Tools For Identifying & Recruiting Retail Who Is Buxton? Largest provider of customer analytics solutions Analyzed every type of retail, restaurant, healthcare and service concept Over 5 billion square feet of analysis in 2007 Over 1,700 clients including retailers, restaurants, developers and communities Recognized as a Fast Company Fast 50 Company in 2005 Assisted more than 400 public sector clients develop millions of square feet of retail Some of Buxton’s Clients What is CommunityID? Retailer Matching Matches the specific retail and restaurant concepts to the buying habits and lifestyles of the consumers living in your trade area Unique Program Is the only program of its kind that can factually identify exactly which concepts should be in your community Where is CommunityID? CommunityID Engagements 400+ Public Sector clients in 38 States Buxton Engagements in Ohio Montgomery County (Joe Tuss – ED Director) Mentor (Ron Traub – Director of ED) Kent (Dave Ruller – City Manager) Miami Township (Dave Duckworth – Township Administrator) Benefits of a Strong Retail Sector Enhances residents’ lifestyles with more shopping and dining choices Increases sales and property taxes Decreases retail leakage New, permanent jobs Expands economic opportunities by attracting more people and businesses Step 1: Identify The Trade Area City Limit Trade Area City Limit 2003 Est. Population 27,365 Population Growth, 1990-2000 10.49% 2003 Est. Households 9,947 2003 Average Household Income $61,537 2003 Residential Property Value $207,057 Ring Trade Area 8 Mile Ring 2003 Est. Population 62,596 Population Growth, 1990-2000 15.52% 2003 Est. Households 15,715 2003 Average Household Income $61,788 2003 Residential Property Value $211,085 Retailers Locate Near Customers Customers think in terms of time and convenience… they “think” drive time. 1 Min 3 Min Shortest route is calculated in minutes for each customer 4 Min 2 Min Drive Time Trade Area 15-Minute Drive Time 2003 Est. Population 71,483 Population Growth, 1990-2000 19.47% 2003 Est. Households 25,583 2003 Average Household Income $62,119 2003 Residential Property Value $218,544 Trade Areas City Limits 8 Mile Ring 15 Minute Drive Time Households 9,947 15,715 25,583 Retail Potential $450 million $750 million $1 billion Restaurant Sales $41 million $64 million $100 million Automobile Sales 3,243 vehicles 4,522 vehicles 6,968 vehicles Step 2: Identify The Customer Demographic Methodology Traditionally, locations were selected based on: Age 2004 PROJECTION 1999 ESTIMATE 1990 CENSUS 1980 CENSUS GROWTH 1980 - 1990 2004 PROJECTION 1999 ESTIMATE 1990 CENSUS 1980 CENSUS GROWTH 1980 - 1990 2004 PROJECTION 1999 ESTIMATED POPULATION BY RACE 1999 ESTIMATE WHITE 1990 CENSUS BLACK 1980 CENSUS ASIAN & PACIFIC ISLANDER GROWTH OTHER RACES1980 - 1990 2004 PROJECTION 1999 ESTIMATED POPULATION 1999 ESTIMATE HISPANIC ORIGIN 1990 CENSUS OCCUPIED UNITS 2004 PROJECTION OWNER 1980 OCCUPIED CENSUS 1999 ESTIMATE RENTER OCCUPIED GROWTH 1980 - 1990 1990 CENSUS 1991 PERSONS PER HH 1999 ESTIMATED POPULATION BY RACE 1980 CENSUS 1999 EST. HOUSEHOLDS BY INCOME WHITE $150,000 OR MORE GROWTH 1980 - 1990 BLACK $100,000 TO $149,999 2004 PROJECTION ASIAN PACIFIC ISLANDER $ 75,000 TO $&1999 99,999 ESTIMATE Sex Race 335,270 317,227 288,000 251,960 14.30% 112,977 106,024 95,664 80,666 18.59% 335,270 317,227 317,227 38.25% 288,000 48.93% 251,960 0.90% 14.30% 11.92% 112,977 317,227 106,024 18.41% 95,66495,664 61.02%80,666 38.98% 18.59% 