Increase retail space profitability with interactive geospatial analytics
The Challenge
As one of the busiest airports in the world, our client was struggling to profitably manage its 70,000 square meters of retail space. They lacked the capability to proactively manage tenant placement, monitor tenant performance, handle lease renewals and manage promotions targeted at increasing passenger footfalls. These inefficiencies led to significant revenue losses due to non-profitable tenants, empty spaces, low passenger footfalls and a drop in travelers’ retail experience.
In addition, our client’s commercial operations team had to manually track contracts and derive the insights needed to run their business, which resulted in significant administrative cost and time delays.
The Solution
Infocepts designed & developed an interactive geospatial app that that provides a digital bird’s eye of the airport retail space across terminals with quick access to real-time store sales and rental insights.
The solution provides a heatmap of tenant performance on the airport map with drill-down to measures such as gross sales, trade revenue management (TRM), and average revenues for prior periods, enabling our client’s Commercial Ops team to track tenant performance in real-time and manage their low performing tenants. The users can further click on any outlet name to analyze tenant details—including contract end date, outlet and tenant history, tenancy agreement details. Alerts were sent out periodically to notify operations managers on lease expiry scenarios and exceptions.
In addition, the solution enabled the airport management team to combine the insights from the app with passenger feedback and preferences to identify appropriate tenants and optimize tenant placements.
The Outcome
- Improved time-to-insights from days to minutes while enabling our client’s commercial ops team to access all data and insights in a single view – a user-friendly and intuitive manner map of the airport.
- The real-time performance tracking capability and alert feature increased occupancy rates and profitability by enabling users to take timely corrective measures on poor performing tenants, perform on-time lease renewals, new lease and tenant rotation decisions.
- Enabled a 3 years savings of 283K USD through efficiency and productivity gains while minimizing revenue loss.
- Contributed to delightful passenger experiences by addressing passenger shopping preferences and feedback which in turn enabled our client’s ranking amongst world’s top airports.
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One of the most impressive aspects of the Infocepts geospatial app is its ability to provide quick access to real-time store sales and rental insights. With just a few clicks, we can gather critical data on individual store performance, sales trends, foot traffic, and rental metrics. This real-time information has empowered us to make data-driven decisions, optimize store layouts, and identify areas for improvement.
Head – Commercial Ops
Leading Airport Group
About the Client
Our client is a leading airport group that handles passenger traffic at one of the world’s largest and busiest airports. Annually it experiences over $11.5M passenger movements over 70,000 square meters of retail space.
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