Market Hall's Impact Comparable to that of an Entire City Centre
Market Hall Rotterdam was analysed four times by market research company Strabo over the last three years. Its director Hans van Tellingen now presents the facts and figures as a reply to critics who have called the covered market a tourist trap.
Based on facts, however, Market Hall is a continuous success, a building that is comparable in terms visitors to a mid-size city centre. The building reaches one of the highest scores by visitors and attracts a small majority of locals. Strabo director Hans van Tellingen describes the building's impact in superlatives: “In essence, Market Hall is a success. A big success. A proven success. … I dare to say that it is even the best new shopping centre of the century."
Strabo summarised the statistics and analysis in a series of articles in retail publications.
- Each week the building is visited by 150,000 people, which results in a 'net visitor' amount of eight million per year
- 33% of the visitors are from Rotterdam, 20% from the Rotterdam metro area (Rijnmond), with the remaining 47% from the rest of the Netherlands and abroad
- 56% of visitors earn an above average income, whilst 33% of visitors earn in the low income range. Market Hall attracts visitors from a wide range of economic groups
- Most visitors come in pairs; the average group size is 1,84
- Half of the visitors come to Market Hall as a destination visit; the rest are strolling for leisure
- An average visit to Market Hall takes 45 minutes or more. This is, again, comparable to that of visits to city centres
- 37% of visitors come to visit the market stalls; 10% come for the stalls and the gastronomy; 9% come exclusively for the shops; 11% come solely for the supermarket at the lower level
- 76% of all visitors on average spend money whilst visiting Market Hall; this percentage continues to rise. (In 2015 this figure was 60%)
- The average visitor spends 17Euro each visit
- The average weekly turnover of Market Hall is 1,3 million Euro. The annual turnover is approximately 63 million Euro. 29% of this turnover is reached at the stores, 18% at the restaurants, and 53% at market stalls. The critique that the stalls are not successful is not supported by these figures
- Visitors are positive about the accessibility the general feel of the building, the choice, and the quality of goods available. Criticisms include complaints about the busyness and the number of seats, toilets, and ATMs
Strabo uses a measurement called the 'Net Promoter Score' (NPS), a management tool that is used to gauge the loyalty of a firm's customer relationships. It serves as an alternative to traditional customer satisfaction research measurements, and is correlated with revenue growth. NPS has been widely adopted with more than two thirds of Fortune 1000 companies using the metric.
Market Hall's NPS is an astonishing +28, a score which, according to Strabo, has 'never before' been reached. Most Dutch shopping centres achieve net promoter scores in the negatives; it is considered best practice to be at least not negative.
According to Strabo, Market Hall is additionally a great engine for the entire neighbourhood. The outdoor market benefits greatly as on market days 47% of visitors also visit the outdoor market whilst 32% of the outdoor market visitors also visit Market Hall. Prior to the completion of Market Hall, the Netherlands Board of Tourism and Convention counted an average of 350,000 visitors to Rotterdam per year. Since 2015, that figure has risen to more than 4 million visitors to the city per year.
Strabo director Hans van Tellingen is not shy of superlatives in his summary of the building's statistics, summarizing it thusly:
"Not only is the building iconic, but also the functioning is more than fine. There is more attention towards dealing with the side effects of its success than that problems need to be solved because it would not work. Market Hall is one of the best developments that the Netherlands' retail has ever seen. I dare to say that it is even the best new shopping centre of the century. Or is it a gastronomy centre? Or a combination of shopping and gastronomy centre? Who cares. Market Hall is the example of successful 'blurring.' This is a grequently used container term explaing, in essence, the fusion of shopping and gastronomy spending. Fine. As long as the money rolls."
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