Need to gain better insight into shopping mall performance

1. CLEAR VIEW
USING DASHBOARDS
TO SHED LIGHT ON
YOUR RETAIL VENUES

2. CLEAR VIEW
USING DASHBOARDS
TO SHED LIGHT ON
YOUR RETAIL VENUES
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3. CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
OWNERS AND MANAGEMENT
TEAMS AT SHOPPING VENUES NEED
REAL-TIME INSIGHTS ON DEMAND.

4. CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
WITH DATA THEY CAN IDENTIFY
TRENDS AND PATTERNS AROUND
VISITOR FOOTFALL AND SPEND.

5. BETTER INSIGHT ENABLES TEAMS TO:
Establish performance
benchmarks between
or within venues
Increase profitability
by making informed
business decisions
Introduce new initiatives
for tenants and their
end-customers
Improve service and
maintenance based
upon real-time data
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE

6. TO SEE DATA IN ACTION, LET’S
PAY A VISIT TO SMITH’S MALL.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
SMITH’S MALL

7. WHEN SMITH’S MALL OPENED IN
THE MID 1980S, IT WAS A STATE
OF THE ART SHOPPING VENUE.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
SMITH’S MALL

8. IN THE 80’S SMITH’S HAD IT ALL:
The best stores The best restaurants
(well, two)
The best parking
in town
It even had fountains running down Midsummer Boulevard.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE

9. IT WAS THE GO-TO
SHOPPING VENUE
FOR MILES
AROUND.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE

10. New, more attractive
shopping venues arrived and
started taking business away.
Then online shopping came
into town.
BUT OVER THE
YEARS SMITH’S
BEGAN TO LOSE
IT’S ALLURE.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE

11. They had no clear picture
around what was going on.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
MANAGEMENT AT
SMITH’S MALL AND BACK
AT HQ DIDN’T KNOW
WHICH WAY TO TURN.

12. CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
They had no clear picture
around what was going on.
MANAGEMENT AT
SMITH’S MALL AND BACK
AT HQ DIDN’T KNOW
WHICH WAY TO TURN.
THEY WERE
OPERATING
IN THE DARK.

13. IT WAS NO GREAT SURPRISE WHEN
SMITH’S MALL OWNERS STARTED
DRAWING UP PLANS TO SELL THE
SITE FOR REDEVELOPMENT.
But first, a last attempt to
salvage the situation was
put in place.
Retail property consultant,
John Taylor was drafted in. FOR
SALE?
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
SMITH’S MALL

14. With a strong background in
analytics, Taylor was alarmed
to find a management team
with very little in the way of
business intelligence.
To address the situation, he
brought in new software to
capture data from around
the site.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
HE KNEW THE PLATFORM WOULD
HELP SMITH’S TO GAIN A BETTER
UNDERSTANDING OF...

15. VENUE OVERVIEW SALES
Year on year sales
for each month.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
NOV
0
185,000
370,000
560,000
740,000
930,000
1,115,000
DEC
SALES
JAN FEB MA
2016
2015

16. SALES VERSUS RENT
Showing the
extent to which
rental income
rises and falls in
comparison to
turnover.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
NOV
69,583
0
381,739
693,895
1,006,051
1,318,207
1,630,363
1,942,519
DEC
VALUE
JAN FEB MAR
SALES
RENT

17. FOOTFALL ANALYSIS
To create a
more detailed
back story to
overall sales.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
NOV
2.00
2.75
3.5
4.25
5.00
5.75
6.5 TARGET FOOTALL
ACTUAL FOOTALL
DEC
VALUE
JAN FEB MA

18. VENUE SALES VERSUS TARGET
Showing how actual
sales exceeded or
underperformed
each month.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
NOV
600,000
950,000
1,300,000
1,700,000
2,000,000
TARGET SALES
ACTUAL SALES
DEC
VALUE
JAN FEB MA
2,400,000
250,000

19. TENANT SALES VERSUS TARGET
Drilling down
to the detail to
compare the
performance
of comparable
tenants.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
45,000
47,500
50,000
52,500
55000
ACTUAL SALES
TARGET SALESSALES
57,500
42,500
DOROTHY
PERKINS
NEXT FOR
WOMEN
PRIMARK

20. Three months later the picture is much clearer.
THE CURRENT VIEW
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
Real-time data around the tenants
- which sector they work in and the
details of the rent and sales for each
business - has changed the game.
Taylor can now see which businesses
achieve the best revenue, draw the
biggest crowds, and pay the most rent.

