INTRODUCTION | INGENIOUS VALUE CREATION & GROWTH STRATEGIES | IN CONVERSATION | INSIGHTS INTO GROWTH | INSPIRING LEADERSHIP
INTEGRATING PEOPLE & SOCIETY | INVESTOR RELATIONS | IN REVIEW | INCREASING DOMINANCE | IN DETAILS
The objective for Junction 8 is to optimise its financial performance and strengthen its market positioning as the leading suburban mall in the central region of Singapore.
Junction 8 is located in the high-density residential area of Bishan and is well-served by both Bishan Mass Rapid Transit (MRT) and the Bishan bus interchange. This prime suburban mall incorporates two basement car park levels and five retail storeys. The mall has more than 800,0001 people residing in its main catchment area.
Positioned for the middle-income and family-oriented segments of the retail market, the mall targets residents in surrounding housing estates, office workers within the vicinity and students from nearby schools. However, its excellent accessibility by public transport extends its reach beyond this. With the completion of its asset enhancement works, the new Raffles Junior College and the planned National Library Board in the vicinity, Junction 8 is poised to capture even more shoppers and anchor its position as a one-stop shopping, dining and entertainment destination.
Asset Enhancement Initiatives
A major asset enhancement programme was successfully completed at Junction 8 last year. The Level 3 open plaza was renovated to provide a new, exciting and landscaped venue for events, concerts and lifestyle activities which helps to channel shoppers’ traffic to the upper floors of the mall. The plaza has a back projection screen which can run movie shows and football matches for families and friends. It also boasts a modern playground which provides a fun area for children.
Tenancy Mix
2005 brought a number of new retailing concepts to Junction 8. These included Double Index and Dano in ladies’ fashion, new jewellers Citigems and Soo Kee Jewellery, Primarera on the main walkway and Haagen Dazs on Level 3. In addition, two brand new kiosks, 2.ft Orthotics on Level 3 and Bargain City, opened in the mall’s youth zone.
A number of existing retailers also refreshed their store designs, resulting in a new look for Bistro Delifrance, Bysi, Charles and Keith, Silvera, Goldheart, AR Money Changer and Ero Lingerie.
promotional and marketing activities
Aggressive thematic promotions and artistes’ appearances increased traffic in 2005 to over 21.0 million, with an average of 1.75 million shoppers per month. The open plaza at Level 3 was re-launched as ‘Top of the 8’, after landscaping and the addition of a playground, with artistes’ appearances and tenants’ party. ‘Community Sunday’ also made a comeback for a three-month period as part of the launch campaign with all 35 booths at the ‘Entrepreneur Mark8t’ filled with students and budding entrepreneurs.
Other events included the ‘Most Beautiful Mum’ finals which attracted 35.0 percent more shoppers than in the previous year, and a new programme called ‘Wacky Waggy Fashion Fun’ in which ㄋowners and their dogs promoted the latest fashion during the Great Singapore Sale.
At Christmas, Junction 8 achieved two ‘Firsts’: we were the first to wrap The Straits Times in a Christmas gift-paper-cum-2006-calendar, which was well received by shoppers; and we were the first to collaborate with SBS Transit to extend the operating hours of the buses serving Junction 8 to 2.00 am on 18 December 2005. The latter resulted in the highest-ever traffic for a single event, with over 100,000 shoppers, a 45.0 percent increase in traffic. Tenants enjoyed superb increases in sales ranging from 20.0 to 150.0 percent for some.