2.98 317,227 106,024 38.25% 4.03% 48.93% 8.57% 13.07%0.90% Income OTHER RACES 1990 CENSUS 1999 ESTIMATED POPULATION 1980 CENSUS 2004 PROJECTION HISPANIC ORIGIN GROWTH 1980 - 1990 1999 ESTIMATE OCCUPIED UNITS 1999 ESTIMATED POPULATION BY RACE OWNER OCCUPIED 1990 CENSUS WHITE RENTER OCCUPIED 1980 CENSUS BLACK 1991 PERSONS PER HH 1980 - 1990 GROWTH ASIAN & PACIFIC ISLANDER 1999 EST. HOUSEHOLDS BY INCOME 2004 PROJECTION OTHER RACES $150,000 OR MORE 1999 ESTIMATE 1999 ESTIMATED POPULATION $100,000 TO $149,999 1990 CENSUS HISPANIC ORIGIN $ 75,000 TO $ 99,999 1980 CENSUS OCCUPIED UNITS $ 50,000 TO $ 74,999 GROWTH 1980 - 1990 OWNER OCCUPIED $ 35,000 TO $ 49,999 1999 ESTIMATED POPULATION BY RACE RENTER OCCUPIED $ 25,000 TO $ 34,999 WHITE 1991 PERSONS PER HH BLACK 1999 EST. HOUSEHOLDS BY INCOME ASIAN & PACIFIC ISLANDER $150,000 OR MORE OTHER RACES $100,000 TO $149,999 1999 ESTIMATED POPULATION $ 75,000 TO $ 99,999 HISPANIC ORIGIN $ 50,000 TO $ 74,999 OCCUPIED UNITS $ 35,000 TO $ 49,999 OWNER OCCUPIED $ 25,000 TO $ 34,999 RENTER OCCUPIED 1991 PERSONS PER HH 1999 EST. HOUSEHOLDS BY INCOME $150,000 OR MORE $100,000 TO $149,999 $ 75,000 TO $ 99,999 $ 50,000 TO $ 74,999 $ 35,000 TO $ 49,999 $ 25,000 TO $ 34,999 11.92% 317,227 18.41% 95,664 61.02% 38.98% 2.98 106,024 4.03% 8.57% 13.07% 21.87% 16.16% 11.44% 203,595 191,531 168,911 124,794 35.35% 70,933 66,197 58,156 40,242 44.52% 203,595 191,531 191,531 50.97% 168,911 41.02% 124,794 1.96% 35.35% 6.05% 191,53170,933 11.30%66,197 58,15658,156 335,270 62.99%40,242 317,227 37.01% 44.52% 288,000 2.88 191,531 251,960 66,197 50.97% 7.21% 14.30% 41.02% 11.61% 112,977 15.67%1.96% 106,024 180,704 171,169 155,053 130,920 18.43% 61,090 57,315 51,452 39,015 31.88%180,704 171,169 171,169 35.23% 155,053 58.74% 130,920 0.74% 5.29%18.43% 171,16961,090 8.96%57,315 51,45251,452 203,595 62.58%39,015 191,531 37.42%31.88% 168,911 2.98 171,169 124,794 57,315 35.23% 4.10% 35.35% 58.74% 9.41% 70,933 0.74% 13.86% 66,197 38,737 33,401 25,170 19,579 28.56% 13,189 11,341 8,688 6,626 31.12%38,737 33,40133,401 74.57% 25,170 13.50% 19,579 0.38% 11.55%28.56% 33,40113,189 17.93%11,341 8,688 8,688 180,704 38,737 63.00% 6,626 171,169 37.00%31.12% 33,401 155,053 2.8133,401 25,170 130,920 19,579 11,341 74.57% 3.78% 18.43% 28.56% 13.50% 6.71% 61,090 13,189 0.38% 10.85% 57,315 11,341 6.05% 5.29% 11.55% 95,664 58,156 51,452 8,688 191,531 171,169 33,401 80,666 40,242 39,015 6,626 335,270 203,595 180,704 38,737 11.30% 8.96% 17.93% 18.59% 44.52% 31.88% 31.12% 317,227 191,531 171,169 33,401 58,156 51,452 8,688 317,227 191,531 171,169 33,401 62.99% 62.58% 63.00% 288,000 168,911 155,053 25,170 38.25% 50.97% 35.23% 74.57% 37.01% 37.42% 37.00% 251,960 124,794 130,920 19,579 48.93% 41.02% 58.74% 13.50% 2.88 2.98 2.81 14.30% 35.35% 18.43% 28.56% 0.90% 1.96% 0.74% 0.38% 66,197 57,315 11,341 112,977 70,933 61,090 13,189 11.92% 6.05% 5.29% 11.55% 7.21% 4.10% 3.78% 106,024 66,197 57,315 11,341 317,227 191,531 171,169 33,401 11.61% 9.41% 6.71% 95,664 58,156 51,452 8,688 18.41% 11.30% 8.96% 17.93% 15.67% 13.86% 10.85% 80,666 40,242 39,015 6,626 95,664 58,156 51,452 8,688 23.51% 23.03% 21.28% 18.59% 44.52% 31.88% 31.12% 61.02% 62.99% 62.58% 63.00% 15.04% 15.81% 13.18% 317,227 191,531 171,169 33,401 38.98% 37.01% 37.42% 37.00% 9.95% 10.81% 13.82% 38.25% 50.97% 35.23% 74.57% 2.98 2.88 2.98 2.81 48.93% 41.02% 58.74% 13.50% 106,024 66,197 57,315 11,341 0.90% 1.96% 0.74% 0.38% 4.03% 7.21% 4.10% 3.78% 11.92% 6.05% 5.29% 11.55% 8.57% 11.61% 9.41% 