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Keywords: Real Estate
Issue Date: 1-Jun-2010
Citation: SOH CHEN SIEW GRACE (2010-06-01T09:29:50Z). IMPACT OF NEW SHOPPING MALLS ALONG ORCHARD ROAD. ScholarBank@NUS Repository.
Abstract: The retail sector in Singapore, especially along the main shopping belt of Orchard Road has in the recent years undergone major revamp as a result of globalization to keep pace as a world class standard shopping belt. The retail market is one of the most lucrative market, hence the intense competition between shopping malls to be ahead of the pact. While studies have been carried out to examine the factors that attract patrons to shopping malls, little has been done for the same in relation to comparative studies to examine shopping destination choice between the malls along Orchard Road. Hence, this paper aims to investigate the impact of new shopping malls along Orchard Road in three areas; (1) to identify the attributes that influence shoppers’ choice in shopping destination; (2) to identify shoppers’ perception to the various type of shopping mall in terms of age; and lastly; (3) shoppers’ preferential choice between the subject malls. To meet these objectives, a survey was conducted on a total of 240 responses, with 60 respondents each from the shopping malls of ION Orchard, Ngee Ann City, Orchard Central and The Centrepoint, respectively. Subsequently, the results are analyzed using various tools like descriptive statistics, factor analysis, cluster analysis and ANOVA analysis. From the findings, the author has noted several interesting trends. Firstly, shoppers’ generally placed higher importance rating towards the shopping attributes on the smaller sized malls in comparison to the larger malls. Next, the older malls were preferred over the new malls in terms of dinning, entertainment, shopping and hangout attributes. However, in terms of shoppers’ preferred choice of mall in the aspects of dinning, entertainment, shopping and hangout, as well as when comparing on a general basis for the preferred shopping destination choice among the four malls, the older malls were preferred more rather than the new, in particular, The Centrepoint which was most preferred. These findings have serious implications on the management and marketing of the shopping malls. And it is evident that staying relevant to the market trends is crucial for both the new and existing malls to remain attractive. The author singled out certain issues that are found to be pertinent to shoppers’ consideration when deciding a shopping mall destination. This includes atmosphere qualities, brand and tenant mix, convenience in accessibility and promotions. By adapting and adopting these factors, it would help to redefine and position the shopping mall appropriately to attract their appropriate target market.
Appears in Collections:Bachelor's Theses

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