The Pines Elanora Shopping Centre on the Gold Coast has posted a sales result that’s almost five times the nation’s current growth rate on the back of a major facelift completed recently.
While Australia’s retail sales growth has slumped to a near three-year low of 3.3%, the newly expanded The Pines Elanora has recorded a 15.4% increase in retail sales, based on a square metre calculation.
“When you have a national retail economy that’s heading south and driving confidence down, posting a result like this reinforces our community-centric business model,” said Hilary Jacobs, Centre Manager for The Pines Elanora.
“Our mixed fashion, fashion accessories and beauty are doing exceptionally well at the moment, which is a ringing endorsement of our strategy to continue developing these categories.
“As more and more young families do their weekly shop at the centre, we’re planning to diversify our offering even further so customers don’t need to travel elsewhere to get what they need,” she said.
Queensland’s latest retail data has also sent shivers through the local economy, with this week’s ABS figures showing a 0.4% decline in sales for February 2016.
But in stark contrast, The Pines Elanora, one of Queensland’s top three performing shopping centres according to size, is celebrating bumper results.
“Based on customers through the door, we’re on track for our best Easter holiday period in the past decade. Combine this with a pretty consistent 25% increase in foot traffic in past months and our recent expansion is going great guns,” said Ms Jacobs.
“The centre has had a massive
facelift, brought in close to 20 new retailers and introduced a new fresh food hub. From the holiday results, it’s exactly what the locals needed.
“It also proves independent centres like The Pines Elanora can hold their own against other major shopping complexes owned by multi-nationals,” she said.