• etermining the typical population profile of
D
the subject shopping centre’s catchment area: this
exciting centre which encourages repeated sales but
also establishes a sustainable centre which endures
• etermining the typical expenditure profile and
D
pattern (the spending capacity) of the subject shopping
centre’s catchment area and estimating the subject
shopping centre’s probable market share. This refers to
the most probable number of shoppers at each income
level that shall frequent the subject shopping centre
during the various days of the week and will enable
landlords to estimate the typical expenditure across
each retail category.
(2) Meeting the needs of a diverse shopper
spectrum
• etermining the optimal retail sector mix to
D
match the typical expenditure profile which the
subject shopping centre shall sustain during the each
day of week.
So, depending on the optimal catchment area’s
population numbers and profile, the size of the required
food supermarkets, clothing and shoe stores, furniture
stores, banks and department stores can be determined
by projecting the anticipated trade density of each store.
will include the typical income level, living standard
measure profile and age profile of the subject shopping
centre’s catchment area.
• Matching the optimal retail sector mix to the various
trading densities required by each retail tenant to
formulate the optimal tenant composition of the subject
shopping centre.
• Design the optimal layout of the tenant mix so as to
procure the optimal design, retail-sector content and
tenant mix of the subject shopping centre.
for decades: patrons come to accept that such centres
meet all of their shopping needs and refrain from
going elsewhere.
The tenant mix that is ultimately selected and
implemented will determine the sustainability of a centre
by, ultimately, establishing a centre of mass appeal.
A hi-tech model can be used to project the ideal
tenant mix by formulating the split between the
required anchors and the line shops.
Thereafter, the necessary line shops (that is those
smaller retailers without which modern society
cannot do without) are inserted. These will include
optometrists, cellphone shops, restaurants, coffee
shops and fast food retailers, fabric and linen
providers, computer service providers and business
service providers.
Once the optimal tenancy requirements have been
empirically derived, a balance between national
retailers and line shops can be formulated to provide
shoppers with access to standard goods and brands
as well as unique supplies which titillate a shopper’s
interest in browsing and shopping for more than just
basic requirements.
In order to establish an exemplary centre, the
inclusion of entertainment providers, health and beauty
practitioners, hairdressers, medical practitioners,
homeware suppliers and interior designers, security
service providers, toys and hobby shops and travel
service providers is preferable.
Most retail landlords err by believing that a national
tenant profile creates an income-stable centre and
forget to encourage line shop tenancies. However,
having a wide variety of line shops creates not only an
antique sellers, audiovisual- equipment distributors,
booking offices, book shops and stationery providers,
confectionary and sweet shops, dry-cleaners, jewellers
and fashion accessory outlets, f lorists, musical
www.reimag.co.za
And, to round off an exemplary centre, art and
Commercial Handbook 2013
9