Commercial Guidebook | Real Estate Investor Magazine Commercial Handbook 2013 | Page 12

RETAIL instrument suppliers, outdoor activity outlets, sportswear stores, speciality stores and telephone service stores should be included. It is important to match the size of all of these stores with the anticipated trading density that the optimal catchment area of the centre shall offer. Tenant profiles of successful shopping centres Trendsetting retailers: those chains which constantly deliver both a leading product offering and store design which is modern, inviting and customer-appropriate. A high number of speciality stores: Although landlords rely on national and provincial chains to accrue sustainable rental income, high-quality speciality stores create variety and cause shoppers to return to a centre on several occasions. Two critical requirements of variety specialist stores are that (i) they be sellers of exceptionally high quality merchandise and (ii) implement a carefully strategised marketing campaign so as to ensure that their target clientele are adequately aware of their product offering. Sustainable restaurant mix: a carefully-structured and properly segmented research survey should be conducted amongst each shopping centre’s target market in order to establish eatery preferences that will sustain continued patronage. Quality informal retailers: informal traders (such as craft marketers) often contribute towards both a mood-enhancing environment and the integration of a shopping centre into the local community (and vice versa). However, these informal traders need to be of an exceptional standard and present an image which is designed to enhance a shopping centre rather than create the appearance of a down-market trading environment. It is a real concern all over the world that flea markets are prone to become areas in 10 Commercial Handbook 2013 which stolen, illicit, poor quality knock-offs and fake goods are made available to shoppers. Drugs and other illegal substances are also likely to be sold from mismanaged micro-trading environments. Dedicated busking areas: busking can be a moodenhancer which can lead to visitors becoming sufficiently comfortable so as to be transformed into shoppers and repeat-shoppers. However, buskers need to complement the typical shopper profile of the subject centre and not be intrusive. For this reason, buskers should be allocated locations which do not intrude on visitors’ pathways or movement. The management of a prominent shopping centre in Gauteng places loud, intrusive buskers at its main entrance and this has a decidedly negative affect on patrons entering the centre. (3)Creating an attractive shopper-tainment environment A third and vital compo nent towards creating a shopping environment which will attract retain shoppers on a sustainable basis is to establish a centre which becomes a home-away-from-home for patrons. There are three elements to this process: creating an ambience which makes shoppers feel special; holding frequent and upmarket events to which visitors feel invited, and ensuring that your tenants work together to provide service excellence. Creating a special ambience Creating a special, inviting ambience means introducing special water features and artwork which counters the clinical appearance of your shopping centre: a number of shoppers visit a mall in order to remove themselves from a mundane home environment and the inclusion of attractive features which promotes a picturesque environment is a way of enticing shoppers to visit often and stay longer. There are a number of environment-enhancing factors that are critical to establishing sustained success. www.reimag.co.za