VIC_Strategy Brochure-20pp-FA

‘Reimagine’
“Our
universe is
transforming,
and retail
is always
changing.”
At Vicinity we play a key role in the everyday lives of many
Australian communities. From our smaller centres integral to
the day to day lifestyle of the local community, to our larger
retail destinations attracting visitors from far and wide.
We open our doors to nearly half a billion customers a year, and
create environments for more than 9,000 retailers to trade. It’s
a unique privilege we have, and we don’t take it lightly. Our team
is passionate and united by our purpose of enriching community
experiences. It’s what we do and why we choose to be here.
However, we also understand the importance of not standing
still. Our universe is transforming, and retail is always changing.
That’s why we’ve titled this next chapter of our story,
‘Reimagine’.
In the pages that follow, you will read more about our plans,
including our strategic direction and the values we commit to
as a team. It’s what we believe in, and how we will go about it.
You may notice some differences, subtle but deliberate.
Our plans talk about places and destinations, not shopping
centres. We refer to consumers rather than shoppers or
customers, and we consider experiences to be defined by
both the physical and digital world, they just go hand in hand.
We’ve outlined three strategic focus areas to guide us, and
while they may not surprise you (as we focus on them already),
it will be in the way we approach them; how well we listen,
adapt, move at pace and how well we come together as a
team to reach our goals.
We’ve chosen to put the spotlight on three value statements
above all, to help bring our plans to life, and that is; we always
collaborate, we embrace diversity, and we imagine a better way.
If we can live up to these statements in everything we do, there
is nothing we can’t achieve together.
We now have the opportunity to reimagine our future, and
the possibilities are truly endless. This is just the beginning.
Angus
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We are
Vicinity
At the heart of who we are is our Purpose of enriching
community experiences. It’s what unites us, and what drives us.
Our Vision talks to our aspirations of where we want to be and what we strive for.
This may evolve over time as we continue to reimagine our future.
Our Values bring our story to life – you can see this in the way we interact, the actions we take, the
decisions we make, the conversations we have, the stories we share, and the experiences we celebrate.
Our Brand Promise is what we want to be known for, and what will set us apart from our competitors.
And we proudlysay that’s better, easier and more enjoyable.
WE
We understand we operate in
a dynamic retail environment,
with changes all around us. As
consumers ourselves, we see
this disruption in everything we
do and as a business we need
to remain one step ahead.
And when we talk community, we are talking about all our communities; our retailers,
consumers, investors, partners and our people. All are important to us, and we value
them greatly.
Agile is the way we like to work. It helps us deliver on our brand promise, our
values, and ensures we keep things moving. You can expect to find us
coming together at the wall, in huddles, and in squads.
We look to our horizons (yes, that’s plural).
This ensures we never just live in the now, as
we understand the importance of what
we do today, only helps us deliver
tomorrow.
The timing is right to challenge
our thinking, reinterpret what
we see and reimagine the
possibilities.
That’s why we’ve called our
strategic direction ‘Reimagine’.
It will take confidence (maybe
even moments of bravery), but
we have the team in place, and
you have the permission to do
it. In fact, our success depends
on it.
You are invited to take part
in the first chapter of our
Vicinity Story – Reimagine.
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Our Vicinity
Story
To put it simply, we exist to enrich community experiences. We reimagine destinations of the future, creating places where people
love to connect. We do this by creating unique and relevant consumer experiences, delivering compelling value to our retail partners
and striving for excellence in everything we do.
We compete against the local park or playground, cafes and
restaurants, galleries, museums, the beach… the list goes on.
we compete against places and activities where
people choose to spend their time individually or
with family and friends.
places that help people juggle the complications of modern life;
places where people enjoy visiting;
In our first chapter, we are all about reimaging destinations where people
choose to spend their time;
places where people connect to the internet of things,
the latest styles, and with each other;
places where people come to escape, to relax, to get things done;
places to work and develop, to partner with, to trust, to invest in.
Our portfolio of destinations are our products and so we group them
into brands that play unique roles with our consumers and retailers;
Leadership, Aspirational and Heartland.
You’ll be hearing these brands talked about a lot as we
really begin to share their unique stories.
We know we don’t just compete against
other shopping centres,
Our Brands
It’s time we reimagine who we compete against …
That’s why we love to unite all our communities to make the impossible possible. We challenge the status quo, bringing together
curious people and daring them to dream. We inspire our people to embrace different perspectives, challenge assumptions and
open their hearts and minds to the future. We collaborate to amplify our collective strength. And most importantly, we have the
courage to be better tomorrow than we are today.
