Benchmarking Case Study
Land Securities
Our first project for Land Securities dates from the late 1990s with our work on the White Rose Centre. Since 2004 we have been working with the Land Securities’ shopping centre portfolio to both benchmark and track a series of agreed key performance indicators (KPIs).
These KPIs have been refined during the course of the programme and are now used in conjunction with other primary data to provide input into the annual business planning process. Another model developed for Land Securities uses these KPIs and allows for sensitivity analysis on the individual components to assess the impact of changes in one variable on sales projections. The programme involves more than 10,000 shopper interviews each year across some 20 centres. From this work benchmarks have been developed for the Land Securities portfolio, whilst additional benchmarks are also available for particular subgroups such as their factory outlet centres. These benchmarks can in turn be measured against the Business Blueprints Bbenchmark.
Each centre is unique and so the KPIs from each study provide a profile which can be both compared to previous research at the scheme as well as putting the results in the context of the benchmark average.
