Shopping centre consumers: more than just household income

Posted On Monday, 06 August 2012 19:51 Published by
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Village View shopping centre in Bedfordview has created distinct market advantages in a highly competitive retail arena, according to research by retail property optimisation consultancy Fernridge

 

This chic community centre continues to grow in popularity, with a track record of strong trading from its 40 hand-picked tenants, despite being in the shadow of retail giants Eastgate and Bedford Centre and in a node well served by retail.

Elsabe Griesel, portfolio manager for Village View owners The Cavaleros Group, believes the essential ingredient driving its success is knowing its customers and understanding how to meet their unique shopping and lifestyle needs.

To achieve this, Village View recently appointed Fernridge to discover what their patrons really want. The pleasing result is that most shoppers enjoy the centre exactly as it is, but want even more.

Fernridge’s research shows that half of Village View’s shoppers come from upper- and middle-income households. A quarter of its shoppers represent some of SA’s top earners.

“We are fortunate the people living in our primary catchment area are both well educated and well heeled,” says Griesel.

But Griesel points out that it takes more than household income to really understand consumers. “We know that our clients are real go-getters. Most are professionals or entrepreneurs, and between 30 and 60 years old. We can also tell from their favourite shop, Woolworths, and restaurant, Tashas, that our patrons prize the best quality, service, innovation and convenience.”

When it comes to convenience, Village View is one of only two centres in its primary catchment area hosting a national brand food anchor, and the only one with a Woolworths store. It central location and easy access, with generous parking, also contribute to shopping ease.

The centre also enjoys excellent support from its many surrounding business. It is a firm lunchtime favourite with Tashas, Nandos, Rodizio, Steers, Spur, Pigalle and its newest addition bakery Vovo Telo.

The success of its retail mix reflects in the remarkable loyalty of Village View’s customers. Over 91% of Village View’s shoppers visit this unique community convenience centre every week.

Soon Village View customers will have even more reason to shop and dine here.

Raising Village View’s relevance to its shoppers, The Cavaleros Group is giving stylish Village View shopping centre in Bedfordview a R20 million makeover. Over 1,500sqm of the centre is being refurbished, including reconfiguration of space of almost 600 sqm to help accommodate the demand for retail space at the centre.

The redevelopment will enhance this distinctly popular centre with greater retail variety.

Building on its exceptional dining, Village View is adding a further two new restaurants to its menu mix. The new design will create a vibrant zone for food-on-the-go. In June this year Steers and Nandos both reopened in their new locations in the centre. Other exciting changes also include moving CNA to a more suitable position next to Clicks.

“We will continue to seek new and innovative ways to boost the entire Village View experience and bring our stylish shoppers more of what they enjoy,” says Griesel.

Last modified on Monday, 06 August 2012 20:11

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