A mall owner needs to know not only how many people visit the shopping center, but also how the customer flow is distributed within it. Which tenants attract the most customers and which have problematic traffic? How successful is the placement of the key tenants and which areas in the mall have the densest traffic?
Having installed a people counting system, you get a structured comprehensive analysis of the footfall within the whole shopping center and that of each tenant. It will enable you to determine the lease according to the customer flow. And don’t forget about attracting new clients — prove that you are a strong and reliable partner and arrange marketing campaigns together with the tenants. This is how you can create the image of an attractive proprietor and significantly improve the relations with your tenants.
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 This model is becoming increasingly out of date due to several factors, including that the lease is not substantiated and it doesn’t consider the key criterion — traffic.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.