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Alexander Babbage Shopping Center Industry Social Media Benchmark

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Alexander Babbage Shopping Center Industry Social Media Benchmark Shopping Center Social Media Benchmarks Year-End 2013 REPORT CREATORS Alexander Babbage continually monitors social media activity and consumer behaviors in the shopping center industry with benchmarks published annually. For more information about comparing your center or portfolio to benchmarks, contact: Alan McKeon at 404-961-7602 or [email protected] Charlotte Sykes at 404-961-7603 or [email protected] Kyle Kirchhof at 404-961-7615 or [email protected] Alexander Babbage, Inc. is an Atlanta based full-service research firm specializing in experiential research for destinations including shopping centers, professional sports teams, retailers, restaurants, the arts and financial institutions. It has the deepest experience and most extensive benchmark set among private research providers and is the shopping center industry’s leading provider of market and shopper research. The Social Media database compares 1,776 shopping centers of 300,000 square feet or more in the United States including Alaska, Hawaii and Puerto Rico. Data and counts are effective as of December 2013. © 2014 Alexander Babbage, Inc. All Rights Reserved 1 www.alexanderbabbage.com Shopping Center Social Media Benchmarks Year-End 2013 Contents Summary Analysis ......................................................................................................................................... 3 In This Report ................................................................................................................................................ 4 Database Synopsis ........................................................................................................................................ 4 Findings ......................................................................................................................................................... 5 Facebook Penetration ................................................................................................................................... 5 Facebook Likes .............................................................................................................................................. 6 Twitter Penetration ....................................................................................................................................... 8 Twitter Followers .......................................................................................................................................... 8 Social Media Engagement (Klout) ............................................................................................................... 10 Early Adopters ............................................................................................................................................. 11 Glossary of Terms........................................................................................................................................ 14 Center Type ......................................................................................................................................... 14 Social Media Terms ............................................................................................................................. 14 Management Company Affiliations ............................................................................................................ 15 © 2014 Alexander Babbage, Inc. All Rights Reserved 2 www.alexanderbabbage.com Shopping Center Social Media Benchmarks Year-End 2013 Summary Analysis The end of 2013 showed that growth in social media use among shopping centers has plateaued, and by some measures, adoption rates began to decline. Year-end 2013 data revealed that 67% of shopping centers use Facebook, which is down from 71% compared to year-end 2012; and 57% use Twitter, which is down from 58% from year-end 2012. Although the number of centers using these platforms has decreased, the content they are sharing is more engaging and is increasing shopper interaction. The average number of Facebook Page Likes rose 34% from 10,329 in 2012 to 13,820 in 2013. The total number of Likes for the industry in 2013 was 17.2 million, up 6 million from 2012. As of year-end 2013, there were 1.4 million Twitter followers for the shopping center industry, which was up from nearly 1 million at the end of 2012. This averages 1,573 Followers per center for 2013. Individual center Klout Scores were analyzed to compare against their overall Klout score, scores with the most Facebook Page Likes, and scores with the most Twitter Followers. The content centers use to engage their shoppers must be interactive enough to be