We’re not afraid to enjoy the moments that challenge us as much as those we celebrate. At the end of the day,
everything we do, big or small, counts because we put the hard yards in to make life better, easier, more enjoyable.
Life is about living and so is our brand.
We are curious about possibilities, making life simpler, and
striving to inspire while having some fun along the way.
That’s why we are always seeking ways to
amplify what is good and change what is not.
We know people have choice, access to information at their fingertips
and options when it comes to where they spend their time.
If we don’t stand up and tell our own story, others will do it for us, so
it’s time to reimagine how we participate and bring our brand to life.
We’re working hard every day to build a brand
and reputation that others will become envious of.
It’s so much more than the logo you
see on a wall or on a piece of paper.
Our brand is really about all the touch points and experiences that
our communities have when they come into contact with us.
This makes us all brand ambassadors; custodians of who we
are, who we want to be and what we want to be known for.
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Shaping our
Vicinity Future
To create unique and relevant consumer
experiences, deliver compelling value to
our retail partners and strive for excellence
in everything we do.
Purpose
Enriching Community Experiences
Strategy
CONSUMER:
Create unique and relevant
consumer experiences.
RETAILER:
Deliver compelling valueto our
retail partners.
OUR BUSINESS:
Experience
& brand
promise
Transform
Transform our business to
increase our focus on the
consumer and retailer.
Better business
Continuously improve our
business.
Measure of Success:
We are currently exploring
our measures of success.
Better, Easier,
More Enjoyable
Vision
We reimagine destinations
of the future, creating places
where people love to connect
Values
We
Embrace
Difference
We
always
collaborate
We
imagine a
better way
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Our Purpose
Enriching community experiences is
our shared purpose.
We are proud to say we put our
communities at the heart of everything
we do, they are the reason we exist.
Our communities are our consumers,
our retailers, our investors, our partners
and our people.
We are driven by our responsibility to
enrich our communities, whether it’s the
destinations we create, the experiences
we provide, and the value we give back –
we each play a part and it’s what gets
us out of bed in the morning.
Our Vision
Just like our purpose, our vision puts our
communities at the centre of everything
we do.
We reimagine destinations of the
future, creating places where people
love to connect.
We know our consumers decide. They
decide where they want to be, what they
want to do, and how they spend their
time. They don’t see physical space or
digital space, they just see an experience.
And, so do we.
We believe our role is to make our
consumers’ lives better, easier and more
enjoyable, and offer destinations and
experiences that will truly add value to
their lives. Our first step will be to better
understand their lifestyles and their
needs. A lot of what you will read from
here is based on building this first step.
Reimagine is our chapter one after all.
Better, Easier
and More
Enjoyable
Our Brand Promise has become our
mantra. It’s what guides our decisions and
interactions with our communities and it’s
how we challenge ourselves. For example,
our people are serious about customer
service, but we don’t have to be overly
serious about the way we deliver it.
Before we make changes, we ask
ourselves if the end result will be better,
easier and more enjoyable for our
consumers, our retailers, and our people.
If the answer is no, we go back to the
drawing board.
You can be sure we will ask ourselves this
question many times, because it’s really
important to us that we are living up to
our brand.
We want to be known as better, easier
and more enjoyable to; visit, park, escape,
relax, navigate, do business with, partner
with, and work at.
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Our strategy
If our vision
defines our
aspirations
for the
future, our
strategy
is how we
go after it.
We have three key focus
areas for our strategic
direction;
• consumer (more than a shopper)
• retailer
• and our business
It may sound simple enough, but our strategy
requires the actions of all our people to deliver,
and the imagination to inject life into the words
on a page.
Together we aim to create unique and relevant
consumer experiences, deliver compelling value
to our retail partners, and strive for excellence in
everything we do. If we can get these three things
right, we are well on our way to reaching our vision.
So let’s explore our three key focus areas in
further detail.
Consumer
We need to create unique and relevant
consumer experiences.
Why? Because that’s what our different
consumer tribes want.
This may sound overwhelming, as there
are so many tribes and what they want
or desire is different.
It starts with taking the time to listen and
truly understand. This will be our focus.
For example; do we understand their pain
points? What are their thoughts on how
we connect with them both online and
offline? Do we make it easier for them
in the carparks and the malls, and what
about in creating places where they
want to meet friends, family or entertain
the kids? There is a lot to learn from
them, and we are keen to know as much
as possible.
We can then build our consumer strategy
to start and end with making their lives
better, easier and more enjoyable. It
requires a truly local understanding of who
our customer is, and the experience they
are looking for from each of our destinations.
Of course as we take this valuable time to
learn, we will also deliver some exciting
new products and services along the way!
Retailers
We need to deliver compelling value
to our retail partners.
