community center
DEF 1: A community center typically offers a wider range of apparel and other soft goods than the neighborhood center. Among the more common anchors are supermarkets, super drugstores, and discount department stores. Community center tenants sometimes include off-price retailers selling such items as apparel, home improvement/furnishings, toys, electronics or sporting goods. The center is usually configured as a strip. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 5)
DEF 2: A shopping complex constructed around a junior department store or variety store. Such a center usually lacks a full-line department store. The average size is 150,000 sq.ft. of GLA. (ICSC’s Guide to Shopping Center Terms 1995, 22)
DEF 3: In addition to convenience goods and personal services community centers typically offer a selection of apparel and home furnishings. Anchors commonly consist of a junior department store and/or a large variety store in addition to one or more supermarkets. The size ranges from 100,000 to 300,000 sq.ft. of GLA and the land area from ten to thirty acres. (ICSC’s Guide to Shopping Center Terms 1995, 23)
convenience shopping center
DEF 1: Planned development in which the predominant retailing elements are devoted to providing day-to-day necessities. (ICSC’s Guide to Shopping Center Terms 1995, 28)
discount-anchored shopping center
DEF: A retail development in which a discount store is the major tenant in the development, with additional retail space usually consisting of smaller retail tenants. (ICSC’s Guide to Shopping Center Terms 1995, 38)
dumbbell-shaped (shopping center)
DEF: A double strip of stores placed face-to-face along a mall, with anchor stores placed at both ends of the mall, and with parking on all sides. The dumbbell is designed so that the anchors draw traffic along the mall in an effort to achieve maximum interchange of shoppers. (ICSC’s Guide to Shopping Center Terms 1995, 40)
enclosed mall
DEF: Malls (=traditional shopping centers) typically are enclosed with a climate-protected and climate-controlled walkway between two facing rows of stores.
factory outlet center
DEF: Usually located in a rural or occasionally in a tourist location, an outlet center consists mostly of manufacturers’ outlet stores selling their own brands at a discount. An outlet center typically is not anchored. A strip configuration is most common, although some are enclosed malls, and others can be arranged in a ‘village’ cluster. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 7)
SYN: outlet center
festival center
DEF: Festival centers are early forms of today’s entertainment centers. These projects – many of which were carried out by the Rouse Company – focus on restaurants and entertainment facilities complementing retail functions. In many cases they were used to revitalise downtown areas.
mall
DEF 1: The typical mall is enclosed, with a climate-controlled walkway between two facing rows of stores. The term represents the most common design mode for regional and superregional centers and has become an informal term for these types of centers. (vgl. ICSC’s Guide to Shopping Center Terms 1995, 75)
DEF 2: Climate-controlled walkway within a shopping center.
Mills Center
DEF: Mills centers, a format developed by the Mills Corporation in the United States, can be described as a hybrid of a superregional mall, factory outlet center, power center and entertainment focus. More specifically, the different components compromising a Mills center include off-price retailers, factory outlets, department store outlets (outlets operated by national or regional department store chains found in regional malls, stocking excess inventory and out-ofseason merchandise or special merchandise solely bought for the outlet store), category dominant stores and entertainment retailers. The Mills concept therefore represents a synergistic mix of value and entertainment based retailing, with a critical mass to extend its customer draw to a very large market area, i.e. about 100 miles. At the same time, it is attracting a significant tourist component. Existing Mills are some of the top tourist draws in their respective states. (vgl. Kircher 1997)
mixed-use center
DEF: These centers typically combine at least three revenueproducing uses from among retail, office, parking, restaurant, hotel, residential, and entertainment facilities. They may be built in suburban or urban areas. In downtown areas, where land costs are high, a multilevel or high-rise, single-mass design is commonly used to minimize the land area needed. (ICSC’s Guide to Shopping Center Terms 1995, 85)
neighborhood center
DEF: A neighborhood center is designed to provide convenience shopping for the day-to-day needs of consumers in the immediate neighborhood. According to The SCORE: ICSC’s Handbook on Shopping Center Operations, Revenues and Expenses, roughly half of these centers are anchored by a supermarket, while about a third have a drugstore anchor. These anchors are supported by smaller stores offering drugs, sundries, snacks and personal services. A neighbourhood center is usually configured as a straight-line strip with no enclosed walkway or mall area, although a canopy may connect the storefronts. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 4)
outlet center
DEF: see factory outlet center
power center
