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1 – 10 of 973Yishuang Xu, Chung Yim Yiu and Ka Shing Cheung
Achieving a balanced tenant mix is a long-standing discourse in the retailing and consumer marketing literature. From the perspective of marketing mix planning, the diversity of…
Abstract
Purpose
Achieving a balanced tenant mix is a long-standing discourse in the retailing and consumer marketing literature. From the perspective of marketing mix planning, the diversity of tenants is beneficial to the performance of shopping malls. This paper aims to use a revealed preference approach to study empirically the effect of retail tenant mix planning on the rents of shopping malls.
Design/methodology/approach
This study adopts a cross-disciplinary approach to develop the Island-Species-Area-Energy model to study the shopping mall marketing and management framework. The empirical data are obtained from the 129 major shopping malls in the UK.
Findings
The results confirm that the retail tenant mix is positively associated with mall size and shopping district purchasing power, implying a tenant mix equilibrium. Any deviations from the tenant mix equilibrium will impose a negative impact on total retail rents. Further, five factors, i.e. tenant mix equilibrium, building quality, locational convenience, leasing strategy and anchorage, are found to be contributing factors to retail rents.
Originality/value
The findings contribute to the current body of marketing knowledge from two perspectives: first, tenant mix effects on retail rents are empirically analysed based on the biogeography theory, which shows a tenant mix equilibrium for retail marketing planning. Second, a five-factor model on shopping mall marketing and management mix framework is developed and tested for the performance of shopping malls.
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Mduduzi Nsibande and Douw Gert Brand Boshoff
The South African listed property market has changed its legal basis from property loan stock companies and property unit trusts to adopt the more familiar international…
Abstract
Purpose
The South African listed property market has changed its legal basis from property loan stock companies and property unit trusts to adopt the more familiar international structure, real estate investment trusts. The main distinction is how shareholding is structured and investment returns are paid out to shareholders, which results in a different tax treatment. It is hoped that this change would attract more foreign investment, but it is questionable if this is sufficient to convince global investors who, amidst a seeming worsening of the stability in the political and economic environment, would probably need more insight into aspects such as investment decision making within these South African organisations. The paper aims to discuss these issues.
Design/methodology/approach
Using a balanced scorecard (BSC) framework, this study investigates the relevance of investment decision-making frameworks in South Africa. A survey using a sample of institutional investors that are included in the South African Property Market Index was conducted.
Findings
The study found similarities in decision-making priorities of South African institutional investors to those of previous studies. With the focus on retail property, tenant mix and secondary to that, quality of the centre management team is found to be important for forecasting expected returns in a retail investment decision environment. Diversification strategies were found to have similar results to previous studies, leaning more towards geographic location than economic location. Further, the study suggested the use of a BSC framework, linking the financial information and different financial ratios to nonfinancial aspects that need specific consideration in a retail investment environment.
Research limitations/implications
Retail property is considered to be of particular concern due to the business enterprise value that could be created if superior management techniques are applied. The investment decision stage concerned with forecasting expected returns relies on financial and quantitative models such as those derived from Modern Portfolio Theory. In a shopping mall environment, however, future performance is driven by nonfinancial factors, for example, tenant mix and superior customer experience. Therefore, forecasting expected returns in a retail environment requires a nuanced approach relative to other commercial property sectors.
Originality/value
The paper is considered to be original in its analysis of the retail real estate market in South Africa. This offers new insight into retail properties specifically, but also how investors in South Africa react to decision-making practices. This adds value in the internationalisation of the property market and the consistency and transparent practices applied globally.
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Renata Maria de Almeida Bastos Gomes, Fabio de Oliveira Paula and T. Diana L. van Aduard de Macedo-Soares
The shopping center (SC) industry in emerging countries has grown fast over the past decade; however, recently, it is showing signs of slowing down. Nevertheless, some…
Abstract
Purpose
The shopping center (SC) industry in emerging countries has grown fast over the past decade; however, recently, it is showing signs of slowing down. Nevertheless, some SC-companies perform well. As those firms operate in alliance networks, relational opportunities and risks should be considered in their strategic analyses. Although there is a significant amount of research on SC from a marketing perspective, there is a dearth of research on strategic alliances from an SC management perspective. This paper aims at answering the following question: How do characteristics of the alliance networks of leading SC-companies contribute to their success by mitigating the structural threats the SC-industry in Brazil is facing?
Design
The case study method was adopted for analyzing two leading Brazilian SC-companies. Several data sources were used to allow for data triangulation. The lack of literature on strategic alliances and the SC-industry, as well as the research’s exploratory nature, justified this choice.
Findings
The research made evident that the SC-companies’ alliance network characteristics not only mitigate some of the structural industry threats but also enhance opportunities. It illustrated how firms can conduct a strategic analysis from a network perspective with the right tools. It also made evident how much more accurate the results of a comprehensive relational analysis are compared with traditional analyses that do not consider the strategic implications of relational factors.
Practical implications
The research contributed to SC management by highlighting the importance of taking into account the network characteristics of their relationships with key partners and of considering these as alliances and not merely contractual arrangements.
Originality/value
There is a dearth of research on the strategic implications of alliances of firms that own and manage a portfolio of SCs, as well as of their relationships with other actors in the industry, such as retailers and real estate owners, from a network perspective.
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Ehsan Aghakarimi, Hamed Karimi, Amir Aghsami and Fariborz Jolai
Considering the direct impact of retailers' performance on the economy, this paper aimed to propose a comprehensive framework to evaluate the performance of different branches of…
Abstract
Purpose
Considering the direct impact of retailers' performance on the economy, this paper aimed to propose a comprehensive framework to evaluate the performance of different branches of a retailer.
Design/methodology/approach
Through a case study, the weights of indicators were calculated by the best-worst method (BWM) and the branches' performance was appraised using data envelopment analysis (DEA).
Findings
The branches were ranked in terms of performance, and sensitivity analysis and statistical tests were conducted to realize the weaknesses and strengths of the branches. Then, some strategies were proposed using strengths, weaknesses, opportunities and threats (SWOT) analysis to improve the performance of the weak branches.
Originality/value
This paper contributes to previous studies on the evaluation of retailers' performance by proposing a triple framework based on resilience, sustainability and sales-marketing indicators. This paper focused on branches' operations and branches' optimization by improving performance in terms of these three indicators. This paper also offers a qualitative and quantitative analysis of retailers' performance, which has received less attention in previous studies.
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Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management…
Abstract
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management…
Abstract
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.