Considering the current credit crunching state of affairs in Ireland, Dundrum Town Centre is faring surprisingly well. As centre manager Don Nugent puts it: “Centres like Dundrum are beacons of light in turbulent times.” That said, even centres that are prospering must look for ways to bolster customer spend and Dublin-based Dumdrum is no exception.
- SpaceandPeople signals shopping centre advertising surge
Advertising revenues in shopping centres are on the increase, according to listed ad agency spaceandpeople, which reported revenues up 18 per cent year-on-year.
Published: 20 February, 2010 - New innovations flood the children's sector
The children’s industry has always maintained a steadfast audience, and shopping centres are in a position to benefit from having great family appeal.
Published: 20 January, 2010 - Major brand names bolster shopping centre commercialisation
Centre managers are using major UK brand names in the fight generate much-needed income. But innovation is key if brand promotions are going to work well
Published: 20 January, 2010 - Brandspace wins exclusive contract with Capital Shopping Centres
Brandspace, the subsidiary of out-of-home media specialist Promotion Space Group, has won exclusive rights to manage all promotional and experiential marketing for the UK’s largest landlord, Capital Shopping Centres.
Published: 13 January, 2010 - BCSC conference: Launch of Commercialisation report
The launch of BCSC’s commercialisation report – a joint effort with the PMA (Property Managers Association) – took place at this year’s BCSC conference to widespread acclaim. Consisting of 10 key recommendations for optimising commercialisation opportunities, Mall Commercialisation - An Introductory Guide for Retailers and Property Professionals is directed at landlords but fundamentally encourages a stronger relationship between management and retailers.
Published: 25 November, 2009 - Fashion Alert: Centres are using fashion shows more than ever. But is this the way forward?
At times like this, shopping centres are often stuck in a catch-22. On the one hand, landlords with vacant units need to supplement their income by charging for events. On the other, cash-strapped shoppers need more encouragement than ever to part with their cash. But is driving footfall and sales revenue in the long-term becoming important than events that generate direct income?
Published: 25 November, 2009 - Gift cards are more than a commercialisation tool; they capture invaluable consumer data
The gift card industry has seen radical changes over the past decade. Initially seen as a commercialisation initiative, it now comes firmly within the marketing manager’s remit, according to Sue Boor, PruPIM’s head of shopping centre marketing.
Published: 25 November, 2009
A Commercial ChristmasThis time last year, the UK retail market was in turmoil. Future plans became uncertain, shoppers reined in their spending and weaker retailers went into administration. Twelve months on, the impact of recession has changed the outlook of landlords and retailers. Commercialisation over the upcoming Christmas period is a good indicator of where retailers see themselves now, and the current level of confidence as Britain enters the final quarter of 2009.
Published: 25 November, 2009
Gift cards are becoming more popular BigStockPhoto
Gift Cards: A powerful way to promote brand awarenessThere is nothing new about gift cards: in their former guise as paper-based vouchers they have been knocking around since the eighties. However, despite physical and technological transformations and rapid take-up in the UK, the nation’s retailers and shopping centres continue to lag some way behind our American counterparts.
Published: 27 August, 2009
Style Icon competition
Style Icon: Fashion contests entice shoppers into centresHosting events in the communal area of a mall forms a key part of a shopping centre’s commercialisation strategy. However, today’s credit crunched customers need more incentive than ever to set foot inside the nation’s malls.
Published: 27 August, 2009- Dundrum town centre boots footfall with pink promotionsFilling the voids adds value to shopping centres
The proliferation of empty units is an unhappy by-product of the worst trading conditions for several decades. Shopping centre managers, landlords and letting agents are striving to get them filled but in the absence of a suitable tenant willing to sign a 10-year lease, there are other options. Short-term lettings to retail merchandising unit (RMU) operators, local university students and promotional brands are all options being explored by canny shopping centre operators.
