Historically, the availability of precinct transaction or pedestrian data was considered patchy at best and completely unreliable at worst. The reliance on self-reporting by shopping centres has called into question published data regarding shopping centre performance.
Outside of the larger malls the situation is even more dire. In these precincts, there is little to no intelligence to assist in understanding trading performance. The decision to establish a new outlet (and the associated huge dollar commitment that goes along with that) consequently comes down to educated guesswork.
To solve this issue, Geotech has partnered with Mastercard, to provide our clients with access to quarterly transaction data for around 5,000 precincts across Australia. This has been a game changer for many of our clients, to be able to gain an understanding on performance across a range of different precincts including:
- Shopping Malls
- Shopping Strips
- CBD / Commercial Precincts
- Big Box / Homemaker Centres
- Airports & Transit Hubs
In addition, Geotech has established a cutting edge online mapping interface (Precinct Scout) that allows users to drill down into any of the almost 5,000 retail precincts throughout Australia. Powered by card transaction data, included is information on Transactional Volume, Average Spend per Transaction, Total Sales and Sales Change (compared to 12 months prior).
Precinct Scout visually displays the strength of the precinct across each of these measures. Clicking into a precinct displays all of the transactional and centre data relevant to that precinct, along with information on how that precinct ranks against others in the state. This mapping data has allowed Geotech customers to accurately analyse and compare the trading performance within a diverse range of retail precincts across Australia, completely revolutionising the hunt for high potential sites.