market research in shopping mall planning
DESCRIPTION
2nd Shopping Center Planning &Management Seminar was organised by Maad Retail Studies Center in tehran, Iran, 21-22 October 2013. Participants were top development companies from Iran. The seminar was a successful contribution to the development of the shopping center industry in İran.TRANSCRIPT
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MARKET RESEARCH IN SHOPPING MALL
PLANNING
DR SUKRU ASLANYUREKRETAIL VISION LTD, ISTANBUL
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LAST WORDS AS FIRSTDOING MARKET RESEARCH IS THE FIRST DECISION TO BE MADE IN MALL PLANNINGMAKE RESEARCH YOUR BEST DISPLAY OF «BOSS EGO»:THE COST OF NO «RESEARCH FIRST» IS HUNDREDS OF TIMES GREATER THAN MARKET RESEARCH ITSELFMAKING THE BEST USE OF RESEARCH RESULTS TAKES COURAGE, WISDOM, MATHEMATICAL SKILLS AND ABILITY TO MANAGE A TEAMNO OTHER SKILL CAN REPLACE ENTRPRENEURIAL SPIRIT.
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MALL DEVELOPMENT OBJECTIVES
PROFIT
SUSTAINABILITY
BRAND DEVELOPMENT
SOCIAL ISSUES
DEVELOPER
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VARIABLES: OUTSIDE AND INSIDE• ECONOMY • SOCIETY
• POLITICS• CITY
FINANCE
TEAM
TENANTSDESIGN
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STEPS AND TOOLS IN RESEARCH
SCIENCE FIRST
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LOOKING AT THE MARKET: AN EAGLE’S VIEW
AREA OF STUDY
1.GEOGRAPHY
2.ECONOMY
3.SOCIETY AND CULTURE
4.RETAIL PROPERTY AND BUSINESS
5.TECHNOLOGY AND BUYING BEHAVIOUR
TOPICS AND TOOLS 1.URBAN DEVELOPMENT AND LOCATION DATABASE
2. INCOME , EMPLOYMENT , SAVINGS AND VALUE ADDED
3.FAMILY; LEISURE; CONSPICUOUS CONSUMPTION; EDUCATION ,CUSTOMS
4.SUPPLY OF RETAIL PROPERTY AND THE STRUCTURE OF DEMAND
5.DIGITAL MEDIA , COMMUNICATIONS, CUSTOMER EXPERIENCE MANAGEMENT
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PLANNING PROCESS
1. phase: THE MARKET
2. phase: REGULATIONS
3.phase: MONEY MATTERS
BRAND POSITIONING
BUILDING PERMISSION
ADMINISTRATIVE & INFRASTRUCTURE
TARGET MARKET CONSERVATIONCONSTRUCTION AND PROJECT MANAGEMENT
SHARE OF WALLET
LOCAL CHARACTER
MARKETING AND CONSULTANCY
TENANT MIX COMPETITION RETURN ON INVESTMENT
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STEP BY STEP RETAIL IS DETAIL
Resim eklemek için simgeyi tıklatın
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RESEARCH 1: GEOGRAPHIC INFORMATION SYSTEMS (GIS): LOCATIONS TELL THEIR STORY
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RESEARCH 2: GEOGRAPHY AND ECONOMICS: HAND IN HAND
TURKEY 2013
•€ 148-178 BILLION • %55 UNOFFICIAL•3 MIO EMPLOYED
ORGANIZED RETAIL•%35-50. •550.000 EMPLOYED
REGIONAL DISTRIBUTION•İSTANBUL %40 • NEXT 6 PROVINCES %30-40•OTHER (74 PROVINCES) %20-30
AN ANALYSIS OF TOTAL INCOME AND RETAIL EXPENDITURE IDENTIFIES THE SHARE OF REGIONS, CITIES AND SPECIFIC LOCATIONS IN TERMS OF THE SIZE AND NATURE OF THE RETAIL BUSINESS TODAY AND TOMORROW
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GEOGRAPHYMONEYTIMESPACE
RESEARCH 3: DNA OF HUMAN LIFE MONEY, TIME, SPACEG
MT
S
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3D «MARKET SEGMENTS» I
TARGET MARKET SEGMENTS CAN NOW BE DEFINED NOT BY RECTANGLES BUT 3D CYLINDERS OF DIFFERENT SHADES OF COLOUR
A + A1 A2 BX B1 B2 CX C1 C2D E
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“GREAT BRITISH CLASS SURVEY” BBC -1
1. Where you live2. Tastes and areas of
interest (a) Activities (b) Choice of music ( c) Food 3. Education4. Social
relationships/groups 5. Media preferences6. Social influence and power7. Profession
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“GREAT BRITISH CLASS SURVEY” BBC -2 8. Family history9. Vacation preferences10. Money 11. Demographics12. Opportunities( for career and jobs)13. Class ( Lower working, Middle working, Top wage earner, Medium wage earner, Low wage earner, Upper class)
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RESEARCH 4: RETAIL PROPERTY AND BUSINESS
TURKEY 2013
RETAIL PROPERTY• RETAIL CENTERS 330 MALLS / 9 MİO M2. • DOWNTOWN RETAIL: ????
