Make Decor Great Again, or How to Turn a Loss-Making Shopping Center into a Profitable One?
Prerequisites:
A year and a half ago, when the Decor House shopping center hadn't yet opened, it was already clear that its format was outdated. Market analysis showed that Decor House was falling far short of its competitors in key areas. Meanwhile, audience analysis showed that the shopping center format itself was becoming less and less popular with each passing year.
The first wave of quarantine measures also acted as a catalyst, significantly undermining the shopping center's market position. While city residents were forced to stay home and were actively rethinking their homes and daily lives, Epicenter continued to operate.
These initial conditions had to be addressed in the future.
The first wave of quarantine measures also acted as a catalyst, significantly undermining the shopping center's market position. While city residents were forced to stay home and were actively rethinking their homes and daily lives, Epicenter continued to operate.
These initial conditions had to be addressed in the future.
Goals:
The specifics of the business model make it impossible to measure conversion rates fully. We can't know how many transactions resulted in activity and how many leads converted into sales for tenants. For this reason, we decided to measure the effectiveness of activities based on offline visits to the shopping center. The primary goal was to increase the number of offline visitors to the shopping center, which would allow us to increase rental rates in the future.
Solution:
An in-depth market analysis revealed a demand for shopping centers in the mid-to-high price range. Around 50% of the tenants at the Decor House shopping center were represented by tenants not found elsewhere. This dictated a range of exclusive products.
The decision was made to transform the shopping center to suit the new price segment and eliminate all references to Decor House's past. The renovated shopping center focused on a narrower audience segment and began actively working with architects and designers across the city.
A decision was also made to move the business online, which would provide a competitive advantage over its main competitor, Megadom, and would allow for the future consolidation of all products from related shopping centers in a single location to allow tenants to enter new markets.
The new communications policy assumed that our consumers are a kind of "artist" who reflects themselves in the space around them. This is how the brand's core message emerged: "Renovation as Art." We don't dictate to our clients what to do or how to do it, but rather provide the best and most unique tools for bringing their ideas to life.
We began warming up our audience during the lockdown, which helped encourage consumers to delay purchasing materials at Epicenter and other existing retail chains and had a positive impact on traffic after the reopening.
The decision was made to transform the shopping center to suit the new price segment and eliminate all references to Decor House's past. The renovated shopping center focused on a narrower audience segment and began actively working with architects and designers across the city.
A decision was also made to move the business online, which would provide a competitive advantage over its main competitor, Megadom, and would allow for the future consolidation of all products from related shopping centers in a single location to allow tenants to enter new markets.
The new communications policy assumed that our consumers are a kind of "artist" who reflects themselves in the space around them. This is how the brand's core message emerged: "Renovation as Art." We don't dictate to our clients what to do or how to do it, but rather provide the best and most unique tools for bringing their ideas to life.
We began warming up our audience during the lockdown, which helped encourage consumers to delay purchasing materials at Epicenter and other existing retail chains and had a positive impact on traffic after the reopening.
Work completed:
• Market analysis, segmentation, and in-depth analysis of key competitors.
• Consumer analysis. Identifying the core target audience. Creating customer personas, empathy maps, and customer journey maps with key touchpoints.
• Brand positioning development
• Brand promotion strategy development
• Product grouping and shopping center development strategy development
• Calculating the required resources for strategy implementation. Department formation and contractor search. Project budget calculation.
• Communications materials development. Contractor management.
• Consumer analysis. Identifying the core target audience. Creating customer personas, empathy maps, and customer journey maps with key touchpoints.
• Brand positioning development
• Brand promotion strategy development
• Product grouping and shopping center development strategy development
• Calculating the required resources for strategy implementation. Department formation and contractor search. Project budget calculation.
• Communications materials development. Contractor management.
Results:
After the lockdown ended, we managed to not only maintain consistent traffic but also grow it by an average of 20-25%, which is an excellent result compared to the decline in traffic among competitors. Traffic is now, on average, 20% higher than the same period last year.
Communication tools increased brand awareness by 30% over a two-month advertising campaign, and the average order value increased by 22%.
Communication tools increased brand awareness by 30% over a two-month advertising campaign, and the average order value increased by 22%.
Positioning
Renovation is the transformation of a "concrete box" into a "cozy home." Comfort, aesthetics, and convenience are the primary reasons people undertake renovations. However, ideas about comfort, aesthetics, and coziness are entirely subjective. People are, of course, influenced by social trends, but they try to choose the most suitable option for themselves from the current trends and often don't hesitate to experiment.
This is why it can be said that an interior is a reflection of the author's personality. The materials used to create an interior are then tools for self-expression in space.
Renovation is an art form where the author realizes their best ideas.
Slogan: Renovation as Art
This is why it can be said that an interior is a reflection of the author's personality. The materials used to create an interior are then tools for self-expression in space.
Renovation is an art form where the author realizes their best ideas.
Slogan: Renovation as Art
Identity
Integrating Art into Renovations:
We're at the intersection of art and renovation tools.
What do we look like?
"Like an art store where you can buy a hammer."
We're at the intersection of classical and contemporary art.
We're at the intersection of art and renovation tools.
What do we look like?
"Like an art store where you can buy a hammer."
We're at the intersection of classical and contemporary art.
More than 80 billboards throughout the city
and at target locations in the region
and at target locations in the region
New concepts in SMM management
Tilda Publishing
