Macquarie Centre reached an historic milestone of $1 billion in Moving Annual Turnover (MAT) sales in December 2024. In recognition of this success, SCN invited Emma Merlino, Centre Marketing Manager at Macquarie Centre, to share insights into the journey behind this remarkable achievement.
After a turbulent period for the retail sector, Macquarie Centre has led a remarkable recovery, achieving $1 billion in Moving Annual Turnover (MAT) sales in December 2024 for the first time ever. This achievement not only emphasises the resilience of bricks-and-mortar retail but also highlights Macquarie Centre’s ability to adapt while keeping customers at the heart of its strategic vision.
The foundation: Location and a unique audience
Located 15km north-west of Sydney’s CBD, Macquarie Centre is nestled in the Macquarie Park Innovation Business District and on the doorstep of Macquarie University. This prime location serves a diverse demographic, offering excellent access via arterial roads and public transport further enhanced by the newly extended Sydney Metro line.
Despite Macquarie Park being the largest office precinct outside of Sydney’s CBD, the main trade catchment area is home to 356,200 residents who form the core of Macquarie Centre’s customer base.
Adapting to challenges: The road to recovery
Like so many in the retail industry, 2020 through to 2023 posed unprecedented challenges for Macquarie Centre, particularly due to its unique customer base featuring substantial exposure to office workers and university students.
Fast forward two years, Macquarie Centre has soared to new heights.
In December 2024, the Centre achieved record-breaking sales and traffic numbers, with the total centre trading up 20% compared to 2019. For the first time ever, Macquarie Centre surpassed $1 billion in MAT sales, reflecting a +4.4% YoY increase. This achievement followed the highest November and December traffic since records began in 2016. In 2024, the centre welcomed more than 18 million visitors, marking a +5.8% YoY increase and setting a new benchmark in MAT Traffic.
Diversification: More than just retail
A driving force behind Macquarie Centre’s success is its vibrant and diverse tenant mix. The Dexus leasing team, working closely with the centre management team and supported by the broader Dexus retail team, has been focused on curating an improved and relevant retail mix. Over the past two years, the centre has introduced a slew of exciting new and diverse retailers including LEGO, Dior and Samsung, transforming the centre into a bustling hub of activity. This dynamic approach, coupled with enhanced category-based precincts, has been strategically tailored to meet the evolving preferences and demands of their loyal customers.
The food catering category has become a major highlight at Macquarie Centre, with an exciting array of new retailers joining the lineup. From Yo-Chi to Zeus Street Greek and Claypot Kitchen, the variety of dining options is extensive. Food catering MAT sales have surged, now 40% higher than 2019 figures and are continuing to grow.
A key element to reaching this milestone was the innovative campaigns executed by the centre-based marketing team which, supported by Dexus’s central marketing team, recognised the strategic importance of executing campaigns to elevate brand awareness and distinguish Macquarie Centre from the competitive shopping centre landscape.
Recent standout campaigns, such as the vibrant Spring Summer Bloom Box, the trendy Hideaway Black Friday Bar, and the festive Christmas Jolly Jackpot, collectively generated nearly $600,000 in sales.
These meticulously crafted campaigns were designed not only to drive visitation, but also to create memorable experiences that fostered customer spending and loyalty.
In addition to these campaigns, Macquarie Centre hosted a diverse range of events that captivated visitors of all ages. From the weekly Kids Cubhouse program of events to the magical Christmas Santa set, Santa’s Arrival Parade and retailer-led activities, the centre has become a hub of connection, engagement and even magic.
Sustainability and social responsibility
Another factor contributing to Macquarie Centre’s success is its commitment to sustainability and social responsibility.
Macquarie Centre is committed to delivering meaningful sustainability outcomes that align with the Dexus sustainability strategy, which aspires to unlock the potential of real assets to create a lasting positive impact and a more sustainable tomorrow. This includes delivering against the sustainability priority areas of Customer Prosperity, Climate Action and Enhancing Communities.
Not only are these values important to Macquarie Centre, but also to their customers and tenants. The centre has continued to invest in a range of initiatives from energy efficient lighting, waste and water reduction programs to the installation of electric vehicle charging stations.
Macquarie Centre is committed to fostering an inclusive environment where everyone is welcome, feels safe and belongs. Following feedback from the community, upgrades were made to one of the major amenities. The new facility has been specifically designed to enhance accessibility and inclusivity, these new facilities cater specifically to adults with high support needs that are not accommodated by standard accessible toilets. Importantly, the Parents Rooms located within the centre have also been recently accredited as Baby Care Rooms by the Australian Breastfeeding Association (ABA).
Another initiative Macquarie Centre rolled out is the Hidden Disabilities Sunflower program. The sunflower is a globally recognised symbol for non-visible disabilities, and the Customer Service team has been specially trained to identify the sunflower, understand the unique challenges faced by individuals with hidden disabilities, and learn how to approach and support them with empathy and care. Team members who have undergone this training wear pins to make themselves easily identifiable to customers in need of assistance.
These measures highlight Macquarie Centre’s commitment to creating welcoming spaces for all community members and have significantly enhanced accessibility for many customers.
Looking ahead: The future of retail
Reaching $1 billion in MAT sales and 18 million in MAT traffic is a monumental achievement, and the centre remains committed to adapting its offering and finding new ways to meet the demands of its customers.
Plans are already underway to enhance the centre’s offering and establish further sustainable initiatives, and introduce new technologies to provide customers with an even more seamless shopping experience. Macquarie Centre has proven that with strategic vision, agility and a commitment to excellence, the future of retail is bright.
The centre would like to thank its loyal customers, tenants and staff who helped achieve this outstanding result.
This article by Emma Merlino, Centre Marketing Manager at Macquarie Centre features in the latest edition of SCN magazine.
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