ORGANIZED RETAIL• CHAINS: 300 FMCG +300 OTHER• LOCATIONS: 30-3000 STORES• AVE. SIZE (NON-FOOD) 80 STORES *200 M2 =16000 M2
NON-FOOD BRANDS IN GROWTH FASHION, LEATHER AND ACCESORIES ELECTRONICS AND HOMEGOODS FOOD SERVICE
THE NATURE, SIZE, VALUE AND DISTRIBUTION OF RETAIL PROPERTY AMONG REGIONS, CITIES, LOCATIONS AND BRANDS
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STRATEGY MATTERSDEFINING THE BUSINESS
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DEFINITION OF TRADE AREAPRIMARY TRADE AREA ( e.g.0-10 km)SECONDARY TRADE AREA (e.g. 11-30 km)TERTIARY T.A. (e.g. visitors
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SHARE OF WALLET AND TENANT-MIXSHARE OF WALLETULI CATEGORY SHARE IN TRADE
AREA
A-D-E %12
B-C- %14
N-S %6
F-G %17
M-N-R %5
P-S %10
T-Y %8
W-X- %12
FMCG %5
TENANT MIX (% OF GLA)TENANT TYPE % OF SPACE
ANCHORS %25-50
FOOD %50
NON-FOOD %50
MEDIUM SIZE 10-20%
SPECIALTY 30-50%
FASHION %70
NON-FASHION
%30
SERVICE 5-15%
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FINALLY: MONEY MATTERS
FINANCIAL
ASPECTS OF
MALL
DEVELOPMENT
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ADMINISTRATIVE AND INFRASTRUCTURE COSTSLOCAL GOVERNMENT PLANNING PERMISSIONS
REGİSTRATION, LICENSING AND LEGAL DOCUMENTS
ENVIRONMENTAL PROTECTION AD DEVELOPMENT
LOCAL INFRASTRUCTURE ( ROADS, SQUARES, GREEN AREAS, SEWAGE ETC)
ENERGY PROVISION
SOCIAL AWARENESS ISSUES
UNEXPECTED COSTS
SHARE IN TOTAL DEVELOPMENT COSTS DEPENDS ON LOCAL CONDITIONS. 3-20%
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CONSTRUCTION AND PROJECT MANAGEMENT COSTSARCHITECTURAL DESIGN 1-3%
INTERIOR DESIGN 0.5-1.5%
BRAND DEVELOPMENT 0.25%
PROJECT MANAGEMENT 1-2%
STRUCTURE 20-35%
ENGINEERING 25-60%
FURNISHINGS 10%
DIGITAL EQUIPMENT 1-2%
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MARKETING, CONSULTANCY AND MANAGEMENT COSTSoMARKET RESEARCH
oLEASING AGENT
oMARKETING COMMUNICATIONS DURING CONSTRUCTION
oTENANT ALLOWANCES AND SUPPORT
oLAUNCH CAMPAIGN
oCONTRIBUTION TO MARKETING FUND
oMANAGEMENT SOFTWARE AND OFFICE
oMANAGEMENT FEES TOTAL 5-10% OF CONSTRUCTION
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RETURN ON INVESTMENT
WHAT DO WE GET IF WE INVEST?
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WHAT WE MAY GET IN RETURN- 1TENANT MIX RENTAL INCOME
FIXED RENT
% RENT AVERAGE
€10 3% €15
€10 6% €20
€20 7% €30
TENANT TYPE
% OF SPACE
ANCHORS %25-50
FOOD %50
NON-FOOD %50
MEDIUM SIZE
10-20%
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WHAT WE MAY GET IN RETURN- 2TENANT MIX
TENANT TYPE
% OF SPACE
SPECIALTY 30-50%
FASHION %70
NON-FASHION
%30
SERVICE 5-15%
RENTAL INCOME
FIXED RENT
% RENT
AVERAGE
€50 8% €65
€70 10% €85
€10 - €10
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RETURN ON INVESTMENT COMPARED
INVESTMENT PAY BACK PERIOD
LIFE-STYLE AND FESTIVAL
CENTERS4-8 YRS
RETAIL PARKS 6-8 YRS
REGIONAL + MALLS
10-12 YRS
LOCAL RETAIL CENTERS
8-10 YRS
HOW DIFFERENT TYPES OF PROJECTS WILL PAY BACK ON INVESTMENT ( i.e. Rate of return on capital) WILL DEPEND ON ALL OF THE ABOVE.
FIRST AND FOREMOST, ON THE QUALTY OF MANAGEMENT.
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THANK YOU