Frasers Property Australia’s retail portfolio is Australia’s top performer in terms of customer satisfaction, according to the 2024 Shopper Sentiment Report by Prescient Research.
Using the Net Promoter Score+ (NPS+) metric, a methodology developed by Prescient Research and tailored to suit retail landlords and physical places, Frasers Property achieved the highest result for any portfolio, more than 30 points or 15% above the neighbourhood centre benchmark.
For their individual centre typology, Eastern Creek Quarter (ECQ) and Ed.Square Town Centre, both in Sydney, were the country’s top performing centres based on NPS+.
David Grant, Research Director, Prescient Research said: “Congratulations to the Frasers Property retail team. Each of the Frasers Property retail centres are very positively viewed by their shoppers, with Ed.Square and ECQ taking out their respective size categories. The awarding of Frasers Property as the highest portfolio-level NPS+ in Australia is well deserved.”
NPS+ measures customer satisfaction with retail centres and identifies opportunities to improve the customer experience to increase spend, visitation and advocacy. More than just a ‘likelihood to recommend’, it includes shopper satisfaction, likelihood to return and whether customers view a retail centre as better than its competitors.
Eastern Creek Quarter, NSW
The outcome of the 2024 NPS+ survey is an important validation of Frasers Property’s retail strategy, says Felicity Armstrong, General Manager – Retail Investments, Frasers Property Australia.
“We place a great deal of emphasis on curating and tailoring a retail offer to reflect the local communities our centres serve. It’s a bespoke approach which means no two Frasers Property centres are the same, but each plays a distinct and valuable role at the local level,” said Armstrong.
“Our NPS+ results validate the way we approach the creation and curation of our centres, including how we manage, maintain and care for our centres to meet locals’ needs with thoughtfully considered activations and strategic programs. This has a big influence on customer satisfaction and loyalty, which directly benefits our tenants too,” she said.
The 2024 Shopper Sentiment Report by Prescient Research analysed responses from a national sample comparing 123 retail centres with 18 different landlords. The insights uncover how shoppers see retail centres performing today, and what could be actioned to increase their spend, visitation and advocacy in the future.
