Refreshing the mix of tenants by understanding the actual and potential shoppers
Issue
To identify the size and nature of the available market for clients who managed a ‘tired’ Centre that had recently been the subject of some improvement. To analyse whether there was sufficient market of shoppers at the appropriate lifestages to give the potential to warrant further Centre enhancements.
Solution
FSP conducted shopper surveys and used national statistics to identify the origin of the existing shoppers, their lifestages and their expenditure patterns. The size of the current market was determined together with the number of potential shoppers and their likely spending patterns.
The nature of the demand was refined through a series of focus groups held with potential shoppers.
Results
The Centre was able to attract an enviable list of retailers to its enhanced facilities, the anchor of which was a brand new, purpose-built Waitrose store. A new shopper profile has been drawn to the Centre because of the high value offering, and as a result retail income has increased substantially.
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