Retail Asset Optimisation

This can be done in a number of ways and the positive contribution the centre makes to the local community should not be ignored but rather be celebrated. Adding elements such as libraries, sports courts and exercise areas can help embed the centre as part of the fabric of the community. Positioning the asset in this way will also assist in increasing foot traffic, though asset managers also need to ensure that they curate the right tenant mix to increase dwell time. As a result, retail should no longer be viewed as just “shopping”. Amongst larger centres, the evolution towards expanded and more sophisticated food & beverage offerings has been a longstanding trend. More recently, the rise of cosmetic and beauty services tenancies is becoming more prevalent, as is the growth of medical services – “med-tail”. Lastly, competitive socialisation has been rapidly embraced as friends and families seek interactive, physical gameplay. Additional benefits flow to asset owners as these activities typically occupy larger tenancies, which traditional anchors are either vacating or downsizing, thereby helping to maintain overall centre occupancy. Furthermore, these use types are typically active at different times of the day, such as in the evenings, which can help expand trading hours across the whole centre.

RETAIL ASSET OPTIMISATION FOR TOMORROW

ADDRESSING CUSTOMER LOYALTY

CUSHMAN & WAKEFIELD

Customer loyalty remains a significant challenge, especially as consumers have a myriad of ways to shop. Building an authentic narrative around the asset that resonates with customers is essential.

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