SINCE opening its doors in September 2001, Gateway Theatre of Shopping’s foot traffic has reached the 25 million mark.
Overall, the December 2002 shopper flow of 2.26 million was 1.1% less than December 2001, but with an increase of 10.4% in vehicle traffic. This increase in vehicle traffic was attributed to an increase in dedicated shopping trips.
Growth over December in 2001 was 15%, with several national retailers in the 25% to 40% bracket. Market research, undertaken in the two successive Decembers, reveals increasing loyalty to Gateway by Durban customers, and growth in the tourist market.
Research undertaken by Urban Studies revealed an increase in loyalty of 15%, with potential for this to further increase in 2003. The research feedback indicated a significant upwards shift in Gateway’s customer profile, together with a major increase in the tourist component.
Major points include a change in average customer income increasing from R16 000 to R23 500 spend per family increasing from R562 to R845. Tourists visiting Durban made up 31% of the customers, double the figure for 2001 of 15%, while international tourists increased from 1% to 3%.
As a result of positive market feedback, there is renewed interest in space, with 9% of the centre remaining vacant. Negotiations with two national chains are close to conclusion. Together, their ten stores will occupy in excess of 9 000m2, requiring an extension to the centre.
With several stores needing to be combined to facilitate this development, 60 vacant stores will still need to be let. it is anticipated the bulk of this space will year.
Brent Wiltshire, Old Mutual Properties national retail executive, said with its attraction of an average of 1.46 million visitors a month, Gateway takes the successful formula of mixing leisure, shopping and entertainment to a new level. Some 40% of its entire area is devoted to entertainment.
Research has indicated that night trading is taking increased prominence. This is in line with an international trend for 30% of moviegoers to make other purchases in the centres they visit.
ARTICLE ORIGINALLY PUBLISHED ON 02 APRIL 2003 | MERCURY
