Retail landlords have drawn up a 10-point plan to cut costs and pass the savings on to retailers.
The plan, which will be piloted at four shopping centres, includes measures to reduce costs in areas such as cleaning, waste management, security, administration, maintenance, utilities, customer service and marketing, according to the Financial Times.
The move comes as retailers struggle under rising property costs as customers rein in their spending.
“Where costs can be reduced, it is going to be beneficial to both the retailers and landlords,” said Sir Philip Green, boss of Arcadia group, a participant in the scheme.
Last week small businesses celebrated the Government’s decision to spread over three years a 5% increase in business rates that came into force on 1 April.