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Shopping Mall Owners Invest In Technology To Attract Shoppers And Retailers

June 7, 2016: 12:00 AM EST
Shopping malls are investing in technology to improve the ways they connect with shoppers, hoping to encourage more activity and even giving mall owners an edge in lease negotiations with retailers. This trend is also helping grow a cottage industry of technology startups creating and selling software and services that develop interactive maps and mobile advertising for shopping malls. Other products includes those designed to support real estate maintenance and security operations. Also, some vendors offer technologies designed to help mall owners analyze foot traffic in shopping malls, an important metric cited by landlords and retailers during lease negotiations. Mall owners need more accurate methods of measuring the number of shoppers and how they behave in order to be able to lease their properties and charge the highest possible rents.
Esther Fung, "Mall Landlords Embrace High-Tech to Entice Shoppers", The Wall Street Journal, June 07, 2016, © Dow Jones & Company, Inc.
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