6.71% 317,227 191,531 171,169 33,401 13.07% 15.67% 13.86% 10.85% 18.41% 11.30% 8.96% 17.93% 21.87% 23.51% 23.03% 21.28% 95,664 58,156 51,452 8,688 16.16% 15.04% 15.81% 13.18% 61.02% 62.99% 62.58% 63.00% 11.44% 9.95% 10.81% 13.82% 38.98% 37.01% 37.42% 37.00% 2.98 2.88 2.98 2.81 106,024 66,197 57,315 11,341 4.03% 7.21% 4.10% 3.78% 8.57% 11.61% 9.41% 6.71% 13.07% 15.67% 13.86% 10.85% 21.87% 23.51% 23.03% 21.28% 16.16% 15.04% 15.81% 13.18% 11.44% 9.95% 10.81% 13.82% Problems with Demographics Demographic data is too general and too stale Identifies people not customers Does not explain what people like to buy Does not define a true trade area Not driving most retailers location decisions May do more harm than good… Psychographics, not Demographics It’s Customers, not People Now, customers can be identified based on: Lifestyles Purchase behavior Media habits Buxton Data 35 terabytes of data on over 120 million households Managed In-House 250 In-House Data Sources Consumer Data Trade Potential Business Data Shopping Centers Segmentation Restaurant Data Demographics Automobile Data Consumer Profiles Telecommunications Street Data Segmentation All U.S. households fall into 1 of 66 psychographic segments 4 3 2 1 0 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 Purchase Behavior Psychographics focuses on Customer Lifestyles Media Habits Purchasing Behavior 4 3 Segment 29 American Dreams Item # Lifestyle Characteristics Index 1 Eat at California Pizza Kitchen 222 2 Shop at Costco 186 3 Read Newsweek 140 4 Shop at Old Navy 135 5 Buy Women's Sweaters,$100+ 124 Over 4500 individual categories available 2 1 0 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 Census Profile Age: Income: Ethnicity: Marital Status: Kids: Education: Customer One Customer Two 40 Year Old Male $102,000 Income Caucasian Married 2 Children Post-graduate degree 44 Year Old Male $110,000 Income Caucasian Married 3 Children College Graduate Psychographic Profile Owns: Eats: Reads: Watches: Drives: Drinks: Customer One Customer Two iPod Boston Market Barron’s PGA Tour BMW 5 Series White Wine Power Boat Chili’s Grill & Bar Field & Stream Country Music TV Dodge Ram Bud Light Remember: Customers, Not People Trade Area “A” Trade Area “B” Total Households: 36,087 Total Households: 96,540 Ben & Jerry’s Customers: 14,443 Ben & Jerry’s Customers: 14,540 Total households Customers Step 3: Match The Customers to Retailers Retailer Profile 9 Ben & Jerry’s Percent 6 3 0 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 Segment Dominant Segments Trade Area Profile These segments represent the dominant segments for Ben & Jerry’s Dominant Segments Trade Area Matches Retailer Trade Area Comparison Ben & Jerry’s Average Trade Area Anytown, USA Site Trade Area Total Population 58,975 71,483 Total Households 20,219 25,583 Ben & Jerry’s Dominant Segment Count 9,205 15,350 Dominant Segments Trade Area Does Not Match Retailer Trade Area Comparison AutoZone Average Trade Area Anytown, USA Site Trade Area Total Population 74,260 71,483 Total Households 27,269 25,583 AutoZone Dominant Segment Count 9,595 5,361 Dominant Segments Step 4: Tools for Selling The Trade Area Retail Leakage/Surplus Analysis How many dollars are leaving What stores attract outside dollars How strong is your retail sector What are our retail opportunities Example of Major Store Type. Buxton analysis includes details within Major Store Types and analysis by Product Type Sample Tenant Match Retailer and