retail property council - what tenants want - new
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Retail Property CouncilThe Modern Retail Business Model and
What Tenants Really Want
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Retailing 2010
The model has changed
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It was once the case of build the shopping centre and they would come
• 1990 – retail space per American – 2.1sqm• 2005 – retail space per American – 4.2sqm
But medium income rose less than 10%
Ref: Big-Box Swindle, Stacey Mitchell
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The Challenge Today
There are too many ‘me too’ centres!
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Customers are now asking for a different experience
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Enter-tainmentEduca-
tion
Am-bi-ence
Es-capism
Create an Experience
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How do you build the experience?
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Number of visits0
2000
4000
6000
8000
10000
12000
14000
16000
18000
20000
20102009
Armadale Library
New Borrowers0
50
100
150
200
250
300
350
400
450
500
20102009
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The Future
Shopping Centres
Activity Centres
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Retailers don’t have to be so clever
Good Times
Retailers have to be clever
Tough Times
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What do tenants want?
• Network marketing support in the centre
• Marketing strategies built on social networking
• Help with retailing
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Network Marketing Support
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Social Network Marketing
• Knox Shopping Centre, USA• Cresent Shopping Centre, USA• Victoria Square Shopping Centre, IRE• Pacific Square Shopping Centre, QLD• Garden City Shopping Centre, WA• Karrinyup Shopping Centre, WA
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Key ‘Help’ Areas Retailers Need
• Store layout• Merchandising and display• Signage• Customer service
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Till
Till
Darkcorner
Store A Store B
Till
Till
Darkcorner
Store layout
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Merchandising and Display
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VS
· _____________
· _____________
· _____________
$
Signage
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Customer Service
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Your Action Plan
1.
2.
3.
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Your Priority Plan as aresult of this workshop
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www.johnstanleyretailguru.com.au
John Stanley’s Member Site
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THANK YOU
www.johnstanleyretailguru.com.au
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