In this economy and the shopping centre property market, it is important to understand your customer and continually monitor their needs and requirements. Rent and leases need to be protected from the impact of the economy. Great retail properties do not just happen, they are shaped and built on to a plan.
The way to strengthen the shopping centre performance and underpin the rental is to optimise customer visitation and spending. When the rental for the property is underpinned by good levels of trade you have happy tenants. This is the fundamental focus that all Landlords, Shopping Centre Managers, and Leasing Managers should aspire to. Get the balance of rent and sales under control.
Today’s Economy and Retail Property
Given that the economy is under some pressure, this has real impact on the levels of sales that some tenants can achieve and some properties can create. In this market the tenant mix and stability for your shopping centre becomes more important than ever before.
This optimisation always comes down to the customer in every respect. Landlords and shopping centre managers in today’s economy must be ever vigilant to strengthen the property performance. Careful tenancy placement and customer interpretation is part of that process.
Without customers in a retail property today, nothing will work, regardless of how new and modern the property is. It is the experience and service that a property creates that brings customers back. Your property experience needs to be equal to or better than any other in the area. To do this you need to know what your property is trying to do and who it is trying to serve.
Any negatives that the customer sees or identifies in the property must be minimised. The customers that visit your shopping centre should ‘feel good’ regards the experience. You want them to come back often. The ‘feeling good factors’ about a property can be many things including:
1. Car park usage
2. Safety and security
4. Ease of access
5. Public transport
6. Tenant mix offering
7. Presentation of the tenancies
8. Common area services and facilities
9. Price points
10. Entrances and thoroughfares 레플리카사이트
11. Demographics of the customer base
12. Special social areas and food courts to extend the visit.
13. Entertainment facilities.
Undertaking customer interviews on a regular basis is a sound and sure strategy to maintain awareness of the needs and the demographics of the customer. Customer surveys on a quarterly basis undertaken by a professional survey company, on different days of the week, will capture the sentiment of the customer. The results of the surveys can be integrated to your property business plan and budget. Regularity in the survey process is important so that you identify any changes as they start to impact on the property.
In this market, landlords and shopping centre managers should be sensitive to any negative feedback which has commonality across the customer surveys. Look for common complaints and observations that customers give you, and then adjust your property quickly to minimise impact on the rental and sales.