Leichhardt Council is preparing to take on mega mall operators by undertaking a major analysis of credit card data to determine which shops are needed to attract more shoppers to local main streets.
In a first for any Council in NSW, Mayor Darcy Byrne said Leichhardt Council has allocated $80,000 to work with data analysts to identify local spending patterns in high streets, research that until now only corporations like Westfield have made use of.
“We know that Westfield and other mega mall operators are constantly analysing spending patterns to improve their tenancy mix. We want to imitate this clever approach and beat them at their own game.
“Through this research, we’re going to be able to use available credit card data that will show us precisely what local people and visitors spend their money on in our local businesses and what locals are leaving the area to buy elsewhere.
“We can then present a practical plan to landlords and real estate agents about how they can improve their tenancy mix to attract more customers and trade to the area.
“We also need to know what shops and services residents want in our local area to enable a more informed and strategic approach to marketing and promotion.
“This project will start to put our local businesses on a level playing field with the shopping mall giants, who as we all know, are aiming to suck the life out of our main streets.”
