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Copyright© 2009 Buxton Company. All Rights Reserved. Economic Development Anniston, Alabama Economic Development Anniston, Alabama June 23, 2009.

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Presentation on theme: "Copyright© 2009 Buxton Company. All Rights Reserved. Economic Development Anniston