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This year's ICSC Canadian Shopping Centre Awards winners, culled from the very best of retail marketing across that country, offer a host of innovative ideas for marketing, promoting, designing and developing retail properties.
One of the winning entries was “Creating Space for Innovation,” a program at Oxford Properties Group’s Yorkdale mall, in Toronto, intended to give emerging brands, startups and e-tailers a cost-effective way to test physical space.
In a store called Concept, Yorkdale provided short-term leasing opportunities for emerging brands and startups. Designed to foster creativity, Concept features flexible custom architecture and an adaptable, modular interior. At 3,600 square feet, the space offers ample gallery and showroom areas, digital screens, fitting rooms, storage, a café and kitchen facilities.
Retailers were carefully selected and then provided with merchandising, operational and staffing guidance and assistance. They were also encouraged to employ the reach of their own social channels to help generate awareness.
Fueled primarily by social media, this experiential environment garnered some 23 million media impressions; surpassed sales projections by roughly 158 percent and revenue targets by about 65 percent; attracted 36 new brands; obtained five new long-term leases; and realized a 12.4 percent return on investment.
The concept won the Gold in the corporate-revenue category. The Canadian Shopping Centre Awards are seen as a benchmark of quality throughout the industry. Check out this year's entire group of winners and honorees.
By Brannon Boswell
Executive Editor, Commerce + Communities Today
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