20 12 preparation for property managers: principles of retail business economy

20 12 preparation for property managers: principles of retail business economy

I. Site Selection and Planning

In the site selection and planning of retail commercial property, market capacity, access traffic, obvious location, scale of retail commercial property, internal facilities and other factors should be considered.

(1) market capacity

When choosing a shopping center, we should choose a place with sufficient market potential. It should be located in a region with a large population and strong purchasing power. Judging from the development history of shopping center layout in developed countries, it has generally gone through the following stages: in the early stage of urban construction, it was mainly concentrated in the city center; With the development of urban construction and the expansion of urban area, regional shopping centers have been built; Next, due to the problems of poor traffic and high land price brought by urbanization, shopping centers located in suburban traffic arteries have been built one after another; Finally, the urban population diverted to suburban satellite towns, resulting in the so-called "urban hollowing out" phenomenon, and the construction of new community-based commercial centers came from behind.

On the issue of shopping center location, the model of the United States is different from that of Hong Kong and Singapore. In the United States, after World War II, the federal government built a dense highway system connecting the States, which greatly reduced the transportation cost from the urban area to the suburbs and outer suburbs. Coupled with the popularity of cars in families and the suburbanization process of residents, shopping malls are generally built next to suburban roads, with a large scale. The number of private cars in Hong Kong and Singapore is much lower than that in the United States, but both of them have developed subway and bus systems, so most shopping centers in Hong Kong and Singapore are concentrated in the downtown business district near the subway station, which is slightly smaller than that in the United States. The location of shopping centers in China depends on the specific situation.

(2) Input and output flow

Convenient transportation and parking are also important factors that affect the successful operation of shopping centers. Generally, shopping centers will be selected at the intersection or roadside of main roads, especially near bus stops, so as to ensure a large number of passengers. At the same time, the shopping center should also have a parking lot with enough area to facilitate the parking of consumers who come to shop by car. If the parking lot is not big enough, customers will be reluctant to drive and shop, and the surrounding area of the shopping mall will become excessively congested. Shopping centers should also be designed to facilitate consumers' access. For example, the main entrance should be conspicuous, there should be multiple entrances and exits, and the road signs in the center should be prominent.

(3) the position is significant

The obvious location means that the location, architectural style and unique signs of the shopping center should easily attract the attention of passers-by and attract them to the center. So architectural design and facade decoration should be novel and unique, and signboards and billboards should be eye-catching. According to the investigation and study, the convenience of transportation and the uniqueness of retail commercial property are the primary considerations for retail store owners when choosing retail commercial property to live in.

(4) scale

The scale of retail commercial property is also an important factor affecting its attractiveness. The research shows that the larger the scale of retail commercial real estate, the stronger the mutual promotion ability between its internal retail stores.

(E) Internal facilities factors

Retail commercial properties should have high-quality internal facilities and very comfortable indoor environment, so as to extend the stay time of consumers. For example, advanced air conditioning system, adequate lighting and wide roads. Two. Operation and operation

The related theories of retail commercial real estate operation mainly focus on three areas: central place theory, similar retailer aggregation theory and demand external effect theory.

(A) the Central Place Theory (central place theory)

The central place theory was first put forward by American scholar Christopher in 1930s. At first, this theory mainly analyzed the single-purpose shopping behavior of consumers, and found that if consumers only buy one kind of goods, they usually go to the nearest store to shop. This conclusion is more in line with the situation of purchasing daily commodities and standardized commodities. The quality of these goods is usually not very different, so it is not necessary to go to other stores farther away, otherwise the higher transportation cost and time cost will offset the benefits brought by the low price.

However, consumers also want to pursue utility in shopping activities, so they usually buy a variety of different goods in one shopping, which can save shopping costs (including transportation costs and time costs, etc. ) In order to meet the demand of consumers for multifunctional shopping ("one-stop" shopping), retail stores selling different commodities often gather together to form a commercial district. In the case of business circle, consumers usually give up shopping in the nearest store and come to this business circle. This is why many different types of retail stores should introduce retail commercial properties.

(B) the theory of similar retail stores (homogeneous retailers gathering)

Although the central place theory can well explain why different kinds of retail stores gather together, it cannot explain why many retail stores sell the same or similar goods (such as women's clothes, shoes, jewelry, etc.). ) While retailing commercial real estate. Similar to the retail store theory, this issue is specifically discussed.

More than 70 years ago, hotelling, an American scholar, put forward a similar theory of retailer aggregation. Before him, many scholars believed that if the retail stores selling the same kind of goods were gathered together, once one of them lowered the price slightly, it would gain a monopoly position in the market, thus destroying the market balance, so they were considered impossible to gather together stably. However, hotelling believes that as long as there is a small difference between the goods sold or the services provided (this is the so-called "minimum differentiation" concept), the whole market cannot be monopolized by lowering the price, so retail stores selling the same kind of goods can remain stable. This is because consumers not only consider the price, but also pay attention to non-price factors such as quality, characteristics, brand and sales methods. They often go shopping in stores that are more in line with their own tastes. So it is possible for similar retail stores to gather together.

