CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}
the-power-of-data-hero the-power-of-data-mobile-hero

The Power of Data & Advisory in Retail Real Estate 

Consumer demands have evolved beyond traditional apparel, accessories, and footwear to encompass innovative experiences, services, and food and beverage concepts. To thrive in this fiercely competitive and rapidly evolving landscape, retailers must embrace data-driven strategies along with expert advisory services to inform their real estate decisions. From analyzing mobility patterns to delving into e­commerce analytics, retailers can harness data's contextual power to create an impactful real estate strategy that drives long-term success. 

By leveraging data and advisory, strategic retailers are able to: 

  1. Identify Market Entry & Expansion Opportunities  
    In 2023, the U.S. witnessed 5,645 new store openings, marking the second consecutive year of openings surpassing closures, according to Coresight Research. This outpacing trend is expected to continue into 2024 with an estimated 5,500 new stores opening. With so many brands in expansion mode, the practical application of complex data is crucial for retailer success. Demographics and consumer segmentation analytics enable a deeper understanding of the demand within submarkets, while competitive benchmarking data provides strategic growth opportunities and insights into market saturation. Significant changes in migration patterns have heightened the importance of understanding emerging retail markets for store relocations or lease renegotiations. Additionally, this data also informs decisions on new products or store renovations to ensure continued alignment with consumer preferences.  

  2. Drive Optimal Co-Tenancy  
    As highlighted in our Main Streets Across the World report, experience, purpose, and convenience are all elements that can define a shopping mission. By gaining a deep understanding of consumer segmentation, purchasing preferences and content affinity, brands can paint a detailed picture of their consumer and build deep insights around their core customer base. This knowledge empowers retailers to strategically position themselves to capitalize on cross-shopping opportunities from similar consumer demographics or complementary products and services, further enhancing shopping center foot traffic, extending the duration of stay, and thereby enabling brands to foster a more personalized consumer experience. 

  3. Optimize Real Estate for Maximum ROI  
    According to recent research by TCS OmniStore, most retailers understand the importance of unified commerce, but only 3% of retailers currently provide a ‘truly unified experience.’ A holistic review of a brand’s real estate portfolio can ensure synergy between physical stores, wholesale partnerships, retail media and e-commerce channels. By combining various datasets with critical thinking, retailers can identify underperforming stores, address operational challenges, and implement targeted solutions. E-commerce data provides valuable insights into consumer behavior, which can be leveraged to forecast product demand and guide decisions on the location, size and configuration of distribution centers. Ultimately, an integrated approach leads to better operational efficiencies and overall cost savings, highlighting the importance of data and advisory services in optimizing real estate. 

While leveraging data and analytics is crucial for a successful real estate strategy, it is equally important to possess the knowledge, experience, and critical thinking skills to analyze this information effectively. Complex real estate portfolios require complex solutions. Only by distilling raw data into actionable insights can retailers drive long-term viability in a competitive market landscape. Our Retail Location Analytics & Strategy team stands ready to provide the expertise and support necessary to navigate the complexities of uncovering your next store location and achieving your goals.  Contact Jim Kierski for more information.

Subscribe to Retail Insights
Get the latest Cushman & Wakefield Retail research delivered to your inbox.
Subscribe

 

Related Insights

U.S. National Retail MarketBeat Report (image)
MarketBeat

U.S. Shopping Center Reports

Access the latest quarter commercial real estate results for the retail sector nationally. MarketBeat reports analyze quarterly market activity including supply, demand and pricing trends.
James Bohnaker • 10/10/2024
retail
Research

2024 U.S. Retail Fit Out Cost Guide

Cushman & Wakefield’s 2024 U.S. Retail Fit Out Cost Guide provides guidance on current construction costs across major U.S. regions and markets.
Brian Ungles • 1/30/2024
main streets across the world 2023
Research

Main Streets Across the World 2023

In this 33rd edition of Main Streets Across the World, we explore the near-term outlook for the retail sector and headline rents and rankings for best-in-class urban locations across the globe.
Barrie Scardina • 11/21/2023

Interested in learning more?

Get in touch and we can assist with any additional information you need.

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on  Cookies

More Options
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS