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westfieldcorp.com

Founded Year

1959

Stage

Merger | Merged

Valuation

$0000 

About Westfield

Westfield creates and operates flagship assets in leading markets that deliver great experiences for retailers, brands, and customers. Its strategy is to create a high quality and productive shopping center portfolio globally, maximizing the value through ongoing development and intensive asset management.

Westfield Headquarters Location

Level 29 85 Castlereagh Street

Sydney, New South Wales, 2000,

Australia

+61 292732000

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Westfield Patents

Westfield has filed 40 patents.

The 3 most popular patent topics include:

  • Chairs
  • Fluid dynamics
  • Graphical projections
patents chart

Application Date

Grant Date

Title

Related Topics

Status

12/11/2019

7/12/2022

Chairs, Furniture, Cycle types, Mountain bike manufacturers, Seats

Grant

Application Date

12/11/2019

Grant Date

7/12/2022

Title

Related Topics

Chairs, Furniture, Cycle types, Mountain bike manufacturers, Seats

Status

Grant

Latest Westfield News

Eco-Conscious Buyers Are Shifting Consumer Trends, Here’s How Retailers Are Responding

Sep 13, 2022

Got it! Got it! AdobeStock_434315057 In recent years, climate change has significantly impacted countries across the globe. In response to the changing climate, customers and companies alike are finding ways to implement and promote sustainable business practices. Thinking about how to achieve climate goals in an authentic and impactful way that aligns with the needs and values of consumers is critical. I recently sat down with Tom Tierney, Executive Vice President of Center Operations & Construction Management at Unibail-Rodamco-Westfield , developer and operator of Westfield shopping centers in the U.S., to discuss the company’s latest sustainability survey , conducted among more than 6,500 Westfield shoppers across the United States. The survey shed light on consumer behaviors and preferences, as well as what these trends and opinions mean within the broader context of sustainable retail destinations, consumer experiences, and the future of the retail industry. Gary Drenik: Sustainability is increasingly a priority for consumers when evaluating where to shop and what goods to buy. What has Westfield done to enhance its sustainability efforts at its U.S. centers? Tom Tierney: Westfield is dedicated to prioritizing sustainability and environmentally conscious practices across our centers. In doing so, we have developed the Better Places 2030 strategy – which sets our ambition to create better places that respect the highest environmental standards and contribute to better cities. We’re able to create spaces where eco-conscious shoppers can feel good about visiting, through thoughtful designs that promote sustainability within our developments and the continued maintenance and improvement of these spaces, as well as our strategic partnerships with our retailers and local entities. Our commitments include cutting carbon emissions across our value chain by 50% by 2030, improving eco-efficiency among our tenants and contractors, promoting public transport and sustainable mobility, protecting biodiversity, and more – ultimately laddering up to our key pillars of creating better spaces, better communities, and being better together. Drenik: Westfield recently conducted a consumer survey focused on highlighting consumer attitudes and behaviors regarding sustainability. What was the most surprising insight that these survey findings revealed? MORE FOR YOU Tierney: The survey provided fascinating findings about Westfield shoppers and their attitudes, desires, and behaviors. Overwhelmingly, our shoppers have a vested interest in sustainability and view it as a top priority when making decisions as eco-conscious consumers or describing their purchasing patterns. In fact, one insight that surprised me was a majority of our shoppers are willing to pay more for environmentally sustainable items, with 90% of survey respondents stating that they’d be willing to pay a premium for items that meet their environmentally sustainable criteria. Additionally, 60% of survey respondents said they would be willing to pay a 10% mark up for such products, and some even expressed a willingness to pay between 25% to 40% more. Drenik: How does food waste and sustainability play a role in conversations about retail and the consumer experience? Tierney: Food waste and sustainability play a pivotal role in these discussions. Through our survey, we were able to glean insights about how much Westfield shoppers care about these topics and, to put it plainly, the answer is that they care about them a lot. At a more granular level, 75% of Westfield shoppers hold the highest expectations around eco-consciousness for food. Our findings also revealed that reducing waste is a key area of sustainability for our customers, with 61% of respondents deeming it important. 37% of these shoppers picked encouraging the reduction of food waste as the top choice for a topic that our centers should focus on prioritizing for the environment. Increasing dining sustainability was also the top request to improve responsible consumption at Westfield malls. This interest in sustainability extends beyond food waste and into areas such as recycling, hybrid and electric vehicle use, and energy efficiency. According to a survey from Prosper Insights & Analytics , 38% of people said they would stop buying products from a brand found to be using energy wasting processes. These insights further guide and support our Better Places 2030 strategy and efforts to implement sustainable practices holistically, cultivating memorable experiences for customers every step of the way. Prosper - How Likey To Purchase Products From Brand Using Energy Wasting Processes Prosper Insights & Analytics Drenik: How do you anticipate Westfield and the retail industry at large will continue to evolve to meet this consumer demand for a sustainable business and products? Tierney: Sustainability-focused initiatives, products, and experiences will become increasingly vital and prevalent among retailers as the industry continues to discover that not only is this the right thing to do to meet consumer demand, but it’s also the right thing to do to help our environment and support better experiences for today’s shoppers and generations to come. With our Better Places 2030 strategy, Westfield is prepared to meet our customers where they are during this shift. We’re seeing a clear trend in how companies, especially retail and commercial real estate companies, are evolving to meet consumer demand for sustainable business and products. This is no longer a ‘nice to have.’ It’s a business imperative, and Westfield is at the forefront of leading this charge in our industry. Drenik: What advice can you give to companies and brands who are adapting their business to become more sustainable in an authentic and meaningful way? Tierney: In a recent Prosper Insights & Analytics survey when respondents were asked, “How do you engage with brands that are environmentally responsible?” almost a third of respondents said they spend more time with those brands because of their mission. As customers continue to ensure that sustainability and mission-oriented brands are pillars in their retail decisions and behaviors, there’s no doubt that companies will need to rise to meet this demand. To do so authentically, this evolution needs to begin from the ground up, accounting for the organizational systems and fundamental building operations that play a role in the broader sustainability strategy that companies and brands boast. From the building materials and energy sources that power a company’s location, to the partners they choose to conduct business with, every decision counts and every step to support sustainability goals matters. Our survey findings further illustrated this, highlighting the emphasis that Westfield shoppers place on staying true to their eco-conscious consumerism – from the dining table to the checkout counter in the mall. Prosper - Engage With Brands Environmentally Responsible Prosper Insights & Analytics Drenik: Thank you for sharing these survey results, Tom, and for providing a closer look at Westfield’s sustainability initiatives, the prioritization of eco-conscious retail among today’s consumers, and your predictions and advice for the future of the retail industry as it continues to shift toward more sustainable practices and a more environmentally friendly future. I look forward to continuing to watch organizations like you enact positive change and put the needs of the environment and your customers at the forefront. Check out my  website .

  • When was Westfield founded?

    Westfield was founded in 1959.

  • Where is Westfield's headquarters?

    Westfield's headquarters is located at Level 29, Sydney.

  • What is Westfield's latest funding round?

    Westfield's latest funding round is Merger.

  • Who are the investors of Westfield?

    Investors of Westfield include Unibail-Rodamco-Westfield.

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