Woolworths Group commissioned Location IQ to prepare sales documents including trade area analyses and Woolworths sales forecasts for four shopping centres that were brought to the market in early 2020.
Woolworths Group has over 3,000 stores Australia wide and employs more than 201,000 team members, who serve over 29 million customers each week.
Woolworths Group has developed a number of shopping centres across Australia and often seek to divest these shopping centres to focus on their core retailer activities.
The four Woolworths supermarket-based shopping centres enjoy high profile locations and operate in strong trade areas in terms of number of residents, demographics and competition.
Location IQ prepared trade area and Woolworths supermarket sales forecast reports for four Woolworths Group owned shopping centres, namely:
- Keysborough South Shopping Centre (Melbourne).
- Spring Farm Shopping Centre (Sydney)
- Woolworths Wadalba (Central Coast).
- Bakewell Shopping Centre (Darwin).
Key components of each report included:
- A review of the regional and local context of the shopping centre.
- A summary of the current composition and performance.
- Definition of the trade area including current and projected population and retail spending levels.
- A review of the current and future competitive environment.
- A ten-year Woolworths supermarket sales forecast.