Retailing Through The Modern Shopping Centre: Principles And Trends

Abstract

Shopping centers have existed in different types and configurations depending on their purpose with changes experienced over time. This paper analyses recent trends in metropolitan areas, smaller communities, and in downtowns. It begins by delving into the evolution of the shopping center and its role in retailing. The shopping center began as a linkage of a few stores in a small unified strip before evolving into major enclosed regional centers, which have since been transformed to incorporate other features that make them entertainment centers. The differences between a shopping center and the traditional retail developments are examined before looking extrapolating the other types of centers for more clarity on what a regional center is. Retail opportunities in smaller communities and downtowns are then examined as a means to provide solutions to the challenges that exist in these areas. Many downtown cores face stiff competition from major commercial projects in the neighboring communities and suburban centers, hence the introduction of a new shopping center creates the necessary stimulus to build up the area and create productive competition. Sometimes there may be challenges to building in the core areas and the shopping centers have to be built on the periphery. The paper then concludes with a discussion of the significant changes in the retail industry and some emerging trends for selling goods and services. Understanding the evolutionary trajectory of shopping centers will ensure that the retailers remain competitive and the communities can evaluate the impact of the new developments in their localities.