Getting the mix right
“It’s not just about the right mix of shops, but we have identified eight key attributes that you need to consider for successful retail place-making,” says Brown.
The eight attributes that Brown refers to are economic fundamentals, connectivity, environment, diversity and vitality, dynamism and pro-activity, identity, responsibility and culture and heritage. However, there’s no one size fits all approach or pre-defined combination of these – it comes down to a complex blend of place, space, management and marketing.
“When it comes to the context of a city centre high street or out-of-town mall, those attributes will differ,” he says. “But all the attributes contribute to the success of retail spaces. Urban retail has got the economic fundamentals and invariably city centres are well-connected, have diversity and vitality, as well as museums and galleries that add vibrancy.”
Brown points to central London for good examples of areas that are holistically managed, often so effectively that you may not even notice the hand of management upon them, citing The Crown Estate, Cadogan and Shaftesbury as just some that do the job well.
“Carnaby’s got a strong brand, as does Covent Garden, Regent Street and Marylebone High Street,” he says. “They’ve got strong identities, but they are also increasingly being marketed overseas as destinations. Sitting back and expecting your tenants to deliver over the long term is no longer good enough. Asset managers have to stay at the forefront of the changing retail sector.”
Some of this change has involved a surprising return to what may have seemed like an outmoded format, in the shape of the street market. But the revamped market has helped to drive footfall, with its homespun creative feel and surfeit of street food.
“The beauty of these more flexible concepts is that they can accommodate change and new concepts,” says Brown. “They offer the end user something different on a more frequent basis.”
The art of place-making
Such concepts feed into the much-vaunted art of place-making, which gives equal importance to what happens around shops and what happens inside them. Culture and heritage certainly play into that, but creating a pleasant environment that has a touch of edge, eccentricity or cool will also help attract the...
Read moreDMart operates as a retail chain with a focus on providing value-for-money products. Here's a general overview of how DMart operates:
Store Format: DMart typically operates in a hypermarket format, offering a wide range of products under one roof. The stores are designed to cater to the diverse needs of consumers, from groceries to household goods.
Product Range: DMart offers a variety of products, including groceries, fresh produce, toiletries, household items, apparel, and more. The emphasis is on providing quality products at affordable prices.
Sourcing and Supply Chain: DMart has an efficient supply chain and sourcing model. The company works directly with manufacturers and suppliers to reduce intermediary costs, helping maintain competitive pricing.
Cost Control: DMart is known for its stringent cost control measures. This includes efficient inventory management, low operational costs, and maintaining a lean organizational structure, all contributing to lower prices for customers.
Customer-Centric Approach: The company focuses on understanding and meeting the needs of its customers. This involves offering a pleasant shopping experience, ensuring product availability, and providing promotions and discounts.
Expansion Strategy: DMart has been expanding its presence strategically, opening stores in both urban and semi-urban areas. This helps them tap into a broader consumer base.
Private Label Products: DMart also offers private label products, which are products marketed under its own brand. This allows the company to have better control over pricing and quality.
Overall, DMart's success is attributed to its efficient business model, emphasis on cost control, and a...
Read moreDmart in Hyderabad stands out as a reliable and customer-friendly retail destination. Strategically located for accessibility, the store boasts a well-organized layout that facilitates easy navigation. The aisles are thoughtfully arranged, creating a seamless shopping experience for customers seeking a diverse range of products. From groceries to household items and electronics, Dmart in Hyderabad caters to a wide spectrum of consumer needs, making it a comprehensive and convenient one-stop-shop.
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In conclusion, Dmart in Hyderabad impresses with its well-organized setup, competitive pricing, and customer-centric approach, establishing itself as a trustworthy retail outlet for diverse shopping needs in the...
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