RETAIL MANAGEMENT STUDY - "RETAIL PROPERTY" VERSUE "NON-RETAIL PROPERTY"

Abstract

The retail trade in airport terminal is supported mainly by incidental shoppers comprising passengers, welcomers and wellwishers, whereas, Goldhill Square (podium block) is a planned "one-stop" shopping complex. The common element in airport terminal ("non-retail" centre) and Goldhill Square ( retail centre ) is the retail components. However, certain aspects of the retail management of Goldhill Square would differ from Changi Airport Passenger Terminal. Thus, it is the writer's intention to compare the retail management of both Goldhill Square and Changi Airport Passenger Terminal. This study investigates the various aspects of retail management in Goldhill Square and Changi Airport, and includes a discussion on the retail potential together with the implications of extensive retail development in Changi Airport Passenger Terminal. The common elements of retail management, such as retail space planning, leasing strategies and tenant mix, are also applicable to retail management in the airport terminal. However, the terms of agreement, between the concessionaires and the airport management, are more restrictive in nature in order to attain the high standards of management and tenant performance expected in a leading international airport. From this study, it is observed that Passenger Terminal One is providing more new shops and new facilities as a part of the overall plan of Civil Aviation Authority to improve airport services. However, there is a limit to the space that can be utilised for concessionaire activities because airport terminals are designed mainly for major airport operations which occupy most of the building area.