MCU14/0106 Appendix J - Retail Needs Assessment

6            Current Turnover Performance
This section analyses the current performance of Noosa Civic and uses this information, together with
the Quantium analysis of customer distribution, to determine the current share of the overall retail market
captured by the centre.


6.1          TURNOVER DISTRIBUTION BY TRADE AREA SECTOR
The distribution of centre turnover, by trade area sector, is outlined in Table 6.1 below. These
distributions are based on Quantium data outlined earlier in this report. This data provides an estimate as
to the portion of turnover that is attributed to tourists and residents who reside outside of the trade area,
which together are referred to as the proportion of total turnover from beyond trade area.

Based on the above it is reasonable to estimate that approximately 33.9% of the turnover of Noosa Civic
is derived from residents of the primary trade area sector. A further 43.1% comes from residents in the
secondary sectors, resulting in a total of 77% of turnover coming from main trade area residents. This
equates to a total of over $112 million out of the shopping centre’s total turnover of $146.6 million.

Approximately 23% (or $33.4 million) of the shopping centre’s turnover comes from residents who live
outside of the main trade area, including tourists visiting Noosa for a holiday.


Turnover Distribution by Trade Area Sector, 2014
NOOSA CIVIC, INC GST                                                                                         TABLE 6.1
                                            Turnover ($M)                      % of Centre Turnover
                                     Food    Non-Food       Total         Food        Non-Food           Total
  Primary                            23.8       25.9         49.7          39.7%          29.9%           33.9%
Secondary
 North East                           4.1        9.2         13.3           6.8%          10.6%            9.1%
  South East                          2.6        7.4         10.0           4.4%           8.5%            6.8%
  South                               6.4        8.1         14.5          10.7%           9.4%            9.9%
  North West                         10.4       14.9         25.3          17.3%          17.2%          17.3%
  Total Secondary                    23.6       39.6         63.2          39.3%          45.8%          43.1%
Main Trade Area                      47.4       65.5        112.9          79.0%          75.7%           77.0%
% from beyond trade area             12.6       21.1         33.7          21.0%          24.3%          23.0%
Total Centre                         60.0       86.6        146.6        100.0%          100.0%         100.0%
So urce : Quantium Data ; Urbis




6.2          CURRENT MARKET SHARES
The current market shares that Noosa Civic achieves are outlined in the following section. For the
purposes of this assessment we have identified the market shares derived from the Quantium analysis
conducted in 2014.

Quantium data on the geographical distribution of spend was used to distribute the known turnover of
Noosa Civic across the trade area sectors. This ‘distribution approach’ was done at a store type level and
weighted by how much customers spent in the centre based on NAB ‘plastics’ transactions. This is then
factored up by Quantium to result in an imputed total ‘plastics’ transactions, during a full year. The
distributed turnover was then divided by the market, as defined by Urbis, to attain the market shares.

The information in Table 6.1 in the previous section is now combined with the size of the spending market
in each trade area sector from Section 5 to determine the current market shares achieved by Noosa Civic
in its current form (see Table 6.2). The Noosa Civic market share analysis illustrates the proportion of
residents’ total retail spending that is spent at the centre.




96    CURRENT TURNOVER PERFORMANCE
                                                                                                                           URBIS
                                                                    NOOSA CIVIC - RETAIL NEEDS ASSESSMENT DEC 2014 MASTER - FINAL