Understanding the effectiveness of your retail tenancy mix can significantly improve the performance and productivity of your centre
Centre managers, property owners, asset managers and managing agents, need data to understand how shoppers flow through their centre, and in particular to understand how shoppers group stores together. Such data helps you to answer questions such as:
- Do shoppers at John Lewis also visit Marks and Spencer? Or is one anchor store sufficient?
- Will shoppers go out of their way to visit Starbucks? Or do they visit the closest coffee shop?
- Would our centre benefit from the inclusion of a bookstore?
- How do tenant relocatio decisions effect overall centre sales?
Our FootPath™ Technology
The Path Intelligence FootPath™ system consists of a small number of discreet monitoring units installed throughout the centre.
These units calculate the movement of consumers without trequiring the shopper to wear or carry any special equipment.
The units measure signals from the consumers' mobile phones using unique technology that can locate a consumer's position to within 1-2m. The units feed this data (24 hours a day, 7 days a week) to a processing centre where the data is audited and sophisticated statistical analysis is applied to create continuously updated information on the flow of shoppers through the centre. At anytime the shopping centre management can access the data via PI's secure web-based reporting system.
The FootPath™ technology is the only system available on the market today that can gather information on shopper paths continuously and accurately.
FootPath™ can be installed in one centre or across a portfolio, providing you with quantifiable information to monitor your centre and assess the impact of your business decisions.
Information from FootPath™ helps with:
Performance:
- Improve your retail tenancy mix and attract more shoppers to your centre
- Maximise the revenue from tenant stores by optimizing the layout of your centre
Lettings/rental:
- Optimize the price of retail units by understanding the impact of a store's position on its rent per square foot
- Traget potential tenants for empty lots by understanding which stores consumers consider complementary
- Reduce rental disputes by using our independent data on traffic past each unit or site
- Present current and prospective tenants with actual shopper movement to demonstrate traffic past the site and linkages between the site and other retailers
Operations:
- Optimize staffing levels according to shopper flow in specific areas of your centre (e.g. Food courts and toilets) to reduce costs and increase customer service
- Reduce pedestrian bottlenecks by understanding people flow at peak times
- Optimize maintenance schedules by understanding the 'most trodden' routes
Marketing:
- Quantify the impact of particular promotions or centre events
- Optimize the pricing of advertising space within your centre
- Increase value from your marketing spend by specific targeting of your advertising and promotions
- Attract new revenue through advertising, sponsorship and on-mall trading with proof of potential customer exposure
Security:
- Identify unauthorized individuals in 'no go' areas of the centre
- Identify suspicious 'left' luggage
Reporting via PI explorer
Path Intelligence Explorer is our secure, internet delivery solution. Your data can be accessed 24/7, allowing you the convenience to interrogate your information from anywhere in the world. PI Explorer allows you access to an easy-to-use graphical interface, using a simplesslider bar to see how shopper density changes across your centre during the course of a day or week, and highlightingwhich stores shoppers group together on a typical shopping trip. Our easy-to-use interface also allows you to scrutinize particular features of your centre - such as the flow through your centre onto neighbouring high streets - while our graphic functionality allows you to compare week-on-week changes in your centre and to view historical data.
PI explorer provides:
- Automatic integration of weather information, car park counts and in-centre events. (With the permission of your shopper count provider we are also able to integrate footfall information)
- Full download functionality of your data to your system
- Security alerts that send an SMS message should a security situation be identified
- Operational information for th epeak times for centre toilets and lifts
- Fully formatted graphing functionality into Excel
