Knight Frank Retail - Tiger Talk June 2011
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Transcript of Knight Frank Retail - Tiger Talk June 2011
16th June 2011
Shopping Mall –
Golden Rules In Design
Presented by
Knight Frank Vietnam
Viet Nam
Outline
I. Changing of Vietnamese shopping habits
II. Hanoi retail market update
III. Moving to Shopping Centres-Local retailers’ positive trend in Hanoi
IV. Proactive movement towards modern retail formats
V. Golden rules for a successful shopping centre
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3
I. Changing of Vietnamese shopping habits - Hanoi
Hanoi:•Population: 6.5 million people•20-24 age group= 25% population•9% of total Vietnam GDP
Vietnamese retailing industry needs “big guys”(Vietnam Business & Economy News, 6th of June 2011)
“Investors will keep injecting money in retail”(Vietnam News, 24th of January 2011)
0
200000
400000
600000
800000
1000000
1200000
1400000
Vietnam Consumer Spending 1995-2009
Hanoi- Consumer Spending in Billion VND
Vietnam Consumer Spending in Billion VND
Source: Ministry of Trade
• Hanoians have a collective mindset
• The role of advertising is critical in Hanoi
• Price promotions is the most appeal to Hanoians
• Tougher economy impacted does not affected Hanoians’ consumption habits
4
I. Changing of Vietnamese shopping habits - Hanoi
5
II. Hanoi Retail Market update
•Total Retail Space is 456,000 sqm
•Average Occupancy: 93%
•Shopping Centre in CBD achieve 100% occupancy
Rental Rate by Retail Projects
Source: Knight Frank Market Research
In U
SD
Max rate
Min rate
•Highest rates achieved in CBD is $185/sqm/month
•Retail sales is expected to increase by 23% compare to 2010
•Rental rate is more stable in Hanoi compare to HCMCShopping Centre Department Store Hypermarket
*Survey includes Department Stores & Shopping Centres
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II. Hanoi Retail Market update
• Trend of retail lease space turn to long term investment.
Mo Market Commercial Center: 25,000 sqm
Hang Da Galleria: 7,000 sqm
Keangnam Retail Podium: 10,000 sqm
• Incredible promotion campaigns on rental price to attract new tenants move to non-CBD area
Shopping Centre/
Department store/
Hypermarket 47%
Electronic mart 18%
Wholesales 13%
Retail podium
4%
Supermarket18%
Retail market share by square metre QII 2011
Source: Knight Frank Market Research
77
2011
PICO Mall
Vincom Village
Keangnam
IPH
Icon 4
Habico
Significant New Supply 2011-2013
SAVICO Plaza
2012 2013
II. Hanoi Retail Market update
Source: Knight Frank Market Research
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III. Moving to Shopping Centres – Local Retailers’ Positive Trend in Hanoi
Percentage figures are based on retail brands surveyed in the following retail objects in Hanoi:
Parkson Viet Tower, Vincom City Towers/ Galleries, The Garden Mall, Fodacon Building, Grand Plaza
Domestic International
77%
23%
Domestic vs. International Brands
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jewelry Cosmetics Textile Shoes & Handbags
International
Domestic
Domestic vs. International Brands in
selected segments
Customers
✓Security & Cleanliness
✓ Air conditioning
✓ Parking opportunity
✓ Common opening times
✓Occasional& seasonal events
✓ Entertaining features (cinema, food court,
etc.)
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IV. Proactive Movement Towards Modern Retail Formats
Retailers
✓ SC increases length of customers stay
✓ SC increases higher turnover
✓ Retailers benefit of tenant mixture
✓Retailers benefit from SC marketing
✓ SC targets all types of consumers
✓ Architectural attractive location
✓ SC is recognised as one shopping
destination
Shopping Centres create advantages for…
…to provide comfort & suitability which reflect the consumers modern lifestyle
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Location Anchor Tenant Feasibility Study
Tenant Mixture
Centre attainabilityCentre Design
Centre Management
Effortless Business
Qualified and experienced management posses knowledge which contributes to the centre’s success
Study must include socio-economic, financial, marketing and physical targets
The greater the tenant’s market share, the more positive the tenant’s influence on the centre’s image
Although a great location may not guarantee success, a bad location will almost always guarantee failure
Ratio of domestic & international brands must match consumers preferences in terms of products, quality and price
As consumers’ time becomes more valuable, SC should provide easy navigation for shoppers inside the centre
Centre’s atmosphere must invite visitors to spend a maximum of time
SC must provide a convenient access for shoppers – adequate transportation links, parking and opening times
V. Golden Rules For a Successful Shopping Centre
Factors that decide over
Shopping Center’s level
of success
1111
Thank you for your attention
Present by Mr John Gallander
Country Managing Director
Special Thanks to Mr. Gregor Tatsios
Viet Nam – Track Record
THE GARDEN SHOPPING CENTER, HN
Total Area: 57,000 sqm
Developer: Bitexco Land
Type: Shopping centre
Service provide:
Exclusive marketing agent
KHAI THONG PLAZA, D1, HCMC
Total Area: 53,641 sqm
Developer: Phuong Trang Investment Corporation
Type: Shopping centre
Service provide:
Market research & consultancy
Viet Nam – Track Record
THE FLEMINGTON TOWER, D.11, HCMC
Total Area: 7,000 sqm
Developer: Bao Gia Joint Stock Company
Type: Shopping centre
Service provide:
Consultancy & leasing agent
THIEN SON PLAZA, D7, HCMC
Total Area: 15,000 sqm
Developer: Thien Son Co.,
Type: Shopping centre
Service provide:
Consultancy & leasing agent
Singapore -Track Record
ORCHARD CENTRAL
Total Area: 38,000 m2
Developer: Far East Organization
Type: Shopping centre
Service provide:
Consultancy & leasing agent
ILUMA
Total Area: 28,000 m2
Developer: Jack Investment
Type: Shopping centre
Service provide:
Consultancy & leasing agent
AMK HUB
Total Area: 50,000 sqm
Developer: Singapore Labour Foundation , NTUC Income & Fair Price
Type: Shopping centre
Service provide:
Management
SUNTEC CITY MALL
Total Area: 100,000 sqm
Developer: Suntec REIT
Type: Shopping centre
Service provide:
Consultancy & leasing agent
Singapore -Track Record
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Find us
• Knight Frank Vietnam – Hanoi Office
• 5th floor – 40 Phan Boi Chau Street
• Hoan Kiem District, Hanoi
• Tel: (844) 3 9411 638
• Fax: (844) 3 9411 639
• Knight Frank Vietnam – Ho Chi Minh Office
• Suite A, 7th floor VTP Office Building
• 8 Nguyen Hue Blvd
• District 1, Ho Chi Minh City
• Tel: (848) 3 8226 777
• Fax: (848) 3 8277 856
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