When art meets strategy to deliver unique customer experiences
Nestled between Pretoria and Johannesburg, the Waterfall development is Gauteng’s fastest-growing business and lifestyle destination. This smart city features several retail centres, not least of which are the iconic Mall of Africa and neighbourhood centres such as Polofields Crossing and Waterfall Corner.
So, what is the secret behind the success of Waterfall’s retail offering? We spoke to Tito Vorster, Group Treasury at the Waterfall Management Company and Michael Clampett, Asset Management Executive at Attacq, to discover the answer.
It turns out that Waterfall’s recipe for retail success is a combination of art and science, to deliver unique experiences that shoppers want.
“As custodians and developers in the greater Waterfall precinct, Waterfall Management Company and Attacq pride themselves on being able to create an environment in which the various tenants can deliver on their specific strategies,” says Vorster.
Gaining Insights
Property developers and managers must think differently about creating the ultimate retail mix in the current business environment. This entails embracing technology to leverage extensive data analysis and customer insights to understand shoppers’ needs and desires. “We spend a lot of time and energy understanding the people who visit our centres – their likes, dislikes, demographics, as well as shopping and spending patterns – all to create a seamless, tailored shopping experience that isn’t being replicated anywhere else,” says Clampett.
All about the Experience
Clampett says the world of shopping has changed, with malls evolving beyond places to shop and, instead, becoming destinations delivering experiences. “As Attacq, we have invested heavily in ensuring that the customer experience at any one of our centres is smart, safe, and uniquely interactive. We want our centres to be spaces of excitement, connection, and creativity, and we strive to ensure we are establishing lasting, curated and customer- responsive environments,” he adds.
This approach is reflective of what Waterfall Management Company’s Vorster calls the Urban Design Framework. “Conceptualised with our partners, this framework guides our residential, commercial, and lifestyle developments in a harmonious fashion. It is derived from continuous market research, as well as feedback from our residents and tenants to ensure that Waterfall is always front of mind and an aspirational location,” says Vorster.
Clampett agrees. “Our tenants trust in what we are doing, and they buy into the communities we are creating in and around our precincts. This is one of the reasons many of them have opted to launch new concept stores and products at our centres.”
Tech-driven Innovation
“Our approach to retail is vastly different to that of other property developers. We maintain a close relationship with our tenants, co- creating and developing innovative experiences we believe will resonate with our shoppers,” says Clampett.
In the past, the retail mix was determined by gut feel and intuition. Today, with more data becoming readily available to retail teams, this initially opaque art has slowly grown into a sophisticated science, one Attacq seems to have mastered.
“At the Mall of Africa, for example, we have taken a slightly different approach and partnered with content creators with large social media followings, collaborating with them to develop bespoke experiences. The incredible and innovative Laduma Ngxokolo’s Maxhosa store and DJ Zinhle’s Era outlet at the mall, in addition to DJ Oskido’s Daruma restaurant at Waterfall Corner, all stem from these partnerships,” adds Clampett.
Voster concludes, “When undertaking any new development, we use the Urban Design Framework to ensure that the product we deliver is tailored to our community and their requirements, while also enabling our respective tenants to fulfil their goals sustainably.”
This means that Waterfall’s retail spaces are constantly evolving environments, rich with consumer- centric experiences, which will always reflect the needs of the community and the shoppers supporting them.