shared among other shoppers’ connections. Shopping centers with a lower number of Likes or Followers can boost their Klout by creating content that generates a high level of engagement. There was notable early adoption of new forms of social media in the shopping center industry during 2013. Instagram was adopted by 292 shopping centers which resulted in 164,375 shoppers who shared pictures and engaged with their favorite shopping centers. The platform known as Pinterest, which involves sharing information and pictures in categorized interests, was added by 155 shopping centers. Only 109 shopping centers have featured a Google+ account while 232 shopping centers have implemented a form of Mobile Club to reach their shoppers using text messages. Social media is the preferred source of information for Generation Z and Millennials. Leveraging an effective social media strategy will be critical to shopping centers if they want to engage and build profitable and meaningful relationships with their shoppers. © 2014 Alexander Babbage, Inc. All Rights Reserved 3 www.alexanderbabbage.com Shopping Center Social Media Benchmarks Year-End 2013 In This Report The Year-End 2013 Shopping Center Social Media Benchmark Report provides a gauge for you to understand how your center’s (or portfolio’s) social media efforts compare with that of the shopping center industry. Here you will find a ranking for industry leaders for Facebook Likes and Twitter Followers, and you will see who grew their social media footprint in 2013 compared to 2012. And perhaps even more importantly – you will see how your peers strengthened their social engagement – not only through Facebook and Twitter, but through new initiatives such as Pinterest and mobile clubs. Database Synopsis The Year-End 2013 Shopping Center Social Media Benchmark Report features data gathered from 1,776 shopping centers – including nearly 1,200 regional and super-regional centers in all 50 U.S. states plus Puerto Rico. Center Type (300,000 square feet or larger) 2011 2012 2013 Super Regional Centers 26% 26% 24% Regional Centers 46% 46% 43% Lifestyle Centers 22% 22% 26% Entertainment Centers 1% 1% 1% Value Centers 5% 5% 6% Using Using Using Using Using Using Facebook Facebook Facebook Twitter Twitter Twitter Center Type 2011 2012 2013 2011 2012 2013 Super Regional Centers 83% 87% 87% 72% 75% 78% Regional Centers 58% 64% 60% 45% 48% 48% Lifestyle Centers 60% 65% 56% 47% 51% 47% Entertainment Centers 69% 69% 63% 56% 63% 63% Value Centers 89% 89% 80% 83% 83% 74% Total Industry 67% 71% 67% 55% 58% 57% Value centers were the early adopters for both Facebook and Twitter in 2011, while regionals and super- regionals were slower to come onboard. As of year-end 2013, super-regional centers have eclipsed all other center types in their use of both Facebook and Twitter. Without the growth among super- regionals, the overall industry use of Facebook and Twitter would be below 2011 levels. © 2014 Alexander Babbage, Inc. All Rights Reserved 4 www.alexanderbabbage.com Shopping Center Social Media Benchmarks Year-End 2013 Findings 100% Shopping Centers Using Facebook and Twitter 80% 72% 68% 67% 58% 55% 57% 60% 54% 45% 40% 20% Facebook Twitter 0% 2010 2011 2012 2013 100% Percent Change in Shopping Center Facebook and Twitter Use 80% 71% 67% 58% 57% 60% 40% 6% 2% 20% 2012 2013 0% Facebook Twitter Facebook Penetration The shopping center industry ramped up its use of both Facebook and Twitter between 2010 and 2012, but penetration plateaued in 2012 and – mostly driven by a decrease in use among Value Centers – the use of both mediums saw an industry-wide decrease in 2013. Nevertheless, more than two-thirds of all shopping centers rely on Facebook as their primary social media tool. © 2014 Alexander Babbage, Inc. All Rights Reserved 5 www.alexanderbabbage.com Shopping Center Social Media Benchmarks Year-End 2013 100% Shopping Centers Using Facebook by Center Type 80% 60% 40% 20% 0% 2010 2011 2012 2013 Super Regional Centers Regional Centers Lifestyle Centers Entertainment Centers Value Centers Total Industry Facebook Likes As evidenced by the growth in the number of Likes across all shopping center types, marketing teams put a significant focus on shopper engagement in 2013. The growth in Likes among super-regional centers is particularly noteworthy given the growth in the number of centers that added Facebook in 2013. While Plaza Las Americas still holds the top spot with more than 489,000 Likes – and growing – three centers moved onto the Top 20 List for the first time. Sawgrass Mills saw a surge in Facebook Likes from 2012 to 2013, and as a result, moved onto the Top 20 List with more than 107,000 Facebook Likes. In addition, Pike Place Market (205,923 Likes) and Hollywood & Highland Center (82,254 Likes) are both Top 20 newcomers. Average Number of Facebook Page Likes
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