1

e.g. Click & Collect penetration variationSome convenience centres act as C&C hubs

Experience centres see the greatest impact of catering on retail spend & it also works well at convenience centres

e.g. Catering users spend more on retailHowever, the impact is minimal at functional centres

CUSTOMERS SHOP IN DIFFERENT WAYS ON DIFFERENT DAYS Each Centre Needs To Develop An Identity

Source: CACI exit surveys

Experience: Retail Spend

£53.13

£71.16

Functional:Retail Spend

£49.78

£50.30

Convenience:Retail Spend

£54.80

£70.80

= £18.03

= £16.00

= £0.52

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Experience CentreFunctional CentreConvenience CentreBL Average

Catering user Non-catering user % of respondents using click & collect that day

Customers want to shop faster & more conveniently on some days. Experience centres do not tend to deliver this

2

CASE STUDY: GLASGOW FORT (EXPERIENCE)The Leisure Extension Has Had Significant Impact

Note: * based on trading data collected from 67% of tenants YoY for Q4 2013; ** YoY from opening to end of 2013Source: CACI exit surveys 2012-13, Springboard

Before leisure extensionPeak 2012 survey (Easter) unless otherwise stated

After leisure extensionPeak 2013 survey (December) unless otherwise stated

Dwell time 78 minutes 102 minutes

Frequency 46 visits per year 45 visits per year

Overall shopping experience 4.3 out of 5 rating 4.7 out of 5 rating

Family facilities 3.8 out of 5 rating 4.1 out of 5 rating

Choice of catering 3.5 out of 5 rating 4.3 out of 5 rating

Visitors from beyond core 13% 19%

Retail spend £55.75 £123.70

Retail conversion 77% 92%

Catering spend £14.20 £22.01

Catering conversion 36% 35%

Shopper affluence (index vs catchment)

1.25 1.28

Sales* (index) 1.00 1.06

Footfall** (index) 1.00 1.08