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Simon Malls, an Attractive Alternative to Traditional Advertising

New Arbitron Study Shows Simon Rivals Print, Radio and TV

INDIANAPOLIS, May 20 /PRNewswire-FirstCall/ -- Simon Brand Ventures -- the business-to-consumer arm of Simon Property Group (NYSE: SPG), the largest shopping mall owner, developer, manager and marketer in America -- provides an attractive alternative to traditional advertising.

To prove the effectiveness of mall marketing, Simon worked with Arbitron, Inc. to develop a study detailing consumer profiles -- the format used by major advertisers - that demonstrate Simon's increasing power as a marketing medium. With approximately two billion consumer visits annually, Simon's network of 247 shopping properties in 37 states has a reach and point-of-purchase impact many traditional advertising mediums can't match, including The New York Times, USA Today, Sports Illustrated and TV Guide.

"To advertisers who only look at traditional mediums, Simon Malls' reach will be compelling and eye-opening," said Stewart Stockdale, president of Simon Brand Ventures and chief marketing officer of Simon Property Group. "In Boston, for example, Simon Malls reach 68 percent of the adult market in a 3-month period, rivaling the Boston Globe and the major television networks."

    Simon's penetration is particularly high among consumers in key markets:

                  Simon's Penetration In Key Markets (DMAs)

                                             Percent of Adults 18+
                                            Who Shop at Simon Malls
     Market (DMA(R))                           in the Past 3 Months
     Indianapolis                                     68 %
     Boston                                           68 %
     Atlanta                                          57 %
     Philadelphia                                     57 %
     Miami                                            47 %
     New York                                         45 %
     Dallas                                           29 %
     Chicago                                          23 %
     Washington, DC                                   22 %
     Houston                                          22 %
     Los Angeles                                      17 %

    Source: Arbitron Inc.: Simon Malls Shopper Profile;  Scarborough,
    Release 2 - 2003

It's no secret that advertisers are struggling to link a clear return on investment. The Arbitron study demonstrates that advertising at Simon Malls offers a national footprint, significant market penetration in key DMAs and tremendous consumer reach.

Americans are five times more likely to visit a Simon Mall than to attend a ticketed sporting event, including Major League baseball, NFL football, NBA basketball, NHL hockey, NASCAR, Major League soccer, NCAA events, major tennis events and the PGA combined. And malls have their own brand of experiential entertainment as the "community center" where friends and family spend significant time socializing, eating and having fun while choosing what to buy.

According to Stockdale, many of the nation's top brands, including Coke, Visa, Nestle, M&M Mars, MCI and Cingular have already shifted traditional advertising dollars to experiential advertising programs at Simon.

"We traditionally think of media and retail as two distinct things. However, this study reveals that shopping malls, and Simon Media in particular, should be seen as an effective media platform where consumers can be found and targeted when purchasing decisions are being made and where those decisions are acted upon," said Bill Rose, vice president and general manager, Arbitron New Ventures.

Mall advertising is a particularly effective medium for swaying the purchasing decisions of young Americans at the most crucial moment. According to Arbitron, teens and 18-24 year olds are more likely to make their purchasing decisions while at the mall. Older shoppers tend to decide what to purchase before arriving, but not necessarily which brand. The last chance for advertisers to change shoppers' minds is while consumers are at the mall, on the way to making a purchase. On-mall advertising recall among shoppers is high, and its ability to alter consumer behavior is significant. Among Simon's core shopper base, nearly half (48%) reported being motivated to visit a specific store by promotional based on-mall advertising.

Arbitron's custom study: Simon Malls Shopper Profile can be viewed online at: www.simon.com/arbitron. In addition, the Simon Mall audience can now be analyzed by any agency or advertiser with access to Scarborough data via Telmar and IMS media planning software.

About Simon Property Group

Simon Property Group, Inc. (NYSE: SPG), headquartered in Indianapolis, Indiana, is a real estate investment trust engaged in the ownership, development and management of income-producing properties, primarily regional malls and community shopping centers. Through its subsidiary partnerships, it currently owns or has an interest in 247 properties in North America containing an aggregate of 192 million square feet of gross leasable area in 37 states plus Canada and Puerto Rico. The Company also holds interests in 48 assets in Europe (in France, Italy, Poland and Portugal). Additional Simon Property Group information is available at www.simon.com.

About Simon Brand Ventures

Simon Brand Ventures (SBV), Simon's business-to-consumer arm, has pioneered the transformation of shopping malls into a medium where consumer brands can build one-on-one relationships with more than 100 million shoppers who make approximately 2 billion visits to Simon Malls each year. Simon's vast franchise of market-leading shopping centers nationwide provides SBV the foundation to monetize the distribution system through numerous consumer ventures. SBV has engaged in a number of consumer business initiatives, including nationwide roll-out of the Simon Giftcard(TM), launch of Simon platform programs such as Simon Kidgits Club(TM), Simon Super Chefs Live!(TM) and Simon DTour Live(TM), a national media delivery channel including experiential marketing methods, and multiple national and local marketing alliances with Coca-Cola, VISA U.S.A., and Cingular Wireless, among others.

About Arbitron

Arbitron Inc. (NYSE: ARB) is an international media and marketing research firm serving radio broadcasters, cable companies, advertisers, advertising agencies and outdoor advertising companies in the United States, Mexico and Europe. Arbitron's core businesses are measuring network and local market radio audiences across the United States; surveying the retail, media and product patterns of local market consumers; and providing application software used for analyzing media audience and marketing information data. Arbitron Internet Broadcast Services measures the audiences of audio and video content on the Internet, commonly known as webcasts. The Company is developing the Portable People Meter, a new technology for radio, television and cable ratings.

Arbitron's marketing and business units are supported by a world-renowned research and technology organization located in Columbia, Maryland. Arbitron has approximately 900 full-time employees; its executive offices are located in New York City.

Through its Scarborough Research joint venture with VNU, Inc., Arbitron also provides media and marketing research services to the broadcast television, magazine, newspaper, outdoor and online industries.

SOURCE Simon Property Group, Inc.; Simon Brand Ventures

/CONTACT: Sarah Heffernan, +1-314-982-8680, or Billie Scott, +1-317-263-7148, both for Simon Property Group, Inc./

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