Published: 26 June, 2009LettingsAylesburyHolland & Barrett has taken an assignment of Clinton Cards’ existing lease on Unit 43, Friars Square Shopping Centre. The lease expires in October 2018 and the current passing rent is £80,000 pax. The premises comprise 1,520 sq ft on ground floor plus 420 sq ft of ancillary space. Smith Price acted on behalf of Holland & Barrett while Brasier Freeth represented Clinton Cards.Published: 18 March, 2009Digital advertising is a sign of the timesDigital signage networks are a common sight in many of the UK's shopping centres, with advertising being a successful outlet for the generation of non-rental income. While many brands are cutting back on their advertising spend, it seems digital signage is still an area being explored during these tough times.
Published: 15 October, 2008Fashion focussed promotions drive footfallFashion is a vital part of a shopping centre retail mix, with a large number of consumers focused on buying clothes, shoes and accessories. It therefore makes sense that mall events focus on the theme of fashion, and an increasing number of shopping centres are realising that fashion shows can not only attract footfall and increase dwell time and spend, but also assist in generating additional income.
Published: 15 October, 2008Coin operated enterainment makes the most of customers' loose changeCoin operated machines are an ideal way for shopping centres to generate extra revenue without using up too much space in the mall, and with a variety of new products now on the market, there are plenty of options to choose from.
Published: 15 October, 2008Going strongFor the majority of shopping centres and retailers in the UK, the credit crunch has meant a fall in sales and footfall over the past year and has led to a greater number of voids in the mall. Guaranteed rental income from tenants is therefore falling as fewer units are occupied and rents remain static, so shopping centres are being forced to look at other avenues to generate revenue.
Published: 15 October, 2008Standing outOver the past few years, retail merchandising units (RMUs) have become a standard part of many of the UK's shopping centres, and they continue to evolve, with new design concepts constantly being introduced by manufacturers.
Published: 19 May, 2008Playing with cardsGift cards have fast become a popular method for shopping centres to earn extra income, with not only the centre benefiting from additional revenue but also retailers receiving a lift in trade.
Published: 19 May, 2008Driving standardsThe Commercialisation Forum, led by Byron Lewis of Lewis Commercialisation, is due to meet with the BCSC this month to discuss the possibility of establishing an official recognised body, such as a committee, group or association, within the retail property sector.
Published: 19 May, 2008Media mixAdvertising is a strong marketing tool for brands and for companies wishing to promote their products or services to the masses. Digital screens and poster sites in high footfall locations, such as shopping centres, are extremely effective, and remain hugely popular with shoppers.
Published: 19 May, 2008Space managementMention a 19,000-sq ft events hall, 45 mall promotion spaces, a local population far younger than the national average and an annual footfall of 30 million, and it won't come as a surprise that thecentre:mk in Milton Keynes has reported a great deal of commercialisation success.
Published: 19 May, 2008Snap happyPhoto booths have been a source of non-rental income for shopping centres for years, but since the introduction of digital photography, the options open to landlords have grown significantly.
Published: 19 May, 2008Promotion Space buys Brandspace to capture commercialisation market sharePromotion Space Group has confirmed its position as the UK’s leading shopping centre commercialisation specialist by acquiring its main competitor, London-based Brandspace. Brandspace CEO Paul Soanes will join the Promotion Space board as group business development director.
Published: 07 May, 2008Right time and place for Mr WrightCommercialisation agency Promotion Space has appointed ex-BCSC president Richard Wright as group chairman, to support its ambitious growth plans.
Published: 18 February, 2008In and outCommercialisation is now a huge part of every shopping centre's business and as such it's necessary to have a dedicated team of people working solely on this area of income generation.
Published: 18 February, 2008Space invadersBrands are increasingly turning to experiential marketing and sampling to market their products or services, and shopping centres are ideal places for this kind of activity to take place.
Published: 18 February, 2008Window of opportunityStore fronts are being turned into new ways for malls and retailers to generate additional income, thanks to new technology from 3M, WindowGain and Tensator.
Published: 18 February, 2008
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