Aug 8, 2019
Today's podcast has three sections, and they are particularly about Retail Shopping Centres. The parts of the podcast are:
So the topics are full of ideas for boosting shopping centre performance.
Where can you start your review of shopping centre management? Try this. Understand the complexity and relevance of the tenancy mix. The tenancy mix should be matched to the customers shopping patterns and shopping needs. That is where lease optimization and vacancy reduction plans help a shopping centre 'perform' from an investment perspective.
A shopping centre that is not being 'optimized' from an investment perspective is a 'static investment'. Given that the retail shopping centre market is changing so much, don't let that pressure get into your managed and leased properties.
So, then you can go a bit further. Every property will be different as will be the customer demographic and the shopping patterns. On a regular basis and at least once a year you should be surveying the customers visiting the property to understand exactly what they are looking for as part of their retail purchase.
Think about things today. Are the customers happy with the 'shopping experience' in your managed or leased property? That should be a key focus in understanding what they are thinking and doing in purchasing retail goods and services.