During the life cycle of a shopping center, the underlying market dynamics are continually evolving.

Rates of population growth (or decline), demographic characteristics, economic forces, and competitive factors all influence the relative health of a retail shopping destination and the geographic reach of its trade area. These variables largely determine the tenant mix and define the target market for a shopping center. The strategic challenge is to remain aligned with the optimal target market and customer base.

Over time, changes in these variables tend to undermine the retail store or shopping center. Here are some of the services focused on revitalizing a retail property, shopping center, or other real estate development.

Marketing Research Services

A custom shopping center repositioning and renewal study might include some of the following marketing research services:

• Trade area definition survey
• Awareness, usage, image, and retailer preference surveys
• Focus groups, depth interviews, or ethnography
• Concept testing to evaluate strategy and positioning options
• Shop-along interviews to improve store operations, layout, displays
• Advertising testing
• Promotion testing
• Testing of remodeling concepts