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The Beat of the Mall

AU$10.00

1_CAN WE HANDLE THE TRUTH? 4

Preface 4

Cards on the Table 5

Visual Outline 8

2_THE BIGGER PICTURE 9

Background and Assumptions 9

The Central Thesis of Change 9

The Dialectic of Change: Communication 11

The Dialectic of Change: Entertainment 13

The Dialectic of Change: Family 16

The Dialectic of Change: Consumption Orientation 18

The Best Starting Point For An Emergent Strategy 19

Applying the Caveman Principle 21

3_THE WAY PEOPLE STRIVE 22

We Are Settlers 23

The Productivity Preference 24

Innate Desire to Belong 24

Infantilism 27

Explanatory Bias 29

Neophilia 30

Conclusion 30

4_THE WAY PEOPLE SHOP 31

Why do people go to malls? 31

Attributes of Malls that drive Patronage 32

Consequences of Attributional Factors 33

Patronage Values - The Real Drivers 34

The Missing Ingredient: Significative Value of Shopping Centres 35

Types of Shopping Patrons 37

Applying the Patronage Value Framework 39

5_MALLS ARE ANTIFRAGILE 41

Is That Tumbleweed Rolling Through The Mall? 41

If Not Tumbleweed, What Then? 41

Why Will Malls Be Around For Another Hundred Years? 42

Malls Will Be Around But They Will Be Different 43

But Going Digital Is Not The Answer 44

The Lure of the Web 47

The Options 48

The Answer 48

6_THE ANTITHETICAL FLIP (OR FAIL) 53

Culture Change 55

Strategic Flips 55

Running out of highway is inevitable 57

Retail Disruption is Shopping Centre Disruption 57

Business Model Disruption in Real Estate 60

Like Uber, not like Tesla 60

The Principles 60

Case Study: AirBnB vs. Hotels 61

Zig-Zag: The Dialectical Meta-Pattern 63

The Zig-Zag of the Mall 64

7_SHIFT IN BUSINESS MODEL 65

Fundamentals 65

Agile Leasing 65

It Is Inevitable 1: Societal Attitudes 69

It Is Inevitable 2: Enforceability 72

Conclusion 72

Paradigms of Truth 73

Transformative Innovations 74

Dynamic Retail Mix 81

Time Horizon and Lag 82

Technology & ECommerce 82

Scalability and the Amplified Aggregation Advantage 84

8_SHIFT IN WHAT CUSTOMERS WANT 86

The story so far 86

What Is The Nature Of Experience? 87

Experience Must Be Positive 87

Experience Is Primarily Emotional 87

Experience Must Have Intrinsic Value 88

How To Create Experiences 88

Design the Experience 89

Step 1: Removing Experiential Inhibitors 90

Step 2: Identify Customer Segments Or Purchase Scenarios 90

Step 3: Creating Experiential Outcomes 91

Implement the Delivery of the Experience 92

9_RETAIL - THE MALL PRODUCT 94

Influence The Quality Of The Experience 94

Total Patronage Experience Via The Retail Mix 95

It Must Be More Than Food 96

Frictionless Transactions 97

Dealing with the price issue 99

Authenticity 103

Endless Customisability 103

Ubiquity 103

10_SHIFT IN NATURE OF RELATIONSHIP 104

Features of the New Relationship 104

Shifting the Balance of Power 104

It’s PEOPLE - Or We Are Finished

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