FACTORS CONTRIBUTING TO THE SUCCESS OF PARCO BUGIS JUNCTION

Abstract

With the increase in the number of shopping centres in Singapore, consumers are more selective about where to shop. They tend to choose shopping centres that are attractive and have a wide variety of merchandise which match their preferences and tastes. This has prompted retailers and mall operators to restructure and rethink their marketing strategies in order to stay ahead in the competitive retailing environment. They must be astute in recognizing the market trend and be adaptable to the changes in the needs and demands of the consumers. Parco Bugis Junction is one of the most unique and established shopping centres as it incorporates the air-conditioned street style shopping experience into the mall. It has successfully positioned itself as a centre that provide fashion, food, fun and entertainment that target the market segments such as the youth, young executives and the families. The distinctive layouts of the refurbished traditional old shophouses combined with a good mix of tenants are a major crowd puller to the shopping centre. This study attempts to look at the factors contributing to the success of Parco Bugis Junction through the managerial effort of the mall and the shoppers' satisfaction level with respect to the mall attributes via the shopper perception surveys. The findings have shown that Parco Bugis Junction is successful from the shoppers' perspective due to its accessibility, good architectural design and layout, variety of merchandise, frequent promotions and good maintenance of its physical features.