Commercialisation looks local

Published:  12 October, 2016

Malls are having to grow their own traders, according to Space to Trade

Mobile phones accessories and beauty bars are reaching saturation while customer acquisition activity - mainly from charities – is shrinking according to Space to Trade MD Paul Clifford. And as the market hardens in terms of inbound requests, this is resulting in occupancy rates in some cases as low as 20 per cent and averaging 45 per cent.

“The question is not what is the next big thing, but more a question of identifying the most effective method of acquiring new, fresh and truly relevant business,” said Clifford. “The new business is local, the method is getting out there with a plan of attack and the mind-set is to truly understand the business you wish to add to the offer. In the words of US self-help guru Stephen Covey, ‘Seek first to understand, then to be understood.’”

And Clifford believes the days of simply placing traders in locations only to achieve occupancy have passed. “We need to work differently,” he said. “Focus on relevance and sustainability and increased rents will undoubtedly follow.”

Space to trade is claiming between 65 and 80 per cent occupancy by using this method, with a result of more money being generated for clients and retailers who benefit from weekly on site reviews with sales managers.

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