Advertise with fastmoving.co.za
 
 

Baywest Mall performance indicates strong consumer appetite for larger shopping centres.
Baywest Mall performance indicates strong consumer appetite for larger shopping centres.

Flagship Rebosis mall celebrates robust growth

RETAILER NEWS

Issued by Good News Lab on behalf of Baywest Mall - May 18th, 15:50

Baywest Mall performance indicates strong consumer appetite for larger shopping centres.  

Baywest Mall performance indicates strong consumer appetite for larger shopping centres.

As the Eastern Cape’s largest shopping and entertainment centre, Baywest Mall, marks its second birthday this month (May 21), its performance for owners Rebosis Property Fund suggests consumer appetites for super-regional malls are far from waning.

According to Rebosis Property Fund group marketing manager Deborah Bailey, the flagship mall for South Africa’s largest black-owned, listed property fund is living up to its tagline, “the pulse of the Bay”.

Growth indicators for the mall include:
• Consistent foot traffic year-on-year (seven million visitors in 2016)
• Total sales growth year-on-year over a comparable period of 16.0%
• Mall trading density (sales per m²) growth of 14.3% year-on-year over a comparable period, and
• Spend per head growth of 21% year-on-year over a comparable period

“Our data shows Baywest has been embraced by the region, with almost seven million visitors through our doors in 2016,” said Bailey, adding that the super-regional mall attracted not only residents of Nelson Mandela Bay (Port Elizabeth, Uitenhage, and Despatch), but also brought out-of-towners into the city from as far afield as Plettenberg Bay and Grahamstown.

“These out-of-town shoppers would previously have visited the city intermittently, but now the mall provides a unique shopping and entertainment destination to warrant them travelling more frequently. Furthermore, once these visitors arrive in the Bay, they don’t just stop in at the mall but also conduct business elsewhere in the city, meaning that other businesses benefit from our presence,” said Bailey.

“On the whole, with a 91% occupancy rate by gross leasable area (GLA) – up from the 85% when we opened in 2015 – Baywest Mall is in a healthy state given the fact that it is just two years old and part of a larger precinct which is still in its developmental stage, and especially given the challenging macro-economic environment.”

During its two-year construction phase, the 90,000m² mall created employment for over 5,000 mostly local construction industry workers. Since opening on May 21, 2015, a further 2,000 permanent jobs have been created to staff the mall’s 250 outlets.

“Baywest creates direct employment for up to 2,000 Bay residents. This excludes the downstream economic benefits which the mall provides for the many service providers working with our tenants,” said Bailey.

Baywest Mall general manager Troy Zunckel said the shopping centre had brought a variety of exciting new brands to the Nelson Mandela Bay region, covering entertainment, dining, and retail.

“Such a shopping and entertainment experience was previously only accessible to Bay residents when they travelled to cities like Johannesburg, Durban, and Cape Town.”

Speaking to the filling of the mall’s vacant stands, he said: “We have strategic vacancies to let and we are constantly in discussions with key brands around those vacancies. It is important that we create the right tenant mix of local, regional and national brands which complement all our stores. If we relax our standards and fill our available space with tenants that do not fit our strategic mix, it would harm our existing tenants rather than complementing them.”

With regard to the coexistence of the mall in relation to other centres in the region, Zunckel said: “We believe Baywest is fulfilling its role as a super-regional mall by supplementing – not cannibalising – trade at smaller shopping centres.”

Baywest had brought “fantastic new brands to the region, and created major employment opportunities”, he added.

“It has created a one-stop destination for leisure activities that were previously unavailable to local residents – such as an Olympic-size ice rink and the region’s only Ster-Kinekor IMAX and Cine Prestige movie theatres.”



 

Read more about: retailer | retail | rebosis | baywest mall

Related News

Digital signage video walls enhance adidas' brand experience at new flagship store
14/12/2017 - 09:00
Moving Tactics, South Africa’s leading digital signage solutions company, recently worked with adidas to install two video walls at their new flagship store in Sandton City Shopping Centre in South Africa.

L’Oreal releases its first fully plant-based hair dye
13/12/2017 - 14:19
L’Oreal, founded more than a century ago by a French chemist who formulated safer, more natural-looking hair dyes, is releasing its first fully plant-based colouring as consumers’ definitions of naturalness and product safety evolve.

UK retailers to reap rewards of christmas cross-border sales
13/12/2017 - 11:22
Cross-border trade is forecast to increase by 57 percent in the UK this festive period, indicating that more overseas shoppers are turning to British retailers than ever before for their Christmas shopping.

Dis-Chem raises R1.1bn but sentiment sours on news of executive sales
13/12/2017 - 10:29
Pharmacy group Dis-Chem has raised R1.1bn to fund its expansion, but the news failed to impress shareholders.

Shoprite urges consumers to #ActForChange this festive season
12/12/2017 - 15:15
South Africans are invited to take hands with the Shoprite Group, who is utilising its extensive store network to support charitable organisations this festive season, to bring some joy to thousands of less fortunate people around the country.