Today shopping centers usually employ one of two models of relationships with tenants.
The first one is a well-known fixed lease policy, when the tenant’s monthly payment doesn’t depend on the number of customers drawn in or on the actual profits of the tenant. This model is becoming increasingly out of date due to several factors, including that the lease is not substantiated and it doesn’t consider the key criterion — traffic.
The second model is the supported by MegaCount and it is based on the individual lease. The most important coefficient here is the real footfall of the mall within a certain period of time. The traffic is counted in all the areas in the shopping center, and that data becomes the basis for a tenant’s bill.
A tip: if you have the task of sorting the areas of your shopping mall according to their traffic, the Statistics software will easily do that for you. Just install MegaCount counters at the key points of the building and start gathering data.
The second model is considered to be more just and substantiated because tenants only pay for the real footfall. If a mall attracts 200,000 people in a month, 150,000 of which visited a perfume boutique located near the entrance and just 10,000 reached the faraway corner with a jewelry store, it will be fair for the perfume boutique’s lease to be 15 times higher than that of the second store. In this case we can say that the mall sells traffic and not the square meters.
Don’t forget that to maintain the acquired traffic it’s necessary to create a comfortable environment. For instance, the majority of the time customers spent in a mall they spent on food, communication and entertainment, none of which has to do with shopping. It’s obvious that the more time a person spends in a shopping center, the more purchases they make. Try addressing the factors influencing the behavior of your customers — change the background music, the lighting, make announcements on the mall radio. Observe the reaction of the customers and adjust the strategy. MegaCount counters can help you take your shopping mall to the next level.
To increase the profitability of a shopping center, it’s necessary to determine the areas where you need to draw more customers.
By installing the MegaCount people counting system, you can find the answers to the following questions:
How effective is the current marketing campaign and what are the real results of the launched special offers?
How is the customer flow divided in the mall and how adequate is your tenant range?
How do the customer traffic tendencies change and what factors influence them?
When is the mall’s “rush hour” and how good is the service?
Any shopping center is a unique project with specific placement of entrances, elevators, escalators and stairs. To count the customer and analyze the footfall within a mall, it’s crucial to correctly estimate the number of counters needed and choose the location for their mounting. That’s why it’s important to find a professional who has the experience of dozens of realized projects. The comprehensive MegaCount system allows combining various devices depending on the conditions and add them to a single analytical Statistics software that was developed to suit the needs of shopping malls.