From another perspective-comparing shopping, similar retail stores can reduce the uncertainty of consumers' shopping, so they will be welcomed by consumers. If there is only one store in a retail commercial property that sells certain goods, consumers may not be able to buy goods that meet their wishes in this store, which increases the uncertainty of consumers in the shopping process. However, if there are many retail stores selling this kind of goods in the retail commercial property, and there are some differences, consumers can make a full comparison with these stores before buying, and then choose the one that suits their taste best after comparing the goods. Reducing the uncertainty in shopping is equivalent to reducing the cost of shopping, increasing the utility of consumers and attracting more consumers. So it is good for similar retail stores to get together. In the investigation of five retail commercial properties in Madison, Wisconsin, American scholars found that there was an obvious positive correlation between the number of similar retail stores and the sales of retail commercial properties.

A well-planned retail commercial property should have a combination of retail stores, so as to achieve the aggregation effect (including the aggregation of different retail stores and the aggregation of similar retail stores). Retail commercial properties managed by operators can easily achieve this goal by restricting or encouraging the entry of certain stores. It is found that retail commercial properties usually limit the number of retail stores selling lower-grade goods to one, because it is difficult to produce differences between such retail stores, so if a large number of them are introduced, there will be active price competition. For high-end goods, retail commercial properties usually introduce more shops, increasing the opportunities for consumers to compare shopping.

(C) the theory of demand externalities (retail demand externalities)

The external effect of demand is the research hotspot of retail commercial real estate theory at present. It refers to the phenomenon that consumers are attracted to the retail commercial property by well-known and reputable anchor stores, but at the same time patronize other retail stores. The head office has produced the external effect of demand, which brings passenger flow to the small retail stores around, and ordinary retail stores can get the benefits brought by this external effect.

Different from the aggregate benefit of mutual promotion of sales, the external effect flow of demand is one-way, that is, from the head office to the ordinary store, not the other way around. The image of the head office is very important in attracting customers, including its brand, reputation, grade and service quality. Coupled with the combination of retail stores, it constitutes the image of the entire retail commercial property. The main stores are often large supermarket chains or well-known department stores, which can attract consumers who are far away and should have gone shopping in other business districts.

The empirical study on the image of the head office and the combination of retail stores shows that the head office is an important factor to attract consumers to shop, and even the primary reason why families choose to go to this retail commercial property; The combination of retail stores is very important for the overall attraction of retail commercial properties. Some experts also found that due to the external effects produced by the main stores, the sales of ordinary stores increased by 35 ~ 123 USD per square foot. It is precisely because the head office plays a great role in enhancing the image of retail commercial property that it can usually get a high rent discount. This kind of price discrimination is an important feature of retail commercial real estate.

(D) Some applications of the above theories

The application of the above theory in retail commercial property management has formed many highly operational strategies. Here are some examples.

1. The tenant portfolio should be diversified.

The diversification of tenant portfolio is to achieve "aggregation benefit" to a certain extent. Specialty stores selling similar or complementary goods gather together, and consumers can buy a variety of goods in one shopping activity, thus greatly reducing consumers' shopping time and cost. Therefore, we should pay attention to the introduction of various types of specialty stores, from cosmetics, women's wear, men's wear and household appliances to various theme restaurants, supermarkets, fast food restaurants, electrical appliances and other leisure and entertainment facilities, integrating shopping, leisure and entertainment to meet the various needs of consumers for clothing, food, housing, transportation and entertainment.

2. Introduce the main stores to bring a large number of passengers.

Consumers often judge the image of the whole retail commercial property through the main stores, so inviting some main stores to stay will greatly enhance the image of retail commercial property, which is beneficial to the ordinary stores in the center and has positive external effects. The main stores are usually large department stores or supermarket chains.

3. The spatial arrangement has achieved the effect of mutual promotion.

Retail commercial property operators have gradually formed some practical spatial layout principles in their years of business practice. For example, in retail commercial properties, the main stores are arranged at both ends of the main channel, and some small specialty stores are arranged on both sides of the channel connecting famous stores. Consumers who want to shop in these main stores have to cross this passage, which can bring sufficient passenger flow to the small shops on the side; Try to avoid "dead corners" because it is not conducive to the free flow of passengers; Place service shops (such as banks, restaurants, travel agencies, etc.) ) try to be close to the entrance and exit; Dry cleaners and pet shops should be as far away from restaurants and fast food restaurants as possible; Make good use of some vacant positions near the corner of stairs and atrium, rent them to temporary stalls, sign a trial lease agreement with them, and transfer them to regular shops if business is good.