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Creating a Marketing Plan for a Shopping Centre | Commercial Real Estate Training
Every shopping centre needs a good marketing plan. The plan is something that encourages community interest, customers, and sales for tenants. Unfortunately, many smaller shopping centres and those that are privately owned can tend to be less active when it comes to local area marketing and promotional spending. Over time that can reduce the profile and relevance of the property in the local area, and retail sales or market position can decline. Let's face it, the shopping centre industry and retail properties all compete for customer attraction in one way or another. If there are many retail properties in your town or city, then competition between properties will be an issue. Ensure that your retail property is competitive, attractive, and offering a vibrant tenant mix. Retail marketing costs money, but it does form an essential part of shopping centre success. Retail Facts to Know Consider these facts: Retail rents are underpinned by sales and custome