Build shopper insights and attract best-in-class tenants
The rise of shopping alternatives
Competing with digital alternatives such as Amazon.com, traditional bricks-and-mortar retailers/shopping centers are obliged to invent new ways to appeal to shoppers. This is critical to building better customer experiences. Shopping centers must envision themselves “no longer as real estate brokers, but instead as customer-facing providers of shoppable entertainment” (The Future of the Shopping Mall, McKinsey).
How to attract shoppers in this digital age
The crucial challenge is to place malls at the center of a customer’s shopping world, both online and offline, so as to keep consumers coming back. This means identifying and reinforcing the elements that contribute to your mall’s success and learning how to optimize rental income for each unit. With the precision of location technologies, you can now test, learn from and fine-tune every aspect of leasing, marketing and operations.
Smart Flows Shopping Mall Analytics
Shopping malls are a combination of numerous smaller areas from which visitors come and go. Smart Flows advanced location analytics can be a precious asset when making operational, marketing and real estate management decisions, especially for vast and complex retail spaces.
Maximize operating income
Use traffic information to adjust rental income and thus maximize your asset value. With our retail store metrics, compare retailers’ performance in similar traffic zones and provide valuable insights to your tenants to strengthen your existing partnerships.
Determine the winning tenant-category mix
Track which shop your guests visited first to see which brands are driving the most traffic and which one is your anchor-tenant. Analyze shop correlation to uncover hidden strategies and maximize shopper conversion. Innovate with pop-up stores and monitor their impact on traffic and visitor loyalty.
Build shopper insights for each category
Separate and analyze your visitors by category (shopping, restaurant, movies, recurrent), to understand the patterns and expectations of each of these segments. Measure the correlation between each visited area and optimize your space accordingly.
Evaluate the ROI of marketing activities
Measure the success of marketing activities and their impact on traffic, sales and loyalty rate, prioritize areas of investment and design a cohesive customer experience program.
Monitor the performance of your shopping center
Compare your mall’s performance to a national benchmark and to other standards within your retail portfolio, and make the right leasing and asset management decisions.
Get in touch with us today to activate the power of indoor location technologies, so that we can help you build shopper insights, identify best-in-class tenants and maximize rental income.Contact us