Our Services

We understand the drivers of successful retailing in today’s sophisticated and complex consumer markets.  We have a track record in helping our clients achieve out-performance in asset value growth & deliver profitable retail sales.  We are regularly called on to give Expert Witness evidence in cases that relate to consumer markets and retail profitability.

Please click on an option below to find out more about how we can help you…

Pre-development Performance Optimisation

Our flagship service for developers harnesses all of the services we offer with the objective of identifying tangible linkages between asset value and the size and character of the consumer market and competitor retail supply. We help you to achieve the development value goal:

“Achieve optimum asset value on completion by identifying & delivering sustainable levels of passing rent via a tenant mix that optimises yield”

The processes we use deliver answers to the following questions:

  • Who are the consumers, which should we target?
  • How many could we attract?
  • Who are the most valuable consumers, how do we identify them?
  • How do we ensure that our development is attractive to these consumers?
  • What is the optimum mix of merchandise and tenants to deliver it?
  • What turnover could target tenants potentially achieve?
  • Can they trade profitably whilst paying target ERV?
  • How can we optimise upside rent paying potential?
  • How can we best configure retail space to optimise sales & rent paying ability?

Our work is about identifying the factors that will attract more of the right consumers and turn them into customers, ensuring they visit frequently and spend as much as possible during their visit. It’s also about understanding rent sustainability and quantifying the scope to maximise upside, whilst minimising downside comparisons with target ERV. Finally it’s about making sure that the space you develop is properly configured to optimise profitable sales. This is the surest route to achieving the optimum development value.

The work we do in pre-development phases develops the strongest possible platform for the finished development. The completed shopping centre asset can move seamlessly forward into Asset Performance Measurement & Improvement designed to deliver optimum asset value.

Consumer Insight Research

We have a reputation for perceptiveness and the quality of our analysis. Our USPs are two-fold – firstly that our industry experience helps us to ensure that the research delivers actionable recommendations of genuine relevance to our clients. Secondly that those with the experience design, analyse & interpret to bring range and depth to the project. Our retail business consultants develop an unsurpassed understanding of the market in which our clients’ centres trade. The conclusions we reach and recommendations for action that we make are firmly rooted in the market realities.

Discussion Groups

We use discussion groups where the needs of the project demand in-depth evidence of consumer attitudes & shopping behaviour. We use our unrivalled experience of the way consumer and retail markets work in the specification of discussion groups and preparation of discussion guides. We ensure that discussion group evidence integrates seamlessly into the wider research programme to deliver maximum value from the investment. In particular this means using discussion group evidence to refine the design of consumer surveys, ensuring that surveys engage with issues of real importance to you and your potential customers.

Consumer Surveys

We design and implement consumer surveys with a clear focus on the need for actionable results. On-street or mall, door to door or by telephone; whether the sample size is 500 or 5,000, we bring a sophisticated level of insight to our consumer survey work. Our market leading analysis techniques get right under the skin of the consumer. We find that the insight we bring is inevitably influenced by the work we do on other aspects of client work. We have a clear understanding of the outputs necessary to help identify a genuine market opportunity for our clients’ development. We design our research to deliver outputs that we know from experience, are relevant to optimising development value.

Pedestrian Flow Surveys

Pedestrian flow evidence is a fundamental building block when quantifying the market opportunity for new shopping centre developments. We use tried & tested techniques that are proven to be accurate and cost effective.

Catchment Analysis

We know the techniques in use today. More importantly we have direct experience of the relative capabilities of each technique and which is best suited to the task. Logically, catchment demand has to be sufficient to accomodate retail sales actually achieved. Our work on both sides of the consumer demand / retail supply equation ensures that we have strong sense-checks concerning catchment size. Too many third party catchment demand analyses fail to quantify the value of consumer spending required to sustain the value of sales actually achieved in our clients’ centres. When we analyse catchments, our clients can be confident that the result will accurately reflect real world performance.

Tenant Mix Optimization

Our knowledge of tenant sales & profit performance in a wide range of market sizes & conditions is second to none. We understand how sales & profit densities vary according to the dynamics of the market concerned (size, footfall volumes, consumer profile, competition). This expertise has equipped us to help our clients identify the optimum mix, of merchandise and of tenants capable of fully exploiting the market opportunity, at sustainable levels of profit & rent paying potential capable of optimising asset value on completion.

Sales & Sustainable Rent Potential

Our developer clients benefit from the experience of sales, profitability and sustainable rent performance we have gained from our asset management projects. We put this experience to work on your project by developing finely judged estimates of the turnover & sustainable rent potential of the optimum tenant mix. We analyse sustainable rent potential in the context of target ERV, highlighting upside potential & downside risks. This helps you to optimise development value by closely matching the final centre configuration and tenant mix to known market potential.

Targeted Tenant Recruitment

Retailers lease shops in the hope of making a profit. If they always succeeded in this goal, leasing shops would be simple enough. Unfortunately they don’t, which is one of the reasons getting their favourable attention is such a challenge. Having helped you identify your target consumer market, Millward Associates can go further by supporting leasing activity. We do this by preparing market based evidence that focuses the retailer’s attention on the profit opportunity. We do all the work for the target retailer; succinctly presenting the evidence of market size and character; quantifying the opportunity for them; demonstrating the turnover & profit potential for their business

Impact Studies

We have the experience & expertise necessary to determine the potential impact of any proposed change to the status quo in the retail market in which your centre trades. Our starting point is to understand present market demand and supply characteristics. This provides a secure platform from which to investigate the impact of the proposed market change. Long term relationships with centres have enabled us to perfect research techniques that deliver credible evidence of future potential and the opportunity to compare market changes predicted in the past against the reality as the years unfold.

Expert Witness

Our consultants have the right combination of experience, expertise and an authoritative command of the retail and retail property industries to act as effective expert witnesses. We have been called to give such evidence on numerous occasions and our evidence has resulted in significant material impact on the determination of cases ranging from loss of profits to planning appeals.