How do you assess the potential of the network of Vegas shopping centers? Has their development reached any point from which it is possible to evaluate what has been done — and to plan further development, a kind of plateau?
From the geography point of view, two directions of the Moscow region are not covered — the south-west and east. We are planning to select sites for the construction of new shopping centers, carefully studying the proposals. Within a few years, we intend to make significant progress — though, not at any price.
On the one hand, the closest .
coverage of the shopping center (primary and secondary zones) should be from 700,000 people; it is necessary to take into account the level of competition and activity of the population, their employment, potential average check and other significant factors. This principle is dictated by the format of Vegas, we will not retreat from it.
Are you considering projects in the regions?
Hypothetically — yes. We already had some experience, when we considered, for example, Rostov-on-Don, Novosibirsk, Yekaterinburg, Khabarovsk, the matter did not come to realization at that time. We are considering some projects of the group of companies in St. Petersburg, Sochi, Vladivostok (now we are discussing project concepts), the company’s retail formats are open to proposals.
Although all Vegas they are made in a single ideology, there is certain conceptual differences between them. What is the reason? The different audience?
All objects are united by a common philosophy, common architecture, atmosphere. However, they differ in the proposal, as the target consumer is different. But even the portrait of the target client changes over time. For example, Vegas Kashirskoe. It will soon be ten years since the opening of this mall — although it’s hard to believe, it seems that it was only yesterday. During this time, the south of Moscow and the region has undergone quite serious changes, due to migration from neighboring regions, and housing is being actively built. The audience has changed quite noticeably, this is shown by our own research and tenant reviews.
How exactly?
The audience has matured a bit. The share of families has increased, young families with mortgages have appeared. The incomes of those who previously represented the middle age group increased. And at the same time customer loyalty is increasing too. More than 70% of customers make purchases here three times a month, which is a very good indicator. Thus, we know our client and we know what he needs. If he matured and became rich — we should give him more solidity. If he has financial difficulties, we must diversify discount programs, and so on.
Do other audience indicators change? For example, the same buyers with a mortgage — if they spend more time at work, is it enough for shopping?
trangely enough, the time spent in the shopping center has increased at all our facilities, and significantly enough, by 20 percent. I think this is due to the fact that people spend more time in cafes and restaurants. Now for middle class people, shopping often ends with a visit to a cafe.
Among other indicators — the average check has become more rational, impulsive acquisitions are clearly less. Most purchases are done seasonally. Although this is most likely the general situation in the market of shopping centers.
Let’s clarify: who do you mean by middle class?
These are people, over 27 years old, employed, mostly married, with a constant need for shopping, with an average income of 100,000 rubles per person.
66 | SHOPPING CENTERS RUSSIA | FEBRUARY 2019