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REM > Marketing of Retail Properties > Flashcards

Marketing of Retail Properties Flashcards

1
Q

What are retail properties?

A
  • Remises used for the carrying of any trade or business where the primary purpose is the sale of goods by retail
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2
Q

Types of retail properties

A
  • Shopping centres/malls
  • HDB Property (eg in HDB town centre, neighbourhood centres)
  • Shop houses
  • SMRT accommodation
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3
Q

Players in Retail Property Market

A
  • Buyers and Sellers
  • Tenants
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4
Q

Players in the retail property market

A
  • Developers, Investors (especially REITs)
  • Retailers
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5
Q

Purpose of Developers and Investors in Retail Property Market

A
  • Generate regular income stream through rental revenue
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6
Q

Purpose of retailers in retail property market

A
  • owner-occupy to conduct retailing business
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7
Q

Tenants in retail properties

A
  • most retailers don’t purchase retail properties.
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8
Q

Why do retailers usually rent properties instead of buying them?

A
  • Lower capital expenditure
  • Allow retailer to remain foot-loose
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9
Q

How long are retail properties leased for?

A
  • Three years
  • Can renew further 3 years
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10
Q

Why companies and businesses could be looking for properties to rent

A
  • New set up
  • Expansion
  • Downsizing
  • Relocation
  • Merger and acquisitions
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11
Q

General factors affecting pricing of retail properties

A
  • Location
  • Accessibility
  • Condition
  • Size and shape and frontage
  • Height and view
  • Facilities
  • Tenure
  • Market trend
  • Others
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12
Q

What kind of location are there in retail properties?

A
  • Geographic location
  • Location within a location
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13
Q

What do they mean by Geographic

A
  • is the mall located in a primary shopping belt like orchard?
  • or a secondary shopping belt like Suntec City?
  • is it a CBD shopping area? or a suburban mall?
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14
Q

What does location within a location mean in retail properties?

A
  • The location of a shop unit within a shopping complex has an impact on its rental and price
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15
Q

What are the two most common and inter-related determinants of retail pricing?

A
  • Visibility
  • Traffic flow
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16
Q

What does visibility of a shop unit mean?

A

how easily shoppers can see the shop

17
Q

What does traffic flow of a shop unit mean?

A

intensity of shoppers passing through the specific shop

18
Q

What locations have a high traffic flow (and thus higher rental)

A
  • Ground floor
  • Facing main thoroughfare or the main concourse directly in front of the escalator
  • facing main entrance, main roads etc
19
Q

Special considerations in marketing of retail properties

A
  • anchor tenant
  • trade and tenant mix
  • size of development
  • population catchment area
  • vertical transportation
  • parking facilities
  • loading and unloading facilities
  • public transportation
  • toilets and other facilities
20
Q

What does an anchor tenant mean?

A
  • crowd pullers
  • not only attract shoppers but also tenants
  • usually given concessionary rentals cuz of the positive benefits they bring to the centres as a whole
  • usually in prime locations within the shopping complex
21
Q

Trade / Merchandise Mix

A
  • range of retail trades operating in the shopping centre
  • key is to have a balance of trades that both complement and reinforce each other, providing an interesting variety to attract shoppers
  • without creating too much damaging competition for the shops present
22
Q

how do you create a well-balanced trade mix?

A
  • one or two anchor tenants
  • maybe some mini-tenants but dont have also can
23
Q

What is tenant mix in a mall?

A

securing of the right retail names/brands for the various trades.

24
Q

Criteria in selecting the right tenants

A
  • fit into trade mix and tenant mix
  • complement mall theme, concept, and image
  • good reputation in market & draw for shoppers
  • financial stability, affordability of rental
  • new concept/flagship store
25
Q

Population Catchment Area in a mall/retail property?

A
  • depend heavily on shopper volumes that are, in turn, drawn from nearby population centres.
26
Q

Advertising and promotion in retail properties

A
  • through newspapers, magazines, comics
  • sales promotions
  • public relations
  • personal selling: service counters, mall ambassadors
  • events: magic shows, performances, grand openings

REM (11 decks)

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