The halls are decked. The decorations are merry and bright. Children are lined up to see Santa Claus. Holiday cheer is in the air, as happy shoppers search for the perfect presents. Merchants are making money. The restaurants and cinemas are packed. It is arguably the most wonderful—and busy—time of the year for retailers to shine. The initial 2015 forecast on Wall Street is good: A boon for retailers. Industry analysts predict a healthy bottom line and a 3.7 percent growth in year over year sales.
After this past Black Friday whirlwind weekend, sales reports for brick-and-mortar stores were down slightly from last year, but the performance is still viewed as being strong in a holiday season where discounts spread well beyond the weekend and many shoppers have moved to the web. As brick-and-mortar retailers are driven to compete with online sellers, they have been pushing sales and promotions earlier and more frequently, which is changing the historical shopping patterns, especially on Black Friday. As online sales continue to grow over the holidays, this places more emphasis on General Managers and Shopping Centers to make the brick-and-mortar shopping experience a magical and delightful time of the year for all of their tenants and customers.
While the General Managers and their teams strive to make this festive buying experience look seamless and effortless, there are countless action steps that go into an expertly run and polished Shopping Center. The devil truly is in the details. Long before the holidays have arrived, the General Manager has budgeted and planned for the high traffic volumes and how to best support his or her tenants. Prior to the season’s kick off, the General Manager meets with all staff and tenants to create a carefully orchestrated plan. Above all, the Shopping Center needs to be properly maintained for the anticipated crowds, which translates into the need for increased janitorial, security, parking, and operations. This collaborative effort is finely tuned and the countdown calendar begins.
At Madison Marquette, the General Managers are viewed as “mayors” for their properties, who partner with the merchants to understand their business models and what contributes to their success. This is not a cookie cutter directive from Corporate; the General Managers know their communities and their stores, and the regional nuances. The hustle and bustle of the holidays is an important opportunity for managers to enhance relationships with their tenants and to grow their partnerships. Key to Madison Marquette’s holiday strategy is the Manager on Duty (MOD) program. A MOD is scheduled to be onsite at all times, especially during the extended peak hours on Thanksgiving, Black Friday, and Christmas Eve, to support the tenants, monitor sales, and troubleshoot any issues that may arise. The MOD is the boots on the ground expert who ensures a flawless execution. The number one goal is to take care of the tenants and provide them with valuable support.
Communication is a critical element to a thriving and profitable season. The General Manager develops weekly updates for the owners that document the Shopping Center’s performance. These extensive reports include summaries of every tenant’s experience, along with photographs to show activity, events, promotions, and traffic. Indicators of high traffic are detailed, such as full parking structures and long lines to get into the stores and restaurants, or even tents pitched outside for the truly committed shopper. This communication is vital to ownership and it can be rolled up into a portfolio summary that can draw conclusions on sales, traffic, trends, and media successes. This portfolio summary turns into a nationwide dashboard that helps ownership continue to be in-the-know and to help fine tune their leasing, management, and marketing strategies.
Weekly meetings, emails, and publications, such as the Bay Street Bulletin, keep retailers up to date on news and events around town, and include helpful tips, such as how to identify shoplifters and safety reminders. Every merchant knows what’s happening at this busy time and has resources to utilize at his or her fingertips. If a promotion was successful and it can be replicated, it is included so others can adopt a similar approach.
The General Managers are committed to their tenants and take the extra step in marketing the holidays. These “mayors” treat everyone as a partner and tailor data to each merchant. This customized strategy, coupled with a proactive style of management, ensures a wonderful and successful season for all of their tenants and their customers. The end result? A win-win for all partners, and ultimately, happy and profitable owners who share in the tenants’ success.
Toolkit for a Successful Holiday Season, Make a List and Check it Twice
Plan – Start planning in the summer, at least 6 months before the holiday Develop a countdown calendar to stay on track during this busy season. Anticipate increased traffic volumes and schedule appropriate janitorial and security needs to ensure that your Shopping Center is properly staffed, safe, secure, and clean.
Prepare – Be ready for the unexpected and any problems that may arise and distribute an Emergency Handbook to all staff and
Decorate – Create a magical winter wonderland, from Santa and his elves to a snow show to a beautifully lit Christmas Embrace the season with music, entertainment, and merriment. Create a memorable experience for your guests and draw them in with your holiday events.
Manage – Be an ambassador for your Shopping Center. Identify how Property Managers and Managers on Duty (MODs) will maintain a positive image for the Center and create a festive buying experience for all
Collaborate – Work with all staff, tenants, and owners to develop buy in for a finely tuned operating Meet regularly with all partners for a seamless holiday execution.
Communicate – Regularly share information via email, meetings, publications, and reports to tenants and owners so that they are up to date on trends, sales, and Develop detailed weekly reports on tenant performance to share with owners. Use the holiday hustle and bustle as an opportunity to grow and cement your relationships with tenants.
Be proactive – Constantly reassess what works and what doesn’t. Give consistent, customized feedback to tenants and owner Remember, it’s all in the details!
Celebrate – Share success stories and highlight what makes this season profitable for tenants and owners. Showcase positive outcomes and how to replicate them.
