The pace of change in retail has never been faster. As consumer behaviour continues to develop, its impact raises fundamental questions about the need for, the role of and the value of physical space.

The best physical spaces have a clear raison d'être for consumers, be it convenience, experience or a compelling blend of the two. However, at a time when profit margins are being squeezed and supply of physical space outweighs supply by as much as 40%, the best physical spaces need also to meet the needs of occupiers, providing the space, services, environment and consumers needed to succeed, all at an affordable cost base.

For physical space to succeed, the aims and objectives of occupiers and landlords need to be shared and agreed, and subsequent performance against these objectives needs to be recorded, contextualised and proactively acted upon. This is where STAR can assist.

WHAT IS STAR AND WHO IS IT FOR?

STAR is a secure, free to use, online tool that allows for the recording and reporting of occupier sales data at occupier, merchandise category and centre-level, and benchmarking against a national portfolio of centres.

STAR allows centre management a simple, effective tool to capture and report on sales data, standardising and simplifying reporting to asset management whilst providing insight to inform discussion with store managers.

STAR allows asset management instant access to the sales data for all their schemes, allowing access to occupier performance from across their assets at the touch of a button. Comparison of performance at occupier, merchandise category and centre level, with the context of comparison with other assets and a national benchmark, allows for focus on the areas that matter most and more informed discussions with occupiers and investors.

HOW DOES IT WORK?

To setup on STAR, simply click here and someone from Pragma will be in touch. You will need to provide us a list of units and their current occupier and any historic sales data you wish to add. From here, you are ready to start recording and reporting occupier performance! As occupiers come and go, users can open and close records at the touch of a button, allowing informative sales data to be secured and stored for ongoing use.

STAR allows for the recording of:

1. Actual sales (inclusive or exclusive of VAT)

2. Estimated sales (change vs. same period previous year)

3. Weekly or monthly sales

Crucially, STAR carries out automated manipulation of data to standardise, seasonalise and contextualise as much as possible, allowing for the most complete data to be created and used to inform decision-making.

If you currently have little/no occupier sales data and need to begin reporting immediately, Pragma can provide industry leading assessments of sales performance for all occupiers, allowing the ability to instantly begin reporting sales performance, even if the only ongoing figures provided are like-for-like sales performance.
 

Reporting data
STAR’s improved outputs allow for:

1. Performance for occupiers, merchandise categories and schemes to be reviewed based on the current month, previous 12 months or a bespoke time range, depending on user requirements

2. Performance can be assessed based on % change or value change

3. All data can to be exported to Excel output at a touch of the button (bespoke template provided by Pragma), allowing for bespoke client manipulation as required

4. Data can be easily reviewed for accuracy, trends and anomalies

5. Benchmarking data is available on a monthly basis by merchandise category to add a national context to performance.

HOW DOES IT HELP?

For centre managers

1. Standardise and simplify the recording and reporting of occupier performance

2. Increase the amount of occupier performance recording, through the effective recording of like-for-like changes

3. Increase the relevance of occupier performance recording, through the immediate conversion of like-for-like sales figures into actual estimates

4. Increase the accuracy of occupier performance recording, through provision of accurate week/month convertors, standardised VAT ratios

5. Build relationships with store managers through the provision of contextual performance data

6. Improve the accuracy of sales reporting via informed discussions with store managers

1. Immediate access to accurate, easy to understand occupier performance

2. Easy to use reports with national context to report to fund managers and investors

3. Vital input in understanding occupier performance and profitability

4. Leverage data to make proactive decisions regarding tenant mix strategy, lease renewal, re-gears and valuations

For more information about STAR please contact Pragma on star@pragmauk.com 

Download the User Guide here -