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Case Study
MULT3
Tenant Mix change: The Key Ingredient for Shopping Centers the
Case of BarraShopping
Greater efficiency per square meter
Multiplan once again showed a strong growth insales at its
shopping centers. BarraShopping,with almost thirty years in
operation, had growthin sales of 22.4% in the period. Besides
theorganic growth, Multiplan worked on a differentvariable in
BarraShopping to increase sales:further improving its mix of
stores.
An audacious strategy, considering thatBarraShopping already has
one of the highestsales per square meter in Brazil, with a
strongturnover of 7.6% in 2009, higher than the
turnover of 6.2% for the companys portfolio, BarraShopping
managed to increase its sales by22.7% in sales/m in the 1Q10 versus
1Q09. The description of one such mix change strategythat led to
this success follows below:
New mix for a new lifestyle
This mix change process was undertaken byMultiplan in an attempt
to align its tenant mixto new consumer lifestyles. Consumers
nowlook for more than just a place to goshopping: they demand
leisure, services,conveniences and other pleasures as part oftheir
Shopping Experience.
BarraShopping has worked hard to bring innew businesses to
better cater to the needsof customers. It has resorted among
otherstrategies to creating a Gourmet Boulevard,
meeting the needs of an ever growingnumber of customers from
neighboring areas.
The attraction force theory
The Gourmet Boulevard in BarraShopping had its tenant mix
completed in December 2009.This first quarter was the first time it
operated with all its stores leased and open to the public.The area
consists of eight businesses in 1,335 m, which includes some of the
most renownedrestaurants. This new area enhances the store mix in
the shopping center and brings morepeople traffic to the other food
courts giving the mall an even stronger appeal as a
DestinationMall.
Variation of sales volume at BarraShopping
(Last twelve months)
Quarterly evolution of occupancy rate atBarraShopping
9.3% 9.1% 9.5%10.2%
8.7%9.5%
10.8%
12.4%
16.3%
1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10
CAGR accumulated 12 months1Q08/1Q10 = +12.4%
97.5%97.3%
97.6%
98.9%
98.0%
99.0%
99.2%
99.5% 99.5%
8/4/2019 1Q10_BarraShoppingTenantMix
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Case Study
MULT3
Increase in sales/m in the shopping center and thefood area
(1Q10 vs 1Q09)
Increase in food sales (last twelve months)
at BarraShopping
R$ 73 M R$ 82 MR$ 101 M
R$ 8 MR$ 12 M
R$ 20 M
R$ 81 M
R$ 94 M
R$ 121 M
-
R$ 2 0 M
R$ 4 0 M
R$ 6 0 M
R$ 8 0 M
R$ 1 0 0 M
R$ 1 2 0 M
R$ 1 4 0 M
2Q07-1Q08 2Q08-1Q09 2Q09-1Q10
New Gourmet Area sales Food court sales without new area
+48.3%
18.2%22.7%
36.5% 35.0%
51.8
Multiplan BarraShopping AlimentaoTotal
Alimentaosem No vasOperaoes
rea Gou
