Current position and development perspectives SHOPPING CENTER BURSA 2009

1. Current position and development perspectives SHOPPING CENTERBURSA 2009 Fahrettin Kerim Gökay caddesi No:245, D:6 Göztepe / Kadiköy Tel 0539 365 04 85 e.ozturk@sad-marketing.com - www.sad-marketing.com MARKETING SURVEY AND ADVICE PARIS. SAO PAULO . ISTANBUL 23 Rue de la performance 59660 VILLENEUVE D’ASCQ Tel 03 20 815 820 - Fax 03 20 8158 21 etudes@sad-marketing.com - www.sad-marketing.com 1 VAL D’EUROPE - ETUDE CLIENTELE - Juin 2008

2. Trading area ofBursa

3. The trading area ofBursa The trading area

4. The trading area ofBursa The trading area: 759 007 inhabitants The shopping center Carrefour Bursa catches a very large trading area within 759 007 inhabitants, comparing to 592 648 inhabitants in 2005. The shopping center realizes 54% of its turnover on its immediate area (zone 1 to 6) against 48 % in 2005. * Tendancy

5. Analysis of Center’s performance and marketing

6. Analysis of Center’s performance and marketing Household consumption The details of the Turkish household outgo reveals a typical consumption of a developing country with excess in food products, alcohol and cigarettes and under-consumption in culture, leisure and education. The consumption of Istanbul and Ankara compared to the whole country is about to be more similar to the French one, even though the differences are still important. Source : Tuik, 2007

7. Analysis of Center’s performance and marketing Household consumption Turkish household expenses are increasing, and it impacts a progressing standard of living. Consumption attended a growth of 1.5 between 2004 and 2007. Source : Tuik, 2007

8. Analysis of Center’s performance and marketing Analysis of Shopping center’s performance The shopping center Bursa counts about 8,1 millions visitors and its turnover is estimated at 176 Millions TL. The Center achieves a good performance on its customers: it captures almost 13 % of their consumption against 12,3% the average of 5 studied centers. Between 2005 and 2009, the center lost in performance. Shopping center’s performace 21,7 % 12,8 % Market shares – Carrefour Bursa Market shares – Competitors

9. Analysis of Center’s performance and marketing Visitors number during 2008/2009 Weekly Average input: a decrease of -9% between 2008 and 2009 over the same period . Weekly Average (January to April): 159 855 174 683 2009 2008

10. Analysis of Center’s performance and marketing The marketing The Carrefour Bursa center is very well-balanced in its marketing mix. The domestic capital goods sector (domestic equipment) is under-represented compared to the average of 5 studied centers, and also to its 3 main competitors. Nevertheless, the offers are well developed.

11. Extending opportunities of CarrefourBursa shopping center

12. Extending opportunities ofCarrefour Bursa shopping center Threats and opportunities It is necessary to distinguish the density of shopping malls situated in the city of Bursa and on its whole customer trading area. In 2005, the competition was especially intense in the trading area but less intense in the city. Now, between 2005 and 2009, numerous shopping centers were opened in Bursa. Consequently, the density has progressed of about 97% in Bursa’s area and about 105% in the customer trading area. The densification should continue, with numerous openings in Bursa.

13. Extending opportunities ofCarrefour Bursa shopping center Threats and opportunities (Density : sqm/1000 inhabitants)

14. Extending opportunities ofCarrefour Bursa shopping center Threats and opportunities 1 – Threats The current customer trading area is very competitive with 9 shopping malls on the zone . The Carrefour Bursa center is well sized comparing to its main competitors. The competition is going soon to strengthen with the arrival ofAnatolium Project (78 000 m²) situated in North, except the trading area of Carrefour Bursa. The project foresees the arrival of IKEA, Carrefour, Best-Buy and a surface of do-it-yourself. It will have an impact on zones 7 and 9.

15. Extending opportunities ofCarrefour Bursa shopping center Threats and opportunities • Facing its main competitors, Carrefour Bursa is rather well sized and provides a good marketing. • 2 – Opportunities • The center disposes of real assets: • - Fame of Carrefour • A powerful shopping center • A wide customer trading area • A population situated in the immediate area of the center, having a superior standard of living compared to the average of the city.

16. Extending opportunities ofCarrefour Bursa shopping center Recommendations The surface of do-it-yourself could be a generator of additional stream to the center. It also has the vocation to enlarge the attraction zone of the center. The center provides a good marketing but the arrival of certain signboards requested by customers, which are those of person's equipment, will have a positive impact.

17. Extending opportunities ofCarrefour Bursa shopping center The competition Anatolium As Merkez Korupark Özdilek Arena Real Nil Park Blue Lotus Meridyen Kent Meydani Zafer Plaza Centres existants Centres en projets Centres ayant fermés

18. Extending opportunities ofCarrefour Bursa shopping center The competition Existing shopping centers Projects

19. Appendices

20. Analysis of Center’s performance and marketing The plan of the shopping center

21. Analysis of Center’s performance and marketing The signboards of the shopping center