Our success is deeply intertwined with our
retailers’ success. After all, our consumer
is their consumer, and we have a shared
purpose of building stronger and more
intimate connections with them.
So, what does it mean to deliver
‘compelling value’ for our retailers? It
simply means we deliver what’s most
important to them.
We need to gain a stronger understanding
of our customers based on quality data
and insights. Be relentless in our efforts to
drive the consumer traffic our retailers
need to be successful.
We need to constantly explore the retailer
experience, understand their point of view,
work together to capture opportunities,
and genuinely listen to how we can
partner with them better.
We will develop new products and services
to help us both be more successful, and
look to opportunities to improve our
relationships with our retailers, at every
touch point and at every destination.
We will investigate a range of initiatives, from
the smallest of gestures through to the
grandest of partnerships, and involve many
of our teams from across the business.
Our
business
We need to strive for excellence in
everything we do.
Some of this will come from just being
continuously better at how we operate our
business; and talks to our value of looking
for a better way.
There will be times when we need to
look at some bigger and more disruptive
changes required to transform our
business, as this will enable us to
become truly focused on the consumer
and the retailer, and our vision to create
destinations of the future.
However not all our changes will be
big. The little things make a difference
too, and it will be important to maintain
our focus on what we already do so
well, and the incremental improvements
we contribute no matter what our role
may be.
When you put it all together, our strategic
statement is:
To create unique and relevant
consumer experiences, deliver
compelling value to our retail partners
and strive for excellence in everything
we do.
We are currently working through our detailed plans and objectives. More to come.
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We focus our efforts on actions:
to increase, create, establish,
reduce, lead, develop and plan.
And we believe if you can’t
measure it, you can’t manage it.
We don’t spend time worrying
if we can achieve it, we talk
about how we can achieve
it, and we make it happen.
Delivering
what we
say we will
We work to SMART objectives – specific, measurable,
attainable, relevant and time-bound, and we believe
in stretching ourselves, and testing the boundaries –
always!
We support each other in reaching our goals, as we
understand that if the team succeeds we all succeed,
and not the other way around. And once we have
reached our goals, we take the time to reflect,
reward and share in our success.
Business strategy:
1. Remagine
Our strategic direction
2. Power of the Collective
Team objectives
3. We all play our part
Individual objectives &
our values
(enabled by our learning &
development program)
We don’t just stop there, we keep on learning too.
We learn so we can make decisions, adapt to new ways
and learn from others. It’s how we improve, strive further
and it’s how we grow together.
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Our Values come to life through the actions we take, the decisions we make, the lessons we learn, the stories we share, and the experiences we create. In short, it’s how we roll.
These are our values
Our Values
out diverse views, and tap into our imaginations, we will be unstoppable.
We’ve chosen to highlight three value statements above all else. We are confiident that if we can embrace an open and collaborative mindset, seek
We
embrace
difference
We celebrate diverse perspectives as this
best reflects our communities, and encourages
a workplace where everyone can be
themselves. We believe it’s in our
differences that will shape
our future.
We
always
collaborate
When we come together we achieve far
more than the sum of our parts, we create
seamless experiences for our communities
and better outcomes than we ever
thought imaginable.
It’s that simple.
We
imagine a
better way
We provide space to think, challenge the
status quo and dare to dream. We know
it takes courage to be better tomorrow
than we are today, so we learn from
our mistakes, adapt quickly
and go again.
Our values are part of who we are and intrinsic to our success.
It is for this reason you can expect our team to call it out when they
don’t see them being lived, and equally, to recognise when they are.
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What
will it
take?
Reimagine is about challenging the
status quo. Step outside our norm, be
creative and allow ourselves to strive
further than before.
We need to be agile in our approach, flexible in our
thinking, and adapt quickly. After all, trial and error
leads to brilliance.
Be confident and brave. We all have
unique skills, experiences and gifts
that will play an important role.
Seek out the views of others (especially
those that are not the obvious choice).
Appreciate our differences and work
together as a team.
Live up to our purpose each and every
day. Make decisions keeping our
consumers and retailers front of mind.
This will be our competitive
advantage.
Don’t talk innovation, make it our way
of life. Share ideas, remain curious.
Improve the little things (as well as
some of the big things).
Get creative. Move the meeting outside.
Spend time walking the malls. Take
inspiration from your surrounds.
Continue doing what we already do well.
Don’t be afraid to challenge (respectfully
of course) and suggest a different way.
Encourage open communication and an
open mindset. Only then, can we feel free
to speak our minds, be ourselves, and
benefit from a fresh perspective.
And most importantly, listen.
We have confidence in you – we know that
together we’ve got what it takes.
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Be Brave
#weimagine