DEF 1: A power center consists of a number of category dominant retailers, usually three to five units as well as complementary stores and services with a typical size totaling 20,000 – 40,000 m² Gross Leasable Area (GLA) (with a trend towards much larger units). One of the significant differences between a Power Center and a traditional regional shopping centre is the ratio of anchor to specialty store space. Furthermore, the floor space of individual tenants in Power Centres are usually much larger than those found in traditional shopping centres. (vgl. Kircher 1993, 5)
DEF 2: A center dominated by several large anchors, including department stores, off-price stores, warehouse clubs, or ‘category killers’. Some of these anchors can be freestanding (unconnected). The center has only a minimum amount of small specialty tenants. (vgl. ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 7)
SYN: retail park (BE)
regional center
DEF: This center type provides general merchandise (a large percentage of which is apparel) and services in full depth and variety. Its main attractions are its anchors: traditional, mass merchant or discount department stores or fashion specialty stores. A typical regional center is usually enclosed, with an inward orientation of stores connected by a common walkway, and parking surrounds the outside perimeter. Regional centers range in GLA from about 400,000 to 800,000 sq.ft. (37.000 bis 75.000 m²). (vgl. ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 5)
retail park (BE)
DEF: see power center
shopping center
DEF: A shopping center is a group of retail and other commercial establishments that is planned, developed, owned, and managed as a single property. On-site parking is provided. The center’s size and function are generally determined by the market characteristics of the trade area served by the center. (vgl. ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 1)
specialty center
DEF 1: A center composed mainly of upscale apparel shops, boutiques and crafts shops carrying selected fashion or unique merchandise of high quality and price. These centers need not be anchored, although sometimes restaurants or entertainment can provide the draw of anchors. The physical design of the center is very sophisticated, emphasizing a rich decor and high-quality landscaping. These centers usually are found in trade areas having high income levels. (ICSC’s Guide to Shopping Center Terms 1995, 46)
DEF 2: Retail facilities merchandising high-quality merchandise, usually high-priced, primarily apparel and accessories but also including other comparison facilities such as jewelry, luggage, and leather goods; sometimes referred to as high-quality specialty shops. (ICSC’s Guide to Shopping Center Terms 1995, 47)
strip center
DEF 1: A strip center consists of an attached row of at least three retail stores, managed as a coherent retail entity, with on-site parking in front of the stores. GLA for the center must be at least 10,000 sq.ft. Open canopies may connect the storefronts, but a stripcenter does not have enclosed walkways or malls linking the stores. A strip center may be configured in a straight line, or have an ‘L’ or ‘U’ shape. (ICSC’s Guide to Shopping Center Terms 1995, 127)
superregional center
DEF: Similar to a regional center, but because of its larger size (over 75.000 m²) a superregional center has more anchors, a deeper selection of merchandise, and draws from a larger population base. As with regional centers, the typical configuration is an enclosed mall, frequently with multilevels. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 5)
theme center
DEF: This center typically employs a unifying theme that is carried out by the individual shops in their architectural design and, to an extent, in their merchandise. The biggest appeal of this center is to tourists; it can be anchored by restaurants and entertainment facilities. The center is generally located in an urban area, tends to be adapted from an older, sometimes historic, building and can be part of a mixed-use project. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 7)
urban center
DEF: As contributors to the revitalization of downtown areas, urban centers are usually part of a city’s urban renewal program. They usually include a pedestrian mall or covered walkways (particularly in areas of climate extremes) and are built right in the traditional shopping district. Characteristically, urban centers feature a parklike atmosphere, absence of cars, freedom to move about among a variety of retail stores, and, in many cases, a food court. (ICSC’s Guide to Shopping Center Terms 1995, 137f)
urban entertainment center
DEF: Urban entertainment centers concentrate on entertainment facilities and are often part of a city’s urban-renewal program. Such centers are of urban character but need not necessarily be located in downtown areas.
ABBR: UEC
vertical mall
DEF: A vertical-shaped center is a high-rise mall, which has escalators and elevators to carry people from floor to floor. Frequently the stores are placed around a central atrium. Such centers are usually in downtown areas or close to other high-density developments. (ICSC’s Guide to Shopping Center Terms 1995, 140)
SYN: vertical-shaped center
vertical-shaped center
DEF: see vertical mall
big box (AE)
DEF: ‘Big box’ describes a large retail store in a no-frills building usually with a discount price policy. Such stores are typically situated at peripheral locations.
