Marketing a new way to shop

March 10, 2011 | 13:33
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The Vina Trading Centre Limited Company and its agency Savills Vietnam has opened for lease a trading centre part of the Mo Trading Centre Complex. VIRs Bich Ngoc talks with Savills Vietnam’s head of retail Le Kim Hoa about the centre’s advantages.
Le Kim Hoa

There are now many modern trading centres re-built from the basement of the traditional wet markets. What are the advantages of those trading markets when they come into operation?

We can see some advantages of shopping centres associating with traditional markets.

Firstly, land sources of retail supplied in central districts and the urban areas in Hanoi are limited while traditional markets have favourable locations.

The transformation from traditional markets into modern shopping centres will generate significant advantages of location in comparison with other projects and this is also the strength that can be easily identified when these centres come into operating.

In addition, the areas around traditional markets have sufficient infrastructure and other elements such as traffic, drainage and electricity systems. This creates great opportunities for shopping centres to be built on traditional market areas.

Moreover, traditional markets are well-known to locals with stable number of tenants and customers. If we develop a shopping centre on traditional markets’ area, we can make the most of tenancy source. And when combining with large - scaled marketing campaigns, the shopping centre will become a busy and crowded one.

Being a combination between traditional and modern trading centres, what makes Mo Trading Centre different from other centres?

Mo Market shopping centre has similarities as well as differences from other shopping centres.

Mo Market shopping centre was built up that completely meet the standard of a shopping centre from design, construction as well as technical amenities including elevators, centre air conditioning and lightning systems.

Besides, Mo Market shopping centre has a professional management team to ensure that the trading activities in the building are favourable. There are also food court and entertainment area in the centre to serve the tenants and customers’ demand.

Nevertheless, Mo Market shopping centre also has differences. Being a combination of modern shopping centre and traditional market the centre has completely different categories trade mix, tenancy mix from others.

The tenancy mix of Mo Market shopping centre is more flexible and multiple to create an adequate business environment for tenants, wholesalers and retailers. The tenancy‘s nature is also different, it is not brand name but intermediate and popular goods to locals.

Tenants in Mo Market shopping centre are wholesalers and retailers. Therefore, the target customers of the centre are also not the same compared to other shopping malls.

Could you please disclose the occupancy percentage of this centre since its starting day for lease in October, 2010?

We always have good offers for tenants. The payment options are flexible and favourable for renters. Tenants with long-term leasing contracts and large retail area will receive ideal rents and can choose kiosks in a good location.

In addition, the transfer process is rather simple with supported transfer fee, which creates great opportunities for investors. In the near future, the developer will have mass marketing campaigns to promote and publicise Mo Market shopping centre project in order to create more success for renters.

By Bich Ngoc

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