Stockland has topped the annual industry Head Office Tenant Satisfaction survey (TenSAT) conducted by Monash University’s Australian Centre for Retail Studies for the fourth year in a row. Against an industry wide decline, Stockland satisfaction ratings have increased over the last two years. We hear it from many of you anecdotally, but the research confirms that our people and communication are key reasons for our high satisfaction scores. We are also encouraged, although not complacent, to see that Stockland also leads in terms of renewal intention.
Our involvement in this research initiative is acknowledgement of our focus on tenant landlord relationships and our belief in the value of tracking, monitoring and benchmarking our performance against industry best practice. Stockland has been tracking retailer satisfaction annually since 2010 and these results are shared with our Leadership Teams, employees and the Stockland Board.
We also undertake our own tenant satisfaction survey with centre based retailers, CentreSAT, to better understand these retailers’ needs and identify opportunities for improvement. We acknowledge that satisfaction amongst centre based retailers is not as high as amongst Retailer Head Office based customers and that this is an area we are actively working on improving.
This year across TenSAT and CentreSAT, 569 retailers rated Stockland’s performance on customer satisfaction. Thank you for participating in these surveys and for your vote of confidence in our commitment to creating centres that meet the needs of our customers and our communities.
Finally, we thought you might be interested in what you collectively told us were your key priorities for the year ahead. No surprise that increasing total sales tops the list but interesting to see that this, together with expanding the store network, has increased in importance from when we asked you this question in 2015.