AN ANALYSIS OF THE CLUSTERING EFFECTS ON THE RETAIL MALLS IN THE JURONG EAST
HENG THIA SIANG REGINALD
HENG THIA SIANG REGINALD
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Abstract
This study focuses on the Jurong East Mall Cluster: IMM, JCube, JEM and Westgate, which was established in 2013 and has since grown to become a shopper's hotspot. To decipher the popularity of the mall cluster, the author first seeks to investigate the extent of business efficacy and shoppers footfall attributed to the clustering effect. In addition, specific benefits and disadvantages of clustering as well as the implications for future retail models and urban planning are also investigated.
First, a Linear Regression on Gross Revenue, Net Property Income and Footfall was conducted to evaluate financial performances of the mall cluster before and after the clustering. Second, the demographics and descriptive statistics of respondents were analysed using ANOVA Tests. Third, correlation matrices were employed to investigate the influence of mall attributes on customers’ satisfaction and the average expenditure per trip. Fourth, a Multiple Linear Regression was executed to examine the significant variables that could influence customers’ satisfaction and their influence on each other.
Findings showed that mall clustering is significant to the increased business performance of the mall cluster. However, the effects of mall clustering impacted individual malls differently, with older and less vibrant malls registering more negative externalities than positive externalities.
There is a dearth of literature exploring the effects of mall clustering concerning Singapore. This paper thus aims to provide an extensive analysis of mall clustering effects in Singapore’s context and contribute to the existing literature on retail agglomeration effects in the form of urban malls.
Keywords
Real Estate, 2020-2021 RE, RE, Wong Khei Mie Grace, Jurong East Mall Cluster, Retail, Shopper, Footfall, Agglomeration effect
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2020-11-13
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Dissertation