Regency Square

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Florida State College at Jacksonville *

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2000

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Marketing

Date

Feb 20, 2024

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docx

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5

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REGENCY SQUARE MALL 1 Regency Square Mall Yakeisha Jennings MAR3023 Florida State College at Jacksonville October 1, 2023
REGENCY SQUARE MALL 2 Shopping malls provide a location to the community where you can shop, socialize with people, and have access to different services. Malls can also serve as a center for tourism and just a place for entertainment. In this essay, the focal point will be if a struggling mall can be restored. Regency Square Mall was once a sought-after destination and is now deteriorating (Gibson, N.,2023). Regency Square Mall use to bring in twice as many profits more than any average mall. Amid ongoing issues and the mall falling apart, there are only a few retail stores and restaurants remaining. I will discuss the overall performance and how the owner can potentially capitalize and improve to restore it. The Regency Square Mall is currently not at its best. There are very few businesses and retailers left in the location. Upon visiting this local mall, there are molded ceilings and over the summer there was a lack of air conditioning. There were signs up from stores that closed because there was no air conditioning in the summer months, and it became extremely hot. A power outage hit the mall, and damages still has not been fixed (Levesque, T., 2023). The owners and management are still seeking bids and contracts to prepare the roof. The mall is still deteriorating and has been for years. No sell of the mall has been listed or plans to renovate and revamp has been in the works. Only one part of the mall currently has stores and the mall is not generating much income. Strengths Malls offer people convenience with many stores, products, and services to choose from. The Regency Square Mall is located in the center of Jacksonville, Fl., in the heart of Arlington.
REGENCY SQUARE MALL 3 The mall also has a food court with restaurants and desserts to choose from. Having a mixed and diverse variety of retail tenants. Weaknesses There would be a possibility of traffic congestion and overcrowding on the weekends. Regency Square Mall also lacks ambience. The condition of the mall is becoming unsafe. The infrastructure of the inside and outside is outdated and lacks appeal. There has been little to no effort to market to lease retail space. Lack of online presence with marketing and promotions. Opportunities Regency Square Mall can establish partnerships for future growth and engagement within the community. They can also buy or establish more retailers to help increase market shares. The opportunity to fill market gaps with more department stores can also be beneficial. The integration of online shopping by incorporating e-commerce for online shopping. They should also introduce family entertainment and have things to do at the mall. Threats There are various retail stores in the area and another mall and shopping center not too far away. Other nearby stores or malls with better selections and things to do can pose a threat. The rise of e-commerce has consumers wanting and preferring to shop online retail. The economy going down and with the cost-of-living rising causing consumers to reduce spending which affects how the mall performs. Recommendations
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