Esther Fung
speaker
145 appearances
3 recordings
1 series
first heard Nov 2017
last heard Nov 2020
Esther Fung’s voice in public audio — every appearance, attributed to the second.
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Appearances
Wow.
They're putting up a fight, and they want to make sure that they can still draw people out during this season.
So they still hope, of course, that people would still spend in the malls or spend in their outdoor centers.
The metric that they usually use to gauge how successful they are would be sales per square foot.
But a lot of these owners now realise that a lot of sales that should be attributed to these four walls don't get recorded because people may go to the store, try on something and they may end up buying online.
So they're not too fixated on that anymore.
And the idea is to draw foot traffic.
A lot more owners are now putting traffic counters and reminding their tenants that, hey, you're still getting foot traffic, you're still getting footfall, you're still getting eyeballs here.
Keep your lease here.
So, yes, the owners tell me that it does translate to more foot traffic, at least from what they've seen so far.
As for sales, they do mention that they are hopeful that they would get more sales this time.
But for the retailers themselves, one of the things that they are concerned about is profitability.
You're getting all these sales, but at what cost?
They could have high year-on-year sales growth, but if their expenses are also increasing and they realise maybe it's not as profitable as before, they might have some painful conversations next year when it comes to renewing the lease.
Mall owners definitely consider that as well.
But in this current environment, they have to be more aggressive.
They're not going down without a fight.
And while they would like to see a huge increase in sales because of all their efforts, they also look at the number of social media mentions that they get when they put up some of these events.
How many pictures are taken on Instagram, shared on Facebook, Twitter.
with, of course, their center's hashtags, that is also something that they are using to justify all this expenditure.
Showing 121–140 of 145 · page 7 of 8
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