Packages Mall: Boosting ROI Through Strategic Shopper Insights

Introduction

Packages Mall is a leading shopping destination in Lahore, Pakistan. It offers contemporary shopping facilities and diverse local and international brands.Complementing the retail experience, the Mall offers a multiplex cinema, a food court,and dedicated entertainment zones.Recognized for its vibrant atmosphere, Packages Mall regularly hosts events, promotions, and festivals to maintain an active customer base.

The Challenge

The pandemic has impacted the retail landscape, fostering a more competitive environment. While malls remain a pillar of the shopping experience, they face challenges from evolving consumer preferences and reduced foot traffic due to online shopping. To attract and retain visitors, malls must innovate and offer unique experiences. As one of the few available recreational activities, they must constantly develop new methods of entertainment to maintain visitors' interest.

Conducting thorough research and mastering return on investment (ROI) is essential for malls to achieve their commercial goals. This enables informed decision-making and effective marketing strategies. It allows malls to optimize resource allocation and tailor their offerings better to meet the expectations and preferences of their target demographics, thereby enhancing their presence in a changing market landscape.

Packages Mall recognized that achieving its business objectives required thorough research on its return on investment (ROI). Such a data-driven approach would facilitate efficient marketing budget allocation, adequate engagement with target audiences, and enhanced foot traffic through impactful campaigns.

Akademos' Role

Packages Mall partnered with Akademos to evaluate and examine their marketing plans. The Mall organized a shopping festival, which allowed them to assess their return on investment (ROI). This included gathering data on shopper demographics, shopping preferences, and visitor patterns

Action Steps

The Shopping Festival allowed Akademos to interact directly with shoppers, enabling them to collect valuable data on mall demographics, preferences, and buying habits, all crucial for assessing the Mall's return on investment. Akademos also collected customer satisfaction data for the festival to evaluate the marketing strategy's success from the consumer's perspective. This information can assist in determining if similar events should be held in the future and if any improvements are needed.

Customer receipts were analyzed to identify the top-performing brands in categories like food, fashion, and home goods. By examining which brands benefited most from the increased foot traffic, Akademos could evaluate the festival's impact on sales. A similar analysis was conducted for the food court to understand which major brands contributed significantly to its revenue.

1. Shopping Festival 2023




The Packages Mall Shopping Festival 2023 was a 31-day initiative. It included activities such as discounts, promotions, and lucky draws. Customers who made purchases totaling at least PKR 15,000 qualified for the Lucky Draw and received coupons for various brands and eateries. Throughout the festival, over 34,000 coupons were disbursed.

2. Research Findings






Akademos' study provided important new information about customer behavior and financial performance. Despite challenges, the festival brought in a substantial 44% more revenue than the previous year. This rise overlapped with a 24% daily increase in distributed coupons, indicating heightened customer engagement and spending. During the festival, notable expenditure trends were observed. For instance, various fashion brands exhibited significant revenue growth rates. Meanwhile, in the food court, some eateries demonstrated remarkable increases in income, showing the power of special offers and events to increase consumer traffic and spending.

Furthermore, the potential impact of customer loyalty programs was highlighted. These programs contributed to higher average spending per customer and encouraged repeated visits. Well-crafted marketing campaigns were crucial in attracting high-value customers, particularly during weekends when mall traffic and sales peaked. For instance, complimentary concert tickets for Rahat Fateh Ali Khan promoted festival attendance, highlighting the influence of entertainment offerings on customer participation.

Akademos' study distinguished the shoppers into different social segments based on age, income, and gender. Segmentation based on socio-economic factors such as age, income, and gender revealed distinct shopping preferences among consumers. The study highlighted how the spending patterns of different social groups varied, impacting preferences and participation in promotional activities, such as the Lucky Draw.

Results

The Packages Mall Shopping Festival 2023 is a compelling case study of how consumer behavior significantly improves ROI. Akademos helped Packages Mall understand the motivations and preferences that drive Packages Mall's customer base. By dissecting customer behavior through the festival, Akademos empowered Packages Mall to move beyond traditional ROI calculations and better understand customer value. In a retail environment increasingly dominated by online options, malls must meticulously assess the ROI of their marketing initiatives. Collecting and analyzing customer data through initiatives like the Shopping Festival enabled Packages Mall to make well-informed decisions about budget allocation and target audience outreach.