The great location conundrum
Martin Summerscales, Calibrate Product Manager, looks at how to use data to pinpoint the best location for your retail business
Retail is changing. And with change comes adaptation. Stores need to work harder than ever to appeal to consumers, and store location and experience are vital.
For retailers making decisions in a tough environment, data and intel is more valuable than ever to steer their strategies.
A shift in consumer shopping habits has impacted the retail landscape. The growth of ecommerce, economic and political factors and consumers spending preferences are all contributing factors.
But while consumer habits have changed, brand experience is still important for shoppers. Bricks and mortar retailing is still necessary, and retailers must think harder than ever in determining where these stores should be.
Big data enables investors and retailers to understand where shoppers live and work, as well as where, when and why they shop.
Combine consumer intelligence with locational insights and you can build a view of the property and retail landscape.
How CBRE can help:
CBRE is a pioneer in driving big data to put the industry one step ahead of changing consumer dynamics. CBRE’s Retail Consultancy team combine in-depth real estate knowledge with Calibrate to access the digital footprints of more than 15 million mobile phone users. Our team can then build an unrivalled picture of consumers and their spending behaviours.
Big data enables investors and retailers to understand where shoppers live and work, as well as where, when and why they shop
Powered by retail analytics, Calibrate provides invaluable insight into shoppers’ demographics, their propensity to shop in store or online, their preferred retailing and leisure habits.
Calibrate also paints an in-depth perspective of individual consumers at their destination of choice, including when and how often they visit, and invaluable competitor insight based on where else they are shopping and when as well as whether consumers travelled from overseas to decipher hotspots for particular tourist groups.
A breakthrough in retail real estate, Calibrate gives occupiers, asset managers and investors the insight they need to make informed investment decisions that drive higher sales, maximise potential and mitigate risk.
Calibrate: a snapshot:
CBRE Calibrate: what can we tell you?
- Who: Detailed insight paints a picture of consumers’ shopping and leisure habits and demographic attributes.
- International: We can also monitor where consumers are coming from, including if they are visiting from outside the UK.
- Movements: We track consumer interaction to identify the hotspots around your assets.
- When: We can tell you when consumers visit a location, and how often.
- Where: We can provide invaluable insights into consumer movements.
- Work: With a clear understanding of common daytime locations, we also have commuting data.
Combined with our Retail Consultancy service, Calibrate lifts the lid on where the consumers that matter to your business spend their money. Calibrate ensures every one of your retail decisions is underpinned by scientific insights, not only into specific assets but the impact your competitors’ own strategies have on current and prospective customers.
Calibrate lifts the lid on where the consumers that matter to your business spend their money. Calibrate ensures every one of your retail decisions is underpinned by scientific insights, not only into specific assets but the impact your competitors’ own strategies have on current and prospective customers.