Open Space: The Invisible Anchor – Shopping Center Business
Posted in News -
The internet has dramatically altered how and what consumers buy and experience when they go shopping. When purchasing essentials or products that can easily be acquired online, consumers are likely to choose convenience over commuting.
Shoppers can be enticed to get up from behind their keyboards and onto your property by providing an engaging and stimulating experience that they can have with their friends and family.
Open spaces are critical in today’s retail environments, as the themes of interactivity and engagement become even more important for both consumers and owners/developers,
” J. Wickham Zimmerman, Chief Executive Officer of OTL.
The addition of water elements such as fountains and ponds can contribute directly to the bottom-line profitability of a center by supporting stronger rents and increasing consumer length of stay.
Many retailers are willing to pay a premium for a waterfront fountain location where they know consumers will come, relax and spend time enjoying a show.
In fact, for every one percent increase in a consumer’s length of stay, sales increase by approximately 1.3 percent. This translates directly to a stronger return on investment for owners who integrate a show fountain or entertainment-focused water element into a retail center.
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