Shopping centers challenging decline: Competitive strategies in three case studies from Madrid's urban area

Abstract

Shopping centers are undergoing a period of crisis, leading to the decline and closure of multiple complexes. In response to this situation, they adopt competitive strategies to remain attractive, survive, and succeed. The aim of this research is to explore these strategies through three case studies in the metropolitan area of Madrid, namely Oasiz Madrid, intu Xanadu, and X-Madrid. A qualitative and mixed method approach is used, including literature review, observation, documentary analysis through newspaper articles and online media, and interviews. It is found that size, the new lifestyle center model, and experiences are the three strategies individually developed by each of the analyzed shopping centers. The common premise is that traditional retail and physical trade are being replaced by leisure and entertainment as key factors to attract visitors. From a management perspective, this study provides guidance for framing the future in shopping centers.