21. THE CURRENT VIEW
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
He can see how many customers are
visiting each unit and how much per
head they are spending.
From industry research, he can also
assess whether these figures are
comparable with other shopping
venues in the same market space.

22. THE CURRENT VIEW
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
Footfall rates across the venue
indicate that Smith’s Mall is attracting
30% less traffic than would be
expected for its location, population
density, and demographic makeup.
30%LESS

23. THE CURRENT VIEW
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
The data indicates existing anchor
tenants are underperforming and
not driving footfall to the venue.
The main impact for Taylor and
his team is that tenants are not
renewing their leases.
CLOSED

24. THE MESSAGE IS CLEAR:
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
Taylor needs more customers through the door.
SMITH’S MALL

25. CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
AS A QUICK FIX HE
INTRODUCES POP-UP
STANDS FOR LOCALLY
BASED COFFEE AND
STREET FOOD VENDORS.
THIS PROVES TO BE A
REAL HIT.

26. CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
HE ALSO SETS IN MOTION A
PROJECT TO CLEAN, RE-DECORATE
AND REDESIGN THE VENUE.
Longer term he believes more branded food and beverage
outlets will be the key to bringing customers to Smith’s,
encouraging them to stay longer (and spend more).
SMITH’S MALL

27. After a series of consultations with
tenants he agrees a rolling schedule
of events, sales and one-off
promotions. As a result, customers
now look forward to something new
on offer at Smith’s each week.
Importantly, the Smith’s
Mall team have the analytics
to measure ROI on every
initiative that is put in place.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE

28. LAST BUT NOT LEAST,
THERE IS THE BRAND...
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
Smith’s Mall took its name from
family tradition. Fine in 1986,
perhaps, but not in 2016.
Through a competition among local
schoolchildren and online customer
feedback forms, Taylor develops a
bright new logo and a new name.
It’s partly inspired by the data
analysis that was the foundation
for Smith’s rebrand:
Future

29. CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
THE BRIGHT FUTURE
SHOPPING EXPERIENCE.
John Taylor is now CEO of Bright Future. Currently he’s in
discussions with new investors and the local authority to expand
the venue into a leisure, outlet and shopping destination.
Future

30. CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE
HIS VISION IS FOR BRIGHT FUTURE
TO OUTSHINE EVERY COMPETING
VENUE WITHIN 100 MILES.
WE ARE SURE HE’LL DO WELL.
Future

31. FOURS LESSONS FOR YOUR
OWN BRIGHT FUTURE:
1. Shopping venues are constantly changing. The fact that they were
once successful is no indication they will thrive in the future.
2. Detailed measurement and analysis of customer and tenant
behavior is vital to understanding which venues are performing
well and which are underachieving.
3. Data analytics - measuring areas such as footfall, sales versus
rent, sales versus target, tenant sales versus target - will give
you an evidence base for future improvement.
4. Continuous monitoring on a weekly, monthly, quarterly and
annual basis leads to better awareness of changing patterns of
customer behaviour and preference.
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE

32. IN TODAY’S COMPETITIVE MARKET, RETAIL
PROPERTY INVESTORS MUST WORK IN CLOSE
PARTNERSHIP WITH THEIR TENANTS.
See why. Download: Future Collaboration: the
new imperative for retail property investors
DOWNLOAD
CLEAR VIEW - USING DASHBOARDS TO SHED LIGHT ON YOUR RETAIL SPACE

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