SYN: power store
catalog showroom
DEF: Establishment primarily engaged in the retail sale of general lines of merchandise such as homefurnishings, housewares, jewelry, radios, televisions, stereo equipment, and sporting goods. Inventory is stored at the location but not usually on display. Customers order using a catalog and wait while the merchandise is being delivered from the stock room. (Census of Retail Trade 1992, Definitions of Industries, SIC 539 pt.)
category dominant store
DEF: see category killer
category killer
DEF: A category killer is a sub-category of the power retail format that offers a superior selection of merchandise at highly competitive prices with very limited customer services. Toys-R-Us, which is rapidly expanding throughout the world, is a typical example of this store category. A traditional toy store normally ranges in size between 100 and 300 m² whereas a Toys-R-Us unit has between 3,000 and 4,000 m² and is operated like a warehouse store. In general, category killers range in size between 2,000 and 8,000 m². They are the leading mode of distribution for their class of merchandise in the markets they serve. (vgl. Kircher 1993)
SYN: category dominant stores
cut-price store
DEF: see discount store
department store
DEF: Retail stores normally having 50 employees or more, having sales of apparel and soft goods combined amounting to 20 percent or more of total sales, and selling each of the following groups of merchandise: Household linens, dry goods, furniture, homefurnishings, appliances, and radio and TV sets; A general line of apparel for the family. The employment and lines of merchandise sold in leased departments are both taken into account when classifying a department store. To qualify as a department store, sales of each of the lines listed above must be less than 80 percent of total store sales. An establishment with total sales of $10 million or more is classified as a department store even if sales of one of the merchandise lines listed above exceed the maximum percent of total sales, provided that the sales of the other group is $1 million or more. Relatively few stores are included in this classification as a result of this special rule and most of those which are would otherwise have been classified in the apparel group (SIC major group 56). (Census of Retail Trade 1992, Definitions of Industries, SIC 531)
discount department store
DEF 1: Discount department stores range in size from 30,000 square feet to 140,000 square feet depending on the age of the store and the size of the market area. These stores typically have 30 or more departments and relatively low prices due to a lower level of service than traditional department stores, and also due to continual improvement of operational efficiency. They usually carry between 40,000 to 80,000 stock keeping units (sku’s), i.e. separate items of merchandise. These stores encompass for example such U.S. national chains as Wal-Mart, Kmart and Target. (vgl. Stone 1995, 25)
DEF 2: Establishments which satisfy the criteria of a department store and usually: Convey the image of a high-volume, fast turnover outlet selling a variety of merchandise for less than conventional prices; Provide centralized check-out service; Merchandise is normally sold through self-service with minimal customer assistance provided in any department; Do not have a catalog order service. These stores often sell: Soft goods which are usually their own corporate brands or are unbranded; Hard goods which are primarily nationally advertised brands; Appliances which are serviced by another company. (Census of Retail Trade 1992, Definitions of Industries, SIC 531 pt.)
SYN: discount general merchandiser, mass merchandising department store
discount general merchandiser
DEF: see discount department store
discount store
DEF: A retail store selling at lower than usual price, e.g. manufacturer’s suggested retail prices, usually with streamlined and cost-effective way of operation.
SYN: cut-price store
factory outlet
DEF: A store offering merchandise direct from the manufacturer at prices lower than standard retail. These stores are often contained in centers that specialize in factory outlets. (ICSC Keys to Shopping Center Management Series “Leasing Strategies” 1992, 18)
hypermarket
DEF: This retail format was invented in France and later copied in other European countries. In the US and Canada, however, hypermarkets, in the European sense, did not take hold, despite repeated attempts by well known retailers (Oshawa Group in Canada, WalMart in the US). Instead, the hypermarket has been ‘Americanized’ and turned into a supercenter. (vgl. Kircher 1993)
junior department store
DEF: A store that, in both size and selection of merchandise, can be classified as being between a full-line department store and a variety store. (ICSC’s Guide to Shopping Center Terms 1995, 65)
kiosk
DEF: Booth located in the common area of the center or mall and generally housing small-item merchandise or services; for example: hosiery, photo developing. (ICSC’s Guide to Shopping Center Terms 1995, 66)
mass merchandising department store
DEF: see discount department store
membership warehouse club
DEF: see warehouse membership club
mom-and-pop store
DEF: A store whose owners own only that single store. (ICSC’s Guide to Shopping Center Terms 1995)
offprice store
DEF: A store selling brand names at low prices in a low-service setting. (ICSC Keys to Shopping Center Fundamentals Series “Retailing” 1996, 2)
self-service discount department store
DEF: A mixed-merchandise store operating on an – at least – soft discount basis. Merchandise is sold through self-service with minimal customer assistance provided in any department. Well-known SSDDS’s in the U.S. are Wal-Mart, Kmart and Target, which until recently did not sell food, but are now developing into supercenters with large food departments.
