CHRISTMAS wishes for tenants and management at Pacific Place came true after Swire Properties launched a multi-million-dollar marketing campaign to boost consumer spending in December last year.
Swire's expensive but successful marketing project, 'All I want for Christmas is Pacific Place', is among six of the best promotion campaigns and has been nominated for the HKMA/TVB Award for Marketing Excellence.
The campaign helped boost spending in the Admiralty complex by 21 per cent for December compared with the same period in 1993. Tenants' turnover had also increased by 21 per cent, enabling Swire Properties to collect more rent, said Paul Husband, the marketing manager.
'The most outstanding part of the campaign is the 21 per cent rise in sales and turnover from all 130 shops and 30 restaurants in the 780,000-square-feet centre,' Mr Husband said. 'Rents at Pacific Place are charged according to a tenant's turnover, so the campaign was designed to benefit tenants and, indirectly, Swire Properties.
'Most landlords have a fixed rental price per square foot but Swire Properties has a base rent.
'Once a tenant's turnover reaches the equivalent of the base rent, we take a percentage of the entire turnover.' Rents were calculated on a monthly basis and the percentage of a tenant's turnover Swire Properties collected varied between shops, he said.
