Word: retailing
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...complex will also contain publicly-accessible areas with retail businesses and rentable conference rooms...
...fact, there are success stories. Shanghai's Raffles City and the MIXc, a mall in the city of Shenzhen, which borders Hong Kong, have good locations and a profitable tenant mix, says Bryn Davies, executive director of retail services for CB Richard Ellis in Greater China. And, despite the glut of space, the mainland's retail sector remains in bull-market mode. Economists expect as the country's consumer culture continues to develop, demand will continue to increase. China today accounts for 5% of global consumption, but investment bank Credit Suisse predicts that number will rise...
...Meanwhile, retailers at Golden Resources say they have little choice but to hang on in hopes that customers will eventually discover the megamall. Xiao, the shoe salesman, is upbeat. "The store manager always tells us we should persevere, it will be getting better," he says. It's hard to imagine things getting worse. As a mall security guard dryly observes: "On weekdays we have so few cars, this must be the best parking lot in Beijing." Unfortunately for the builders, it's a parking lot attached to 6 million sq. ft. of unloved retail space...
...removing invasive noises or rescoring unappealing music. It sounds simple, but while many businesses have mastered the art of influencing shoppers through sight (with alluring displays) and smell (say, by piping the odor of fresh coffee throughout a store), few have focused on the smart use of sound, says retail psychologist Tim Denison of the British Retail Think Tank. But that's changing. U.S. firm Muzak used to be the butt of jokes for its bland elevator music, but it now supplies some 400,000 shops, restaurants and hotels around the world - including Gap, McDonald's and Burger King - with...
...rule seems clear for retail soundscapes: slow is good. As people's biorhythms often mirror the sounds around them, a gently meandering mix of classical music or soothing ambient noise encourages shoppers to slow down and relax. And, says Denison, an unhurried consumer is exactly what retailers want: "If customers are moving less quickly, they're more likely to engage with a product and make a purchase...