ABBR: SSDDS
SYN: self-service department store
specialty store
DEF 2: A retail store offering a great choice of a defined range of goods (e.g. shoes, apparel, books)
DEF 1: A retail store with a highly specialized assortment out of a defined range of goods (e.g. socks, ties).
standalone
DEF: A standalone is a freestanding power store, typically in a peripheral location.
supercenter
DEF: A supercenter is the ‘Americanized’ form of a hypermarket, combining food and non-food, but in addition also specialty units. This concept is being successfully implemented by WalMart. (vgl. Kircher 1993)
SYN: superstore
supermarket
DEF: Establishments belonging to the major group of food stores and primarily engaged in the retail sale of a wide variety of grocery store merchandise. Customers normally make large, volume purchases from these stores. (Census of Retail Trade 1992, Definitions of Industries, SIC 541 pt.)
variety store
DEF: Establishments primarily engaged in the retail sale of a variety of merchandise in the low and popular price ranges. Sales usually are made on a cash-and-carry basis, with the open selling method of display and customer selection of merchandise. These stores generally do not carry a complete line of merchandise, are not departmentalized, do not carry their own charge service, and do not deliver merchandise. (Census of Retail Trade 1992, Definitions of Industries, SIC 533)
vertical marketing systems
DEF: A company that manufactures, wholesales and retails the product. (ICSC Keys to Shopping Center Fundamentals Series “Retailing” 1996, 2)
warehouse club
DEF: see warehouse membership club
warehouse membership club
DEF 1: A WMC is a sub-category of the power retail format, offering a limited assortment of leading brands in a great number of major retail categories, sold in large quantities, at the lowest possible price, with no service provided to the customer. They tend to show a particular strength in the grocery sector. The name Warehouse Membership Club refers on the one hand to the layout and design of the stores in a warehouse manner with a semi-industrial design and on the other hand to the individual membership in the club which has to be purchased annually by the customer, on the basis of meeting certain employment criteria which tend to apply to 60 to 70 % of households. Initially, some emphasis was placed on a ‘wholesale’ function, focusing on the supply of a selected number of merchandise items to small businesses and offices. However, the retail component of their business has been so much more successful that it has been receiving the greatest attention for further development, making up for 85 % of WMC sales already in 1993. The average size of WMC’s in 1993 was 11,000 to 12,000 m² on one level, the average number of Stock Keeping Units (SKU’s) was 3,000 to 4,000 (as compared to a typical supermarket with about 20,000 SKU’s). Merchandise in WMC’s is frequently offered in large sizes or multi-packs. It is displayed in packing cartons, on pallets and steel racks, separated by wide isles which allow restocking by machine. The ‘Big Five’ of WMC’s are Sam’s (WalMart), Pace (K-Mart), Costco, Price Club and B.J.’s (Waban). (vgl. Kircher 1993)
DEF 2: Establishments primarily engaged in the retail sale of general lines of merchandise such as groceries; automotive tires, batteries, parts, and accessories; audio and video equipment; household appliances; office equipment and supplies; apparel; and books through warehouse-based operations. These establishments are sometimes known as membership warehouse clubs. (Census of Retail Trade, Definitions of Industries 1992, SIC 539 pt.)
