ECE Location Analysis
AI-Powered GoogleMaps Analysis
Collection and analysis of GoogleMaps reviews of shopping centres, city centres, shopping streets and competitor locations helps identify location issues and visitor number drivers.
Shopping centers today face a multifaceted set of challenges. Firstly, they often lack insight into customer purchasing behaviors, primarily because customers are direct clients of the tenants, not the shopping center itself. As such, unless loyalty programs or customer-oriented apps are in place, direct data remains elusive. Secondly, getting data in a retroperspective is often impossible, making measuring the impact of past alterations in the center or its environment difficult. Thirdly, competition is diverse, not just from other shopping centers, but also from individual shops, city centers, and outlets. Lastly, shopping centers are dependent on the performance and appeal of their tenants. Given these challenges, secondary data sources such as Google Maps are very helpful. They offer insights into what customers like or dislike about a shopping center and its tenants as well as how specific categories like men's clothing or Italian restaurants perform. This information is available not only for the center itself at the present, but also for the past and for its various competitors. This is especially relevant as star ratings and reviews at a platform like GoogleMaps are more than just communication towards the center owner. As ratings and reviews are public, they also act as a communication channel about the center which the center management itself cannot control directly. With more and more people consulting Google Maps for information about locations, understanding this external perception is paramount for businesses.
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As a result of these insights, shopping centers can derive actionable intelligence for targeted investments and restructuring initiatives. Moreover, the data can be used to optimize the composition of the mix of shops in the center, and offers important information for strategic conversations with current and potential tenants. Furthermore, the feedback and analysis can guide the long-term evolution and strategic positioning of the shopping center, ensuring it remains relevant and competitive in the marketplace.
ECE is a leading German real estate company operating over 200 shopping centers in 12 European countries. We conducted an in-depth analysis for ECE, examining data from various centers and their competitors, including both other shopping centers and shopping areas like city centers and broader target areas. Our analysis delved into the performance of businesses, comparing ECE centers to their competitors both historically and in the present. Moreover, we also looked at tenant-level performance. Through this analysis, we identified key topics people like and dislike about the centers as well as how these topics are interconnected. Notably, we uncovered the impacts of various changes within the centers or their surroundings, such as construction projects or alterations in the centers' layout. Moreover, we were able to deep dive into the performance of certain key areas within the shopping centers such as food courts or fashion stores.