come together. Therefore, the newly designed strategy embraced platform business model components, such as creating positive network effects. Our solutions focused on increasing time spent and spending in the mall via differentiated customer experience and loyalty programs, increasing loyalty of tenants via creating a differentiated value proposition for tenants and their employees, and creating competitive advantage by using digital technologies to increase unit prices and decrease unit costs.
The collaboration with Mentoro is paying off. Our client is seeing significant improvement in visitor numbers, visitor experience scores, total sales in mall, and tenant satisfaction scores.