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Mall Analytics – Why Real Estate Operators Should Also be Interested in Retail Analytics

Source: sensalytics GmbH

Most German shopping centers have one thing in common: No one knows exactly what is going on inside. Very few use mall analytics; instead, there are often outdated people counters at the entrances and exits, which often inaccurately register how many people enter a center. However, the use of smart technology such as mall analytics is essential to support and ensure the attractiveness and sustainability of shopping centers. It provides retail property operators - as well as center management and individual retailers - with detailed analytical data to help them optimize their centers and make them more attractive to potential customers.

Stop Questioning, Start Answering

How exactly do people behave in a mall and where do they spend most of their time? Which areas are popular and which are not? How many people visit multiple stores, and how many stay in just one? These and many other questions can be answered with GDPR-compliant analytics. It is also possible to compare the different levels of a shopping center and determine correlations between individual stores or verify the attractiveness of anchor stores.

Mall Analytics in Action: MÜNSTER ARKADEN

The MÜNSTER ARKADEN, a shopping center centrally located at the historic Prinzipalmarkt in Münster, is already successfully using Mall Analytics. They show that it is worthwhile to make all processes in the department stores transparent in order to have a data-based basis for optimization. With the 3D sensor technology from sensalytics, they determine the so-called "store per visitor" ratio, i.e. correlations between the various shops. They also classify visitors and calculate exact skimming rates. For operators, mall analytics provides a solid basis for strategic process optimization. In addition, the technology supports digital, dynamic and transparent communication between operators, center management and individual tenants, providing all parties with an accurate picture of the mall's performance.

Future Shopping Centers Require Modern Retail Analytics

The example of MÜNSTER ARKADEN shows: Mall Analytics is of great value for the future of shopping centers to ensure their viability. In particular, the new mixed-use strategy that shopping centers are pursuing in many places today makes it necessary to prioritize correlation analysis over pure people counting at the entrance. For example, the fact that more and more local suppliers are renting space in shopping centers inevitably increases the frequency of a shopping center, which is positive at first glance. However, this increased footfall does not necessarily contribute to the success of the center as a whole. It is essential for property owners and mall operators to obtain highly accurate analysis and valid data, as the situation in shopping centers is no longer so easy to measure due to the multiple use of local suppliers, entertainment, gastronomy and non-food retail.

Mall Analytics Answers the Most Fundamental Question

Mall analytics gives property owners, center managers and retail tenants a solution on a silver platter. Because it answers the question of all questions: What is going on in my mall? The high-precision analysis of areas using 3D sensor technology forms the basis for strategic and operational decisions - the collected data and its evaluation provide the necessary transparency for communication at eye level with all parties involved. After all, accurate data does not allow for speculation, but provides objective facts.

To ensure that all responsible parties have access to this data, sensalytics offers a platform, the dashboard, on which all information is presented in an easily understandable way and can be accessed at any time. In this way, everyone can use mall analytics to optimize, manage and control the shopping center - for the future viability of malls and city centers and, last but not least, for an improved customer experience.

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