The Speedway is one of the most iconic and recognizable shopping centers in the country. With a whopping six restaurants and over 100 stores inside, it’s no wonder why. Located in the city of Indianapolis, Indiana, the center is dedicated to serving the community’s needs and offering quality affordable products.
As a city that prides itself on being the “crossroads of America,” Indianapolis has embraced the concept of supporting local businesses and organizations. One such group is the Speedway Children’s Museum. Opened in 1978, the institution has grown to become one of the largest children’s museums in the country with over 100,000 visitors per year.
In light of this, the museum’s board of directors decided that it was time to expand and improve its facilities. In order to do this, they came up with an innovative idea: a shopping mall for children.
The result is the Indianapolis Kids Market. Similar to other traditional shopping malls, the Kids Market is full of shops and restaurants that cater to consumers who are either younger or more accustomed to technology than previous generations. In addition, the center has a large food court that is open until 9 p.m. on weekdays and until 7 p.m. on weekends, ensuring that even those who are older have the option of eating out during the day.
Although the market is targeted toward the city’s youth, it’s open to everyone. That’s one of the things that makes it so unique and appealing. It provides a different type of shopping experience for the entire family.
How Does It Work?
The idea for the mall came about due to a rise in the number of “pickers” – shoppers who use their cell phones to scan products as they walk through the mall, looking for discounts. It was identified that, with the rise of online shopping and discount codes, consumers are looking for ways to save money while spending more time in the mall. This rise in digital pickers put a spin on how retailers can succeed in the coming years.
Positive Impact For Local Businesses
The mall provides a positive impact for local businesses in several ways. First, due to its size, it encourages businesses that are located nearby to collaborate and set up shop in one another’s storefronts. Second, the mall provides a more eclectic offer, attracting visitors who would not normally shop at a traditional retail location.
One of the center’s prime mottos is “bringing affordable luxury to the masses.” It does this through several strategies. First, the rents are affordable, ranging from $5 to $7 per square foot, which are the same as most other mall properties. Second, the stores and restaurants there offer luxury goods at discount prices. Third, the quality of the goods is exceptional, and the selection is broad, ranging from luxury brands to popular culture and everything in between. Finally, the overall atmosphere is one of quality and affordability, making it a destination that everyone can enjoy.
A Fresh Take On The “Traditional” Mall
Although there are plenty of successful and iconic traditional malls, the brand new Kids Market represents a fresh take on the familiar shopping experience. Gone are the cheesy, brightly colored decorations and the overflowing parking lots. Instead, the designers behind the mall decided to infuse the traditionally bland mall with a bit of fun, creating a colorful, youth-oriented environment. This reflects the demographics that the mall serves, but it also provides a more enjoyable shopping experience for the entire family.