PerPayment is opening physical stores in malls as part of their initiative to provide a more immersive and comprehensive shopping experience.

To open a PerPayment store in a shopping mall, there is a five-step process that involves completing an application form, paying a setup fee of $7,500, and working with a dedicated PerPayment Account Manager.

5 Step Process

1. Complete this application form with setup fees for allotment of PerPayment Dedicated Account Manager
2. Setup fees is used to assign PerPayment Account Manager who will handle your PerPayment Store Opening in Shopping Mall.
3. PerPayment Account Manager will have detailed PerPayment Introduction Video Call
4. Based on discussion with your Account Manager you can decide which city and shopping mall you wish to open PerPayment Store
5. There will be legal contracts signed by your firm and PerPayment with MOU (Memorandum of Understanding)

This manager will guide you through the entire process, including selecting the city and mall location, and signing the necessary legal contracts.

PerPayment stores are designed to enhance the customer experience by integrating digital and physical retail elements, which is a growing trend among modern retailers looking to provide a seamless shopping experience.

Opening a store in a mall can present several challenges:

1. High Costs: Leasing space in a mall can be expensive. Besides the rent, there are costs for utilities, store fittings, marketing, and salaries. Additionally, some malls may require revenue sharing agreements, which can further increase expenses.
2. Competition: Malls often have multiple stores selling similar products, leading to high competition. This can make it challenging to attract and retain customers, especially for new businesses without an established customer base.
3. Stringent Lease Agreements: Mall leases can be complex and stringent, with long-term commitments and specific clauses about store operations, hours, and signage. Negotiating favorable lease terms can be difficult, especially for smaller businesses.
4. Operational Constraints: Mall management often imposes operational constraints, including strict opening hours, maintenance fees, and compliance with mall policies. These can limit the flexibility of store operations.
5. Market Fluctuations: The retail market can be volatile, with fluctuations in consumer demand and economic conditions impacting sales. Malls can also suffer from declining foot traffic if anchor stores close or if the mall itself loses popularity.
6. Initial Setup and Legal Requirements: Setting up a new store involves navigating through legal requirements, acquiring permits, and ensuring compliance with local regulations, which can be time-consuming and complex.
7. Brand Recognition and Marketing: Establishing brand recognition in a new location can be challenging. Effective marketing strategies are crucial to attract customers, which can be resource-intensive for new or small businesses.

Overcoming these challenges requires careful planning, sufficient capital, a clear understanding of the market, and effective marketing strategies. Click here for more information or email on support@perpayment.com