The building and expansion of outlet shopping malls is a retail trend that appears to be picking up steam, according to a recent report from RetailWire. It highlighted the fact that more outlet shopping centers are cropping up in previously untouched territories, while existing locations are expanding the square footage of their stores.
According to the news provider, outlet centers are expanding because of several factors. Namely, they are overcoming the stigma of the "bargain-bin atmosphere," focusing on luxury brands and ramping up marketing efforts, the report stated.
"At least in terms of real estate, outlet malls are the stars of retail. The channel appears to be the only one witnessing noticeable square footage growth," Tom Ryan wrote for RetailWire.
When opening new locations, experts agree that outlet stores should utilize a real estate portfolio management solution. The software can house all the important documents needed when opening a new location, as well as streamline the flow of files within the organization.
Then, once open, the company can shift its focus to facilities maintenance software the ensure their retail space is optimized for the best possible sales.