ABBR: WMC
SYN: price club, wholesale club, membership warehouse club, warehouse club
anchor (store)
DEF: An anchor is a major store (usually a chain store) in a shopping center that has substantial economic strength and can draw shoppers to a particular shopping center. In regional shopping centers, the anchors are usually large full-line department stores with wellknown names. Thus, they serve as primary traffic generators. Other anchors might be supermarkets, restaurants and discount department stores, among others. These stores occupy a large percentage of the square footage area within the shopping center and usually have more power in designing leases that give them favorable clauses than do their smaller cotenants. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 11)
SYN: major tenant, key tenant
catchment area
DEF 1: The geographic area from which a center draws its shoppers. Limits that define a trade area may be distance, natural barriers such as rivers, or man-made obstructions such as a highway that is difficult to cross. (ICSC’s Guide to Shopping Center Terms 1995, 134)
DEF 2: The geographic area from which the sustaining patronage for steady support of a shopping center is obtained. The extent of the trade area is governed in each instance by a number of factors, including the matter of the center itself, its accessibility, the extent of physical barriers, the location of competing facilities, and limitations of driving time and distance. (ICSC’s Guide to Shopping Center Terms 1995, 135)
SYN: trade area, market area
center mayor
DEF: The merchant who is recognized by peers as an informal leader among the shopping center’s tenants. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 3)
central business district
DEF: Historically, the main shopping or business area of a town or city. (ICSC’s Guide to Shopping Center Terms 1995, 17)
ABBR: CBD
common area
DEF: Area of a property that is or may be used by all of the owners or tenants of the property. (ICSC Keys to Shopping Center Fundamentals Series “Leasing” 1996, 33)
comparison goods
DEF: Merchandise offered by department stores, apparel, furniture, and other stores in sufficient variety to permit a wide range of choice and comparison between the merchandise offered by one store and another. Comparison-shopping trips are made less often than shopping trips for convenience items. (ICSC’s Guide to Shopping Center Terms 1995, 23)
SYN: shopping goods
convenience goods
DEF: Goods from drug, grocery, liquor, and hardware stores; services from beauty, barber, and bake shops; and services from laundry and dry cleaning establishments. (ICSC’s Guide to Shopping Center Terms 1995, 27)
cross-shopping
DEF: Purchasing complementary items at different stores or in different departments of a single store. (ICSC’s Guide to Shopping Center Terms 1995, 31)
DEF: one-stop shopping
DEF 1: DSTM includes the kind of goods sold in shopping centers, such as apparel, shoes, jewelry, gifts and other merchandise usually found in department stores and shopping centers. DSTM excludes personal services, entertainment, food service, drugs, groceries, and automotive, all of which may be found in shopping centers. DSTM sales potential is a component of a center’s share of market calculation. (ICSC’s Guide to Shopping Center Terms 1995, 36)
DEF 2: DSTM includes merchandise normally found in variety, apparel, furniture, and appliance stores, and in other outlets such as jewelry, sporting goods, stationery, luggage, and camera stores, as well as department stores. (ICSC’s Guide to Shopping Center Terms 1995, 36)
ABBR: DSTM
SYN: comparison goods, shopping goods
door busters
DEF: Small groups of sharply reduced merchandise, with incomplete assortments. (ICSC’s Guide to Shopping Center Terms 1995, 39)
food court
DEF: The food court is an area of the shopping center that is devoted to permanent fast-food vendors offering a range of foods. Among the most popular food categories featured in most food courts are: pizza, Chinese food, hamburgers, chicken, Mexican food, pastries and croissants, ice cream and yogurt, salads. The court is served by a common seating area. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 11f)
gross leasable area
DEF 1: Normally the total area on which a shopping center tenant pays rent. The GLA includes all selling [space] as well as storage and other miscellaneous space. (ICSC’s Guide to Shopping Center Terms 1995, 54)
DEF 2: The total floor area designed for tenant occupancy and exclusive use, including basements, mezzanines, and upper floors. It is measured from the center line of joint partitions and from outside wall faces. In short, GLA is that area on which tenants pay rent; it is the area that produces income. (ICSC’s Guide to Shopping Center Terms 1995, 55)
ABBR: GLA
hard goods
DEF: That class of merchandise, sometimes referred to as hardlines, composed primarily of durable items, such as hardware, machines, heavy appliances, electrical and plumbing fixtures, and farming machinery and supplies. (ICSC’s Guide to Shopping Center Terms 1995, 57)
local tenant
DEF: A retail tenant who operates one ore more stores exclusively in a local market. (ICSC’s Guide to Shopping Center Terms 1995, 71)
low-end (merchandise)
DEF: Merchandise that has been sharply reduced from original prices, used for sidewalk, moonlight, midnight, and similar limitedperiod sale events. (ICSC’s Guide to Shopping Center Terms 1995, 72)
market area
DEF: The area surrounding a shopping center from which the center draws its customers. (ICSC Keys to Shopping Center Fundamentals Series “Management” 1996, 43)
SYN: trade area, catchment area
