- The company closed business deals to incorporate new tenants for a total of 67,000 m2.
- Sales and flows stabilized in line with 4Q2020 despite increased health restrictions in the period.
- Implementation of omnichannel solutions and services boosted sales.
Santiago, 11 May 2021. – In a scenario of greater restrictions due to the evolution of the pandemic, Mallplaza managed to maintain a stabilized operation during the first quarter of 2021, in line with the results achieved at the end of last year. Thus, the company reported sales of around 95% and a visitor flow of 67% compared to the same quarter in 2020, which was also enhanced by the closing of new lease deals for a total of 67,000 m2, which primarily include tenants in the retail, mixed use and retailtainment categories.
“When looking at Mallplaza in the next few years, the fact that new lease deals were closed this first quarter of the year for a total area of 67,000 m2, equivalent to 290 stores, primarily including tenants in the retail, mixed use and retailtainment categories, such as: Casa Ideas, Tommy Hilfiger, Tricot, CIC; services like the Civil Registry and Sercotec; Emporio La Rosa, Buena Barra, Johnny Rockets, among others,” said Mallplaza CEO Fernando de Peña.
In a period of intermittent lockdowns and health restrictions, sales and flows stabilized in line with 4Q2020. Thus, sales stood at 94% and the visitor flow was 67% compared to the same quarter of the previous year, maintaining the high conversion rate shown during the pandemic.
Regarding the area in operation, the company kept its 25 shopping centers operating, with an average of 2,500 businesses open, equivalent to 65% of leasable area, except for cinemas, play areas and gyms in Chile and Peru. “In addition to maintaining the suspension of rent payments for tenants that were unable to open to the public, during this period we were also able to verify that people have adapted to the health restrictions, meaning that the reduced flow on weekends has been translated into sustained growth in visits during the week,” De Peña said.
Omnichannel proposition focused on sales
The implementation of omnichannel solutions also allowed boosting tenants’ sales levels during lockdown periods and providing a more differentiated and added value experience to visitors, becoming a relevant factor for the company’s future growth.
In line with this, during the period reported the progress made with Click & Collect , which already has 18 pick-up points, stood out along with the integration with Linio in Peru, which allows the logistical delivery of digital sales made by tenants and sellers on that platform. In addition, the Pit Stop initiative, which allows the delivery times for digital orders to be reduced, also showed positive performance in the first quarter of 2021 and represented 28% of total food delivery orders dispatched in the period, with a total of over 530,000 orders accumulated since it began operating (June 2020).
The company has incorporated and will continue to incorporate digital talent and capabilities to enhance its omnichannel ecosystem and shopping centers as strategic logistics hubs.
Post-pandemic scenarios
In the context of the progress made with the vaccination process in the region, particularly in Chile, Mallplaza’s urban centers “are prepared to respond to a greater need for people to meet and socialize,” Fernando de Peña said. Currently, 35% of Mallplaza’s floorspace is occupied by businesses that are complementary to retail, such as gastronomy, entertainment and cinemas.
“We are building the Mallplaza of the future. Thus, for example, we have defined a new corporate structure that will consolidate the agile and efficient execution of our strategy, allowing us to focus more on our tenants, flexibility and the capacity to adapt, lending new meaning to our shopping centers.”
