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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

Gateway Mall Business Decline Mitigation Plan

Presented by The Boyer Company

Monday, July 16, 2012

the boyer company
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
introduction and background
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 maintained 130 retail shops, dining and entertainment service providers.
research analysis
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”.
risk assessment guidelines and criteria for success
Risk Assessment: Guidelines and Criteria for Success
  • Budget of $100,000.
  • Heightened Awareness of the Gateway Mall.
  • Prevention of Loss of Stores to City Creek.
generation of additional traffic to gateway mall
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.
slide7

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
slide8

Growth Implementation Plan

  • ADVERTISING-BUDGET $60,000
  • LARRY H MILLER MOVIE THEATER COMMERICALS- Cost effective. Business improvement of Gateway is imperative to Megaplex business.
  • AD-WORDS 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.
slide9

Growth Implementation Plan Continued…

  • 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
growth implementation plan continued
Growth Implementation Plan Continued…
  • 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.
conclusion
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!