The different strategies could be important for the massive neighboring developments as they compete for shoppers. Consumers may be more willing to spend money than last year, but be very selective with their purchases, experts said.
“It’s very smart to look at the market that way and realize there’s going to be different people in the market this year and to try to take a particular approach so that each one can be very successful in its own right,” said Carol Scott, professor of marketing at the UCLA Anderson School of Management.
The contrast could be a result of one mall focusing on a growing number of shoppers that are looking for added value in their purchases, while the other tries to appeal to higher-end customers who have held off on spending, but may be more willing to make large buys during the holiday season, Scott said.
Shoppers looking for good deals will flock to early morning Black Friday openings, and pay close attention to promotions, Scott said.
But for others, more holiday cheer — in the form of a 110-foot white fir decorated with 15,000 ornaments — might be effective, she said.
“There are people who are tired of being depressed and to the extent to which you feel that maybe this year your job prospects are better . . . you may be feeling like it’s time to have a little fun,” she said.
Those kinds of shoppers will be willing to make more expensive purchases, a factor that could tweak market dynamics to create high interest in either low-cost goods or luxury items, she said.
“You either have something that’s a splurge, something that’s a real nice gift for you or for others, or you’re looking for great value,” she said.
