Glossary
Terms Related to Real Estate and Shopping Malls
Customer Lifetime Value (LTV)
The sum of the value (revenue) that customers of a certain company are expected to generate over their lifetime. This value is viewed as a source of future earnings.
Circular Malls
AEON MALL creates malls that incorporate the concept of circular economies*. As we focus more than ever on reducing waste (including the elimination of plastics), we seek to recycle resources, including food recycling and clothing collection.
*An economic activity that creates added value by minimizing the input and consumption of raw materials, while at the same time utilizing previously discarded products, etc., in an effective manner (resource "stock"). Circular economy.
Gross Lease Area (GLA)
The total area available to lease by a shopping mall to its tenants.
Tenant Leasing
The process of attracting appropriate tenants based on the concept of a certain shopping mall. A mall considers marketing and a variety of other measures to attract tenants.
AEON MALL Store Association (Doyuten)
An organization whose membership consists of AEON MALL tenants. The association conducts educational training for employees of member companies, sponsors sales competitions, and holds social gatherings.
The term doyuten in Japanese refers to like-minded partners.
Biophilic Design
A spatial design that incorporates elements including as vegetation, water, and light that have a positive effect on humans. Biophilic design helps people relax and improves their ability to concentrate.
Property Management
Management operations that treat a facility as an asset, including administration and investments aimed at increasing asset value. In addition to facility maintenance, property management involves cost management, any necessary renovations to improve the property, etc.
Two-Anchor Mall
A type of shopping mall structure. This model refers to a mall consisting of two major tenants (supermarket and department store, for example) at each end, with small- and medium-sized specialty stores located between. The purpose of a two-anchor mall is to improve customer traffic flow.
RSC
Regional shopping center. A large shopping center (shopping mall) designed to serve a wide market area. Generally a large supermarket or department store serves as the anchor tenant alongside a variety of specialty stores. Regional shopping centers feature large parking lots with capacity for several thousand vehicles.
MD
Merchandising. Merchandising related to shopping malls refers to a series of activities (from leasing, to zoning (classification by theme), composition, and placement of tenants) in line with the overall concept of a certain mall.
Business Terms
Experience Consumption
A consumer activity in which multiple products and services are received as a single experience, and from which emotional value is derived.
Stakeholder
The term stakeholder encompasses customers, business partners, employees, shareholders, suppliers, local residents, and all other stakeholders of a certain organization.
Solutions
Products and services that contribute to solving customer issues or concerns.
Materiality
In non-financial reporting (reporting on activities related to ESG), materialities are the various ESG and social issues surrounding a company that are considered particularly important to said company. Priorities are determined by taking into account the magnitude of the impact of the issue on society and the importance of the issue to stakeholders.
Customer Experience (CX)
The experiential value derived by a customer. This value differs from rational value (functions or prices of products and services), and refers to emotional value created through the process of purchasing and using products and services. Emotional value includes experiences related to follow-up services after purchase.
Digital Transformation (DX)
A company's use of digital technology to transform products, services, business models, business processes, and organizations to gain a competitive advantage in response to rapid changes in the business environment.
ESG Management
Management that is conscious of the environment, society, and governance. ESG management is not only about pursuing profits, but also about increasing corporate value from both financial and non-financial perspectives. This is accomplished by taking into consideration how a company reduces negative impacts on the environment and society caused by business activities.
