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2018 | OriginalPaper | Buchkapitel

Experience Economy and the Management of Shopping Centers: The Role of Entertainment

verfasst von : Elisabetta Savelli

Erschienen in: The Experience Logic as a New Perspective for Marketing Management

Verlag: Springer International Publishing

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Abstract

This chapter applies the experience logic perspective to the retail industry by analyzing the role and the management of entertainment strategies in the shopping center format. The purpose is twofold: (i) proposing a conceptual classification of entertainment based on the existing literature; (ii) examining the influences of entertainment strategies on shopping centers’ market performances to provide suggestions in regards to the effectiveness of such strategies. After a short description of the shopping center industry, the study analyzes the changing role of the format occurring over the last decades and proposes a classification of entertainment that includes recreational services (food and leisure) and special events. Changes occurring in these areas of entertainment, alongside those concerning the market performance indicators of shopping centers (i.e., number of receipts, average amount of receipts, number of visitors who buy, visitors frequency), are explored by discussing the results of a qualitative study focused on 16 Italian shopping centers over a three-year period. Practical implications for shopping center managers are provided via empirical findings, while limitations of the study are underlined for suggesting future research directions.

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Vorheriges Kapitel How Marketing Works in the Experience Economy: The Case of the Experience Gift Box Providers

Nächstes Kapitel The Importance of Being Earnest. Enhancing the Authentic Experience of Cultural Heritage Through the Experience-Based Approach

This contributes to attracting the attention of international investors who return to Italy, considering to invest both in best-performing structures located in the most important cities, such as Rome and Milan, and in “best secondary” centers, with high turnovers, such as the “Collestrada” shopping center in Perugia, which was recently purchased by Eurocommercial (Il Sole24Ore, 19/11/2016).

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Bellintani (2010) also considers the re-letting time (RT) among the market performance indicators, i.e., the time needed to re-market a sales unit within the shopping center. However, this indicator represents an indirect measure of the center’s attractiveness, which varies according to the size of the structure and the types of merchandise considered. Therefore, it has been overlooked in the present study. Also the visitors’ frequency (VF) was preferred to the number of unique visitors (NVU) proposed by Bellintani (2010). Both indicators measure a shopping center’s flux variation. However, the VF indicator is independent from a shopping center’s size, contrary to the NUV indicator (whose measure derives from the ratio: total number of visitors/number of commercial units within a shopping center).

It can also be said when both the supply of food services and the VF indicator are decreasing.

These two structures have, however, achieved a general restructuring of the shopping center, resulting in an increasing number of shopping activities (respectively, +47 and +38).

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Titel: Experience Economy and the Management of Shopping Centers: The Role of Entertainment
verfasst von: Elisabetta Savelli
Verlag: Springer International Publishing
Buch: The Experience Logic as a New Perspective for Marketing Management
Print ISBN: 978-3-319-77549-4

Electronic ISBN: 978-3-319-77550-0

Copyright-Jahr: 2018
DOI: https://doi.org/10.1007/978-3-319-77550-0_7