Purpose
IRIS Spaceintel is a market and site analysis process that addresses:
. Developers - Retail potential for a site / zone in a city ?
. Retailers - Which shopping centre to choose ?
. Retailers / developers - Analysis of current footfalls ?
For Developers
IRIS SpaceIntel in a benchmarked framework which measures the retail potential of a site /
locations and identifies the important drivers keeping a 3-4 year horizon in perspective.
The process takes input from four key research techniques to address the overall study
objectives - Expert opinion research, Desk research, Quantitative face-to-face interviews and
Qualitative Focus Group Discussions
Framework
Key recommendations would include:
• Positioning / Value proposition in terms of luxury, premium, midmarket and value oriented
• Inputs into Tenancy Mix / Product mix
• Fair share of footfalls, Likely traffic potential to the location
• SWOT, site and competitors Perceived positives (triggers) and negatives (barriers)
• Inputs into communication strategy
Other Deliverables:
• Also basis the existing database available with IRIS we would be able to suggest a size and type
of floor space
• Shopping centres, Hi-streets, key commercial areas marked on a map
. Most consumers choose outlets
that are conveniently near,
around a 4-6 km radius; a
greater distance negatively
impacts the frequency of visits
. Competition around a store
actually increased footfalls to the
store because the store offerings
became more attractive
. A group could close certain
stores without significantly
reducing overall turnover
. 90% of the footfalls in Shopping
centres in India comes from SEC
AB
. Just as a brand would drive
awareness shopping centres
can drive familiarity using
techniques such as morning
walk paths, ATM's and play area
for kids.
