Retail Asset Services Optimisation White Paper

This clearly has connections to placemaking, and while placemaking has always been a core part of asset management, it needs to be viewed and acted on as a core priority to enable the asset to become a community destination, which drives experience and interaction. Asset managers and owners need to create an experience that recognises consumers’ search for purpose, and a shift to brand engagement and creation, rather than just adopting a transactional focus. The changes in the way people shop and enjoy shopping centres are driving numerous initiatives aimed at gaining a deep understanding of centre visitors. The implementation of Smart Data tools assists asset managers and owners in the collection of information that reveals behavioural insights, which then allows for the customisation of communications, spaces, and strategies for each centre. This, in turn, boosts foot traffic and sales and enhances customer engagement. The immediacy in data analysis provided by these custom applications results in an increased average visitor’s stay in the centre and a higher success rate in cross-selling.

Ultimately the attractiveness of the centre, regardless of size, needs to be viewed through the eyes of the customer to identify what resonates with them. Adopting such a customer-centric approach will help identify which improvements should be prioritised and help inform the longer-term strategy for the asset.

RETAIL ASSET OPTIMISATION FOR TOMORROW

CUSHMAN & WAKEFIELD

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