Restaurant Preferred GLA (sq, ft) Ben & Jerry’s 600-1,200 Best Buy 18,000 – 40,000 Blockbuster Video 2,500 – 4,800 California Pizza Kitchen 2,500 – 6,000 Casual Male 3,000 – 5,000 Chili’s Grill & Bar 5,000-7,000 Cinnabon 800 Famous Footwear 8,000-10,000 FedExKinko’s 300 – 3,000 Gap 2,750 – 16,800 Hallmark 3,500 – 5,000 Limited 1,000 – 5,000 New Balance 2,500 – 3,500 Staples 10,000 – 25,000 Starbucks 100 – 2,000 Subway 300 – 1,500 Target 126,000 – 175,000 U.S. Cellular 1,800 Walgreen’s 14,560 Zales 1,500 – 1,600 Custom Pursuit Packages – Sample Score Sheet 12 12 XYZCompany Company XYZ PotentialLocation Location Potential 9 9 66 33 12 12 16% XYZ Company Potential Location XYZ Company Potential Location 9 9 12% 6 8% 6 00 11 3 4% 3 33 55 77 99 11 11 13 13 15 15 17 17 19 19 21 21 23 23 25 25 27 27 29 29 31 31 33 33 35 35 37 37 39 39 41 41 43 43 45 45 47 47 49 49 51 51 53 53 55 55 0 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 57 59 61 63 65 0% 0 1 3 15 37 59 711 913 1115 131715 1917 2119 2321 25 23 27 25 29 27 29 31 31 51 53 53 55 55 57 57 33 33 35 35 37 37 39 3941 4143 434545 4747 4949 51 15,350 59 59 61 61 63 63 65 65 Speak the Retailer’s Language 57 57 59 59 61 61 63 63 65 65 Custom Pursuit Packages – Sample Score Sheet 15,350 16% 12% 8% 4% 0% 1 3 5 7 9 11 13 15 17 19 21 23 25 27 29 31 33 35 37 39 41 43 45 47 49 51 53 55 15,350 57 59 61 63 65 CommunityID SCOUT 2.0 Market your community using SCOUT’s dynamic online tools Enter SCOUT together with your target retailer Click to show your site Click to show the trade area Click to show the retailer’s dominant segment households Click Match Report to show the retailer you are their target market CommunityID SCOUT 2.0 Market your community using SCOUT’s dynamic online tools Click on a Retailer Marketing Package to show all the data relative to the target retailer and your community You can send this and other reports electronically to your prospect Ongoing Client Support Buxton @ ICSC Spring Convention Ongoing Client Support Buxton @ ICSC Spring Convention Summary Identify The Trade Area Identify The Customers Match The Customers to Retailers Aggressively Market to Matching Retailers Get Retailers & Developers Interested Bring New Retail to Your Community Sample Projects Downtown San Jose, CA One of the most affluent trade areas in America Many restaurants, NO retail Daytime Profile overlaid onto Residential profile to see if any retailers fit Can we build a case for Border’s? Yes! Benchmarked downtown against Long Beach and San Diego (perceived competitors for retail) Midtown Alliance – Atlanta, GA Retail Analysis for Peachtree Street Corridor – The “next Michigan Avenue?” High growth residential development Adjacent to Georgia Tech campus – what is the impact of the college student? Huge increase in daytime population – who are these people? Downtown San Diego Partnership Profiled eight distinct neighborhoods – both residents and work place Psychographic Profiling and Analysis of Petco Park (San Diego Padres) visitors Padres provided specific data sets for analysis: Season ticket holders, suite ticket holders, single game walk up purchases, internet purchases, etc. “Game Day Profile” - We can then overlay the Padres customer profile onto the existing trade area profile Barriers to Downtown Retail Identifying the customer – who is it? Parking, Access, Visibility Assembling viable sites Unmotivated property owners Unmotivated brokers Existing retail outside of downtown