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Malls are best billboards



Shopping centers offer opportunities to generate revenue by advertising products, brands, services and merchants, a media executive told delegates at ICSC RECon.
“The mall is a parade [of consumers], it’s a mass medium with a lot of reach,” said David Parsons, president and CEO of McGavren Guild Malls LLC. “The mall is a medium because we influence a lot of people.”

Shopping centers offer enormous advantages over, say, highway billboards or even radio and TV advertising, Parsons argued. People in a center have their wallets with them and are in a mood to spend, as opposed to those zipping past a billboard in their cars.

shopping, malls, oohmedia

Moreover, shopping centers offer a variety of venues to suit individual advertisers. A company selling diapers, for instance, can set up a promotion close to a children’s play area. Microsoft, he said, always likes to advertise near an Apple store. Shopping centers can offer space for pop-up stores, walls for digital advertising, arenas for food promotions as well as canvasses for banners, floor advertising and escalator ads.

To promote new stores, LL Bean, has created artificial rivers through common areas and decorated elevators to give them the appearance of tents, he said.

 But attracting advertisers calls for good judgment and a deft touch. For instance, different types of centers in different markets should target different clients. National advertisers will only want to do business with landlords owning large portfolios. Owners of small portfolios or single centers will have better luck with local advertisers, whether they be car dealers, banks, schools, medical services and the like. “Seventy percent of any mall’s advertising will come from the local market,” Parsons said.
Landlords should use the price of roadside billboards in their areas to gauge how much to charge for their own banners, he said, adding that their rates should not be more than twice the rate charged for the former.

Center owners also should seek to deal directly with potential clients rather than bombard them with calls or emails, Parsons advised, so that they can tailor promotions appropriate to the product or service. Once a client signs on, landlords should check-in frequently so that both sides an evaluate the effectiveness and impact of the promotion.

Done right, mall promotions can be a lucrative source of revenue, Parsons said. “We have a huge amount of power.”

More about shopping malls in the USA



YESTERDAY, South Korea:
Hyundai Seoul got a central atrium with a 12-meter waterfall and natural lighting.
May 12, 2022, Malaysia:
The complex is home to more than 200 tenants selling authentic local goods.
Apr 29, 2022, Europe, Europe:
The store sells streetwear created in collaboration with designers such as Soho Grit, Alma de Ace, BAPE, Herschel, and Staple.
Apr 28, 2022, USA:
Nike and RTFKT have announced a new collection of Nike Dunk Genesis Cryptokicks sneakers.
Apr 27, 2022, USA:
Meta Store has the intention of demonstrating the possibilities of virtual reality devices, as well as dispelling the mystery around the concept of the math universe.
Apr 22, 2022, Brazil:
BR Malls Participacoes and Aliance Sonae Shopping Centers may merge to form Brazil's largest mall operator.
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