In the past, developers often constructed malls without a solid understanding of the needs and behavior of local shoppers. As a result, a number of malls failed.
This approach is now changing fast as developers undertake detailed analysis of catchment areas to understand the prospective footfall of malls yet to open their doors. And data use doesn’t stop there; malls around the country are increasingly getting smarter about monitoring and analyzing their visitors amid increasing competition in the country’s booming retail space.
“There is a growing recognition of the need to collect more information on customer interactions and in-store performance to have the possibility of making strategic analysis for long term improvements in malls,” says Ramesh Nair, CEO and Country Head, JLL India. “And mall owners are now investing heavily on such analytics to have a real time view on experience across their property.”
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