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British Land tests the opportunities of omnichannel

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British Land tests the opportunities of omnichannel
British Land tests the opportunities of omnichannel
British Land is investigating what other benefits omnichannel could bring offer to its shopping centres, as it reported that that click and collect services were helping to drive sales at its shopping centres.

The property developer, which owns and operates a number of shopping centres, says its click and collect rates are "more than double the industry average at peak times, and two-thirds greater during off-peak." Some 64% of customers using click and collect services at its shopping centres, particularly those that are out-of-town, go on to make further purchases, and 23% spend money on food.

Now British Land is trialling further omnichannel and digital shopping services. At its Meadowhall centre in Sheffield (pictured), it has trialled iBeacon technology to send offers direct to shoppers' smartphones. The Doddle parcel collection business has opened one of its first outlets outside railway stations at British Land's Ealing Broadway Shopping Centre.

The update came as British Land, which owns a retail and leisure portfolio worth £7.5bn alongside other commercial property, said pre-tax profits hit £1.8bn in the year to March 31 2015. At year-end its property portfolio was worth £13.6bn, 12.1% more than at the same time last year. Retail assets account for 55% of its holdings, and office and residential for 45%.

In his review, chief executive Chris Grigg said: "Our focus in retail is on owning assets that capture a broad range of consumer journeys and on using our skills, knowledge, insights and relationships to drive value. Across the portfolio we are improving environments; adding leisure space; trialling new concepts in food and entertainment; and where we see value, leveraging technology. Our strong operational performance shows this approach is delivering results."
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