Data Analytics to save the Mall business

The mall business has been declining in recent years owing to shifting consumer preferences to ecommerce and experiences. Saving grace for malls in the present scenario is data analytics that can boost their revenues by almost 20%. Examining performance of every individual store as a spend engine and quantifying how it affects overall consumer spending at the mall can help optimise tenant selection and placement. It can also identify stores that may need to be resized, relocated, repriced, removed, or given marketing support.