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Gateway Mall Business Decline Mitigation Plan

Gateway Mall Business Decline Mitigation Plan . Presented by The Boyer Company Monday, July 16, 2012. The Boyer Company. Chief Executive Officer – Kirha Quick Vice President, Research Analysis – Adam Poulson Vice President, Risk Assessment – Kyle Swanson

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Gateway Mall Business Decline Mitigation Plan

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  1. Gateway Mall Business Decline Mitigation Plan Presented by The Boyer Company Monday, July 16, 2012

  2. The Boyer Company • Chief Executive Officer – Kirha Quick • Vice President, Research Analysis – Adam Poulson • Vice President, Risk Assessment – Kyle Swanson • Vice President, Marketing and Public Relations – Cassandra Taylor • Vice President, Marketing and Public Relations – Staci Morris • Chief Operating Officer – Jason Hansen

  3. Introduction and Background • Debuted in 2001. • Billed as Salt Lake City’s First open-air contemporary shopping center. • Conveniently located in the Downtown area. • We have obtained 130 retail shops, dining and entertainment service providers.

  4. Research Analysis • Lost more than 20 tenants (25%) since January • More than 12 moved directly to City Creek. • Some include: Banana Republic, J.Crew, GAP, LOFT, American Eagle Outfitters, and recently the Apple Store. • Recent negative public and media stigma “The other mall downtown”.

  5. Risk Assessment: Guidelines and Criteria for Success • Budget of $100,000 • HeightenedAwareness of the Gateway Mall • Prevention of Loss of Stores to City Creek

  6. Generation of Additional Traffic to Gateway Mall • 30 Second commercial sports in all Larry H. Miller Theaters. • Ad-Words campaign through Google and Yahoo. • Behaviorally Targeted Yahoo Banners • Banners in Real Stadium and Energy Solutions Arena Center • Billboards along Interstate-15 and Upon the exit ramp at 600 South. • Social Media, e.g. Facebook Profile.

  7. INCENTIVES • $1 Off Trax fair with purchase • Bounce-Back Specials • (for every $25/$50 spent consumers receive coupons to “bounce-back” within a time period to receive $5/$10 gift card • CORPORATE FUNDING AND SPONSORSHIPS • Banks • Hotels • Radio Stations • Sports Teams • LOCAL EVENTS • Farmers Market • Art Festivals • Charity Events • Marathons

  8. Growth Implementation Plan • ADVERTISING-BUDGET $60,000 • LARRY H MILLER MOVIE THEATER COMMERICALS- Cost effective. Business improvement of Gateway is imperative to Megaplex business. • ADWORDS CAMPAIGN-Gateway needs an internet presence. Keywords are extremely cost effective through venues such as Google and Yahoo. • YAHOO BANNERS- Behaviorally targeted to specific demographic. • BANNERS IN REAL STADIUM AND ENERGY SOLUTIONS CENTER- Top of mind awareness for tens of thousands of people. Also cost effective.

  9. Growth Implementation Plan • INCENTIVES-BUDGET $15,000 QUARTERLY • BOUNCEBACK PROMOTIONS- • Gateway will partner with individual stores to offer discounts for tiered dollar amounts spent. • Run campaign once quarterly for specific promotional periods. • CORPORATE FUNDING AND SPONSORSHIPS • We already have buy in from the following corporations: • Mountain America Credit Union • America First Credit Union • Utah First Credit Union • Hyatt Hotel • Hotel Monaco • X-96 and 1280 Zone • Utah Jazz, Bees, Utah Blaze

  10. Growth Implementation Plan • Farmers Market • Arts Festival • Charity Events • Marathons • Renting out Union Pacific building adjacent to Gateway Mall. • We have spoken with the downtown alliance and steps are currently being made to implement these events at the Gateway Mall moving forward through December 2013.

  11. Conclusion • Success Measures by Q4 2013 • Advertising and Incentives • Gateway will have a ZERO store vacancies • Overall Website traffic will also increase 15% • An average store increase of 10% • Local Events and Corporate Sponsors • Overall foot traffic to the Mall will increase 20% • These strategic actions we are taking now, will ensure long term, total success for The Gateway Mall!

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