merchandise mix
DEF 1: The variety and categories of merchandise offered by the retail tenants assembled in a particular shopping center. (ICSC Keys to Shopping Center Fundamentals Series “Management” 1996, 44)
SYN: tenant mix
DEF 2: A merchandise mix is a group of products that are closely related because they satisfy a class of needs, are used together, or are sold to the same basic market targets. It is made up of a series of demand-related merchandise items, which are specific versions of a product that has a separate designation. (ICSC’s Guide to Shopping Center Terms 1995, 82)
merchants’ association
DEF 1: A merchants’ association is a not-for-profit corporation organized to conduct merchandising programs, community events, shopping center decoration programs, advertising programs, and publicity programs, and to coordinate joint member cooperative advertising and marketing functions, events, and endeavors for the general benefit of the shopping center. The association acts as a clearinghouse for suggestions, ideas and programming of merchandising events, and it serves as a quasi-court for handling complaints and differences of opinion. (ICSC’s Guide to Shopping Center Terms 1995, 83)
DEF 2: A not-for-profit, independent corporation with a board of directors who vote and sign checks. The members pay dues. Monthly meetings and an annual report are required. (ICSC Keys to Shopping Center Fundamentals Series “Management” 1996, 44)
minimum rent
DEF 1: The basic rent a tenant pays; usually expressed as a price per square foot. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 4)
DEF 2: Rent that is not based on tenant’s sales. (ICSC Keys to Shopping Center Management Series “The Lease and ItsLanguage” 1992, 25)
SYN: base rent
national tenant
DEF: A retailer who operates a chain of stores on a nationwide basis. (ICSC Keys to Shopping Center Management Series “Leasing Strategies” 1992, 19)
percentage rent
DEF 1: Rent the tenant pays; usually based on a percentage of a store’s sales. (ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 4)
primary market
DEF: The geographic market from which a center’s predominant shoppers and/or sales come. (ICSC’s Guide to Shopping Center Terms 1995, 102)
regional tenant
DEF: A retailer who operates stores in a particular region of the country. (ICSC Keys to Shopping Center Management Series “Leasing Strategies” 1992, 19)
sales area
DEF: Rentable area minus storage space. The proportion of rentable store area devoted to sales varies among store types and among stores of the same type, so that calculations of sales or rent are more uniform if made on the basis of total store area. (ICSC’s Guide to Shopping Center Terms 1995, 117)
secondary market
DEF 3: The portion of a trade area that supplies additional support to a shopping center beyond that obtained from the primary zone. Secondary zone patronage for a shopping center is primarily generated by the comparison shopping stores in the center; convenience shopping is primarily done by secondary zone residents at other neighborhood centers closer to home. (ICSC’s Guide to Shopping Center Terms 1995, 119)
share of market
DEF: An estimate of the percentage of a geographic market’s sales potential that a center receives in sales. (ICSC’s Guide to Shopping Center Terms 1995, 121)
shopping goods
DEF: Goods from variety, department, and general merchandise stores: toys, hobbies, sporting goods, small appliances, household, textile, garden and lawn supplies, luggage and leather, music, books, housewares, children’s apparel, candy, radios, and televisions. (ICSC’s Guide to Shopping Center Terms 1995, 122)
SYN: comparison goods
site
DEF: A specific tract of land proposed for center development, exhibiting qualities of size, shape, location plus accessibility, and zoning, and suited for the development of a center. (ICSC’s Guide to Shopping Center Terms 1995, 123)
tenant mix
DEF 1: Tenant mix is the distribution of store types within a retail complex.
DEF 2: The percentages reflecting the proportions of square footage and/or number of leasable units in a particular merchandise category in the center. (vgl. ICSC Keys to Shopping Center Fundamentals Series “Leasing” 1992, 47)
DEF 3: The types and price levels of retail and service businesses within a shopping center. (vgl. ICSC Keys to Shopping Center Fundamentals Series “Overview” 1992, 3)
SYN: merchandise mix
tertiary market/zone
DEF: An outlying segment of the trade area that can be identified in certain circumstances as contributing a recognizable share of sales volume to a shopping center. This zone is designated when there appears to be a tributary area extending beyond the normal limits of the secondary zone, usually in a specific direction. (ICSC’s Guide to Shopping Center Terms 1995, 132)
SYN: inflow market
trade area
DEF: see catchment area
trade area zones
DEF: Those segments into which a trade area is normally divided in order to better illustrate variations in the probable impact of proposed shopping centers as regards distance, travel time, and competitive facilities. Most frequently, trade areas are divided into primary and secondary zones. In addition, a tertiary zone is sometimes indicated. (ICSC’s Guide to Shopping Center Terms 1995, 135)
traffic
DEF: The number or volume of shoppers who visit a shopping center during a specified period of time. (ICSC Keys to Shopping Center Management Series “Leasing Strategies” 1992, 19)
vacancy rate
DEF: The percentage of leasable retail space in a shopping center that is unleased at any given moment in time. (ICSC Keys to Shopping Center Fundamentals Series “Leasing” 1992, 47)
