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Trade and tenant mix has enormous implications for the success of any retail mall and correctly identifying the most suitable combination is as much an art as it is a science. Perhaps the first thing to note is that the mix is not static but evolves over time in response to changing context (more detail later). Mistakes made in defining the mix can be costly while success sees complementary tenants feeding off each other, meeting shopper needs and optimising revenues.
A wide range of forces define trade and tenant mix including catchment demographics, transport infrastructure as well as the competitive landscape and all these need to be understood not just in today’s market but in the future market also. What changes are expected? New roads or rail lines, new residential or commercial developments in the surrounding area, ageing populations, rising household incomesor shifts in gender profiles? All should be considered.
Source : Savills
