As discussed in earlier articles particularly in a Retail REIT it is crucial that there should be strong bonding with the client of the REITs, so let’s look at some of the comments from one of the leading global retailer group, Westfield Group:[Extracted from its website:]

Retailer Services

Westfield‘s success is linked to the success of the retailers leasing space in the shopping centres. Therefore strong, long-term relationships with some of the world’s best retailers has always been a priority for Westfield.In Australia and New Zealand, where a much larger proportion of retailers in shopping centres are small to medium sized businesses compared to the US, additional retailer education and consultancy services are now integral to Westfield’s operations to ensure a focus on quality retailing and customer service.Below are some of the support services available to Westfield retailers.

Retailer Support

There are times when retailers need one-on-one advice to boost a business or to manage a fast-changing environment. Westfield can provide skilled retail consultants who can provide independent assessments and recommendations which aim to assist the performance.This is an ongoing programme which has helped many retailers to understand the issues affecting their operations, including merchandise planning, shop presentation, financial management, building the brand and maintaining a service standard.

Retailer Skills Development

Providing encouragement and opportunities to increase the understanding of the many skills needed to run a modern retail business is an important part of the Westfield support.Training and educational programmes are put together using experienced communicators. They are planned to form a balanced package of retail training and cover subjects such as:

• Shop presentation
• Selling skills
• Service standards
• Budgets and planning
• Buying and category management
• Sales and marketing

Category Meetings

Category meetings are opportunities for retailers in a merchandise area to meet together with Westfield people to discuss ways to add value to the total category as well as their individual businesses. The meetings are arranged within centres and across a wider group of locations.

Study Tours

Each year there are study tours for retailers who want to stay at the forefront of new ideas and trends in the industry. The larger tour is to the USA and UK and provides introduction to some of the world’s best retail businesses. The Westfield contact creates openings into many businesses at a level that would not be available to an individual retailer. There is also a study tour for New Zealand retailers to Australia, where there is the opportunity to tour a number of Australian shopping centres and to have introductions to retailers in the same merchandise categories.

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