NAICS Code 531120-06 - Shopping Center Consultants

Marketing Level - NAICS 8-Digit

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NAICS CODE 531120-06
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NAICS Code 531120-06 Description (8-Digit)

Shopping Center Consultants are professionals who provide expert advice and guidance to shopping center owners and operators. They specialize in analyzing and improving the performance of shopping centers, with the goal of increasing revenue and profitability. Shopping Center Consultants work closely with their clients to identify areas for improvement, develop strategies to address these issues, and implement solutions that will help their clients achieve their business objectives. They may also provide guidance on marketing, leasing, tenant relations, and other aspects of shopping center management.

Parent Code - Official US Census

Official 6‑digit NAICS codes serve as the parent classification used for government registrations and documentation. The marketing-level 8‑digit codes act as child extensions of these official classifications, providing refined segmentation for more precise targeting and detailed niche insights. Related industries are listed under the parent code, offering a broader context of the industry environment. For further details on the official classification for this industry, please visit the U.S. Census Bureau NAICS Code 531120 page

Tools

Tools commonly used in the Shopping Center Consultants industry for day-to-day tasks and operations.

  • Traffic analysis software
  • Market research tools
  • Financial analysis software
  • Customer feedback tools
  • Lease management software
  • Tenant relations software
  • Marketing automation software
  • Social media management tools
  • Project management software
  • Business intelligence tools

Industry Examples of Shopping Center Consultants

Common products and services typical of NAICS Code 531120-06, illustrating the main business activities and contributions to the market.

  • Retail property management
  • Shopping center leasing
  • Tenant representation
  • Market research and analysis
  • Property valuation
  • Asset management
  • Marketing and advertising
  • Construction and development
  • Tenant improvement
  • Property maintenance

History

A concise historical narrative of NAICS Code 531120-06 covering global milestones and recent developments within the United States.

  • The Shopping Center Consultants industry has a long history dating back to the 1950s when the first shopping centers were built in the United States. The industry has since grown and evolved to meet the changing needs of consumers and retailers. In the 1970s, shopping centers became more upscale and began to offer a wider range of amenities, such as restaurants, movie theaters, and fitness centers. In the 1990s, the industry saw a shift towards lifestyle centers, which were designed to be more pedestrian-friendly and offer a mix of retail, dining, and entertainment options. In recent years, the industry has continued to evolve with the rise of e-commerce and the need for shopping centers to offer unique experiences that cannot be replicated online. In the United States, the Shopping Center Consultants industry has seen significant growth in recent years. According to a report by the International Council of Shopping Centers, there were over 116,000 shopping centers in the United States in 2019, generating over $2.5 trillion in sales. The industry has also seen a shift towards mixed-use developments, which combine retail, residential, and office space in a single location. This trend has been driven by changing consumer preferences and the need for shopping centers to offer a wider range of services and amenities. Overall, the Shopping Center Consultants industry has a rich history and continues to play an important role in the retail landscape in the United States.