Mall - Term Overview

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The mall (shopping center or commercial center) is a building that houses shops and places where business is carried out. Thus, it brings together a significant number of sellers and buyers.

Malls were created with the aim of attracting a large number of customers who seek to satisfy a consumer need, either by acquiring specific items or making impulse purchases.

The advantage of these buildings is that, by bringing together a large number of shops, the customer has more alternatives to choose from.

Another point to take into account is that malls can be used for products from a certain sector, for example, textiles or technology.

Similarly, a mall can be aimed at a certain economic segment or another. This will depend on the prices offered and your location.

Malls as leisure

One phenomenon observed is that shopping malls have become places where people go for walks or simply to compare prices. That is, the visitor doesn't necessarily have to make a purchase.

Given this circumstance, the building usually has a food court, or even different restaurants where people can meet friends or spend time with family. Cinemas can even be included in these establishments.

In conclusion, in a mall you can't only satisfy the need to consume goods, but also services.

Malls and economies of agglomeration

Malls respond to the existence of economies of agglomeration. This means that companies generate efficiencies by being close to each other.

In this case, even if two competing companies are located in the same building, both benefit from the high number of consumers that malls tend to attract.

Types of malls

There may be several types of malls such as the following:

  • Fashion mall or center of fashion: It houses local retailers of sale of clothes and some articles of personal use like accessories.
  • Community center: It usually has all kinds of establishments such as supermarkets and cinemas.
  • Mini malls: They concentrate shops that offer goods and services. They can host some office space.

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