Vukile Property Fund, a significant player both in South Africa and on the international stage, continues to set the benchmark in the listed property sector with its data-driven approach. Attracting 220 million shopper visits annually across its properties in South Africa and Spain, Vukile leverages advanced data analytics to enhance the shopping experience, support tenant success, and deliver sustained growth for all its stakeholders.
Pioneering data-driven retail management
Over the past 20 years, Vukile Property Fund has established itself as a leader in South Africa’s retail property sector. The key to Vukile’s success lies in its innovative use of data tools and technologies, enabling the company to understand the needs of local communities better than anyone else.
“Our in-depth data allows us to slice and dice information depending on our focus,” says Marijke Coetzee, Vukile’s Director of Marketing and Communications. “We have multiple levels of information from various sources, including mobile, internet, geo-positioning technologies, psychographics, and other resources.”
Advanced tools for comprehensive insights
Vukile’s early adoption of fibre and extensive Wi-Fi coverage across its shopping centres sets it apart. By installing access points throughout its malls, Vukile gathers rich data on shopper journeys, providing detailed insights into shopper behaviour. This data is shared with property management teams, enabling informed decisions that optimise tenant performance and enhance the shopping experience.
These tools give Vukile detailed data on property and shopper origins and destinations, allowing the analysis of catchment areas, competitor malls and shopper movement patterns. Real-time data tracks movement within malls, offering insights into shopper behaviour, conversion rates, and individual psychographics. Geo-fencing enables in-depth area analysis, helping Vukile optimise tenant placement and marketing strategies. Vukile also benchmarks trading statistics, comparing tenant performance within the same business line and against competitors.
Free shopper Wi-Fi and dynamic data analysis
Through the captive portal of its free shopper Wi-Fi, Vukile gathers over 25 individual data points. Shoppers log in by answering tailored questions, providing valuable insights into their preferences and behaviours. This dynamic environment allows Vukile to continuously refine its customer-centric approach. “Our extensive analysis of shopper behaviour and the factors driving evolving retail trends ensures our stakeholders benefit from unique insights,” confirms Coetzee.
Research Insights for tenants
Vukile’s data analysis covers various levels, including catchment, competition, stops, dwell time, income, trading stats, and tenant analysis. This rich data provides detailed shopper journeys, enabling Vukile to share unique statistics and in-depth analysis reports with their tenants.
Optimising tenant support and mix
Vukile enhances tenant support by analysing physical shopper engagement. Tenant performance and shopability data is overlaid and that assists Vukile in advising tenants to tailor their strategies to convert shopper interest into sales, when necessary. “Getting a great tenant mix is a scientific process if you have access to the right data and know how to use it,” says Itumeleng Mothibeli, Vukile’s Managing Director Southern Africa. “You need to get the mall layout correct to make it more convenient for shoppers and to assist your tenants.”
Building communities through data-driven decisions
“Vukile owns retail property assets valued at a total of R40 billion across South Africa and in Spain,” explains Coetzee, “While visitors have different needs, we apply the same principle of understanding and engaging with communities across all territories. The detailed data Vukile uses ensures we know our communities’ needs, driving everything from the mall’s tenant mix to our marketing and promotions.”
Commitment to ethics and good governance
Vukile prioritises compliance and data protection, ensuring adherence to POPIA and GDPR regulations. By owning its data and implementing strict IT policies, Vukile protects shopper data privacy and ensures secure data handling. “No personalised data is ever shared; we only use anonymous data for trend analysis and similar insights across our ecosystem,” says Coetzee. “Our advanced firewall technology ensures we provide the highest level of data protection.”
Creating value and driving growth
Vukile uses best-in-class data processes and systems to understand the needs of its customers and tenants better than anyone else. This multi-faceted consumer behaviour research, combined with a deep understanding of the communities served, sets Vukile apart. There’s never been a better time to be part of this resoundingly strong, sustainable business.
