Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/223410
Title: THE MAGNETISM OF ANCHOR TENANTS IN SHOPPING MALLS: ARE THEY STILL RELEVANT?
Authors: CHOEY CHING HOW
Keywords: Real Estate
Tay Kah Poh
Anchor Tenant
RE
2013/2014 RE
Issue Date: 2-May-2014
Citation: CHOEY CHING HOW (2014-05-02). THE MAGNETISM OF ANCHOR TENANTS IN SHOPPING MALLS: ARE THEY STILL RELEVANT?. ScholarBank@NUS Repository.
Abstract: Anchor tenants have been perceived as the backbone of a shopping mall. However, in recent years, numerous anchor tenants have vacated their premises, leaving behind large vacancies. In light of this phenomenon, the study aims to ascertain the magnetism and relevance of anchor tenants, as well as to determine the priorities in the planning of the retail mix of a shopping mall. In various literatures, anchor tenants are expected to be the traffic attractor for the mall in exchange for the discounted rents that they enjoy. However, there is a recent trend in retail space conversion from large anchor stores to small retailers, and the findings indicate that these small retailers have as high or even higher customer drawing power than the anchor tenants. It was also observed that there is a downward trend for anchor tenants by generation. This means that the inclusion of anchor tenants that are in the bottom percentile in terms of drawing power will result in developers being unable to realise maximum profits, given the discounted rents that the anchor tenants enjoy. The rise of Food & Beverages tenants and Entertainment tenants was identified by the author and through the findings, it was found out that these tenants perform similar function as anchor tenants as they are able to generate positive externality in terms of attracting traffic and increasing sales. The decrease in relevance of anchor tenants indicates to the mall managers that they should not be fixated with securing anchor tenants while planning for the tenant mix of a shopping mall but instead, they should focus on how the tenants contribute to the shopping mall’s concept and how compatible they are to the tenant mix. Therefore, the author proposes the “Ice-Cream Cone Model” of decision-making for a shopping mall to illustrate the updated priorities for mall managers, in light of this dynamic retail industry in the 21st century.
URI: https://scholarbank.nus.edu.sg/handle/10635/223410
Appears in Collections:Bachelor's Theses

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