Business Owner Speaker Series – Data Driven Retail Development

Ken Wimberly, CCIM attended a very informative presentation on October 28th about retailers and healthcare providers using Big Data for informed site selection for their growth plan. Here are the highlights from the presentation:

Presenters

Lisa McCay – VP of CommunityID – Buxton Company
Cody Howell – VP & GM Public Sector Solutions – Buxton Company

Buxton is both in the RETAIL and HEALTHCARE space by using analytic data to make strategic location decisions.

WHO – Who are your best potential customers
WHERE – Where will your best potential customers be found
VALUE – What is the Value of your best potential customers

Economic Impact of Retail in Texas

  • 5 Million+ jobs
  • 316,748 Retail Establishments
  • $223.7 Billion in Total GDP Impact

81,396 – the number of stores expected to open in the next 2 years (Retail Traffic)

Store footprints are changing – Small is the new Big

  • More efficient
  • New growth opportunities
  • Target’s new concept is half the size of its current stores today

Online shopping is UP 9-12% in 2014 (NRF)
However, people still want to touch and feel the merchandise.
Amazon is putting brick & mortar stores on the ground

Fastest Growth Categories

  • Grocers (Trader Joe’s, Fresh Market, Sprouts; Merger between Albertson’s & Safeway)
  • Fast Causal Restaurants
  • Fitness
  • Entertainment

3.6% – Growth in restaurants overall
10% – Growth in Fast Casual restaurants

Buxton is finding that almost every city wants a microbrewery!

Challenges Facing Retailers

  • Difficulty finding prime real estate
  • Increased competition
  • Lack of onmnichannel strategy
  • Bad Investments