Using social media to beat the big boys

It was as sure a sign as any. In the fourth quarter of 2005, real estate provider CBRE reported that rents in Oxford Street, Paddington, and in Double Bay had dropped disproportionately to other precincts since the start of the year.

Softer footfall already suggested the recently opened Westfield Bondi Junction was drawing customers away from the boutique shopping precincts, and CBRE all but quantified cries of lost sales.

Commercial rental rates across both regions “softened considerably” with vacancies in Double Bay also increasing from 4.2 per cent to 9.7 per cent and Oxford Street from 6.9 per cent to 9.2 per cent.

Paddington Chamber of Commerce head Bernard McGrath yelped that trade had dropped in excess of 30 per cent along the street and more retailers were choosing not to continue with their leases.

It would have been a particularly a tough time for Theo Onisforou, then a Diesel Australia licensee and owner of 18 properties near the intersection of Oxford St and Glenmore Road.

With the opening of Westfield Sydney CBD now just months away, Onisforou is not about to entertain a repeat of events.

He is in the early stages of a social media and PR push to promote ‘The Intersection’ as a must-stop, one-stop fashion destination. For those unfamiliar with the inner-city hub, it houses flagships from the likes of Scanlan & Theodore, Sass & Bide, Zimmermann, Zambesi, Peep Toe Shoes, Camilla and Marc and Kirrily Johnston.

Now a dedicated blog – http://blog.theintersectionpaddington.com.au – penned by a dedicated PR agent, has been launched to update consumers on the latest stock drops, offer styling tips and ‘street style’ photographs of shoppers along the strip.

The blog doesn’t just spotlight one brand or one store: it’s a promotional push for the entire hub and links back to other social media platforms such as Twitter and Facebook.

Last week, consumer fashion title Grazia jumped on the bandwagon to host an evening event at The Intersection, with exclusive discounts, styling sessions from fashion editors, designer interviews and fashion photographers on site.

Okay, it’s hardly a case of David versus Goliath – Onisforou clearly has enough coins to throw off another offensive from Westfield. But it does highlight the importance of social media is generating awareness among consumers – and more importantly, what can happen when indies band together to promote their shopping precincts rather than just their own front door. After all, the more feet on your street the merrier.

For those attending the business seminar at trade fair Fashion Exposed, be prepared for more insights on how you can capitalise on social media platforms.