Of the four Iulius malls across Romania, the one in the student city Iasi has a particularly young shopper demographic, as it is located in the heart of the campus area. We heard from centre manager Gabriel Iatco how this demographic is catered for.
Is the tenant mix in Iulius Mall Iasi managed with the student shoppers in mind?
Very much so. We have worked together with our team to transform IM Iasi into a prime young fashion and sports destination.
The tenant mix is constantly evolving to meet our clients’ expectations and with 21 student dormitories housing over 8 000 students in the vicinity, young shoppers have definitely influenced this. They respond to international fashion brands, fast fashion and sustainable fashion at affordable price points, and they want choice, so we aimed for budget-friendly stores, entertainment options, a supermarket, a food court, but also cozy cafés and a co-working space for students.
We’ve added all of these elements in our tenant mix, many of them having their only outlets in Iasi– from the affordable clothing brands and a make-up hub to a cineplex, bowling club and games facility, coffee shops and a copy centre selling school supplies.
The young market is very demanding and over time we’ve adapted to their desire to shop around and compare – four years ago, for instance, we had only one shop that specialised in sports apparel, mainly sneakers. Since then, we’ve added many other international brands, to allow comparative shopping, and we’ve positioned the mall as the number-one destination for sports shopping.
Aside from choosing certain tenants, are there any other tactics that you employ to attract students?
In many respects we’ve taken on the youth energy of our location, and we’ve been influenced in the best way possible – we made sure to give it all back through promotions and campaigns that have a real impact for the students and our tenants alike.
There was, for instance, a “back to college” campaign where we gave welcome packs to over 3 000 students, each with a T-shirt, tote bag and sticker, along with an exclusive discount card. We had to supplement the stocks because they were so popular and a year later, we still see students with those tote bags around town.
In a student town the university holidays are often quiet – do you have a specific strategy around these times in the academic year?
It is true that there is a more vibrant atmosphere during the academic year and in the summertime, it gets quieter, but we remain a lifestyle destination for most people in Iasi as our campaigns target more than just students.
We also do brand activations outside the mall at the cool events and festivals in the city, and we drive traffic back to the mall with shopping vouchers.
No matter the time of year, we have plans! Sale seasons, food-court and cinema campaigns and shoots of new collections are timeless and address the larger public.
How does Iasi mall compare to other shopping options in the area – is it a very competitive retail environment? How is that managed?
Yes, it is very competitive, and we’ve addressed this by providing many unique shopping experiences under one roof. We have some competitive advantages like the only cinema multiplex in town and a variety of sportswear shops that you cannot find elsewhere in Iasi. Right now, we are planning the opening of the first Sinsay store in Iasi, a long-awaited brand in our community which will shape the entire area of the demi basement. The shop will be accessed also through new escalators and an elevator.
We also have a Fidelity app, which offers loyalty benefits that are a real incentive to loyal customers.
Another key differentiation is the marketing strategy itself, which mostly consists of connecting with young people by telling them stories. We were the first mall in Romania with a verified Tik Tok account, and it is part of our strategy to always keep up with trends to create dedicated and relatable content across all social platforms.
What growth opportunities have been identified, if any? Are there any plans in the pipeline for changes/redevelopment/expansion?
Iasi is blooming, and we even see this in the labour market, which attracts many young people. As explained, we like to be part of the new, so in anticipation of increased traffic, we are tackling one challenge – the parking lot! A new paid-parking management system will be implemented before the end of the year, and the number of parking spaces is being increased.
We’ve also signed an energy-efficiency contract with a specialised company to reduce the carbon footprint of the mall and the overall consumption of utilities. And finally, we are in the process of implementing a photovoltaic farm on the roof – with the overwhelming rise in the cost of electricity and gas we are entering into a new phase in which, to a certain degree we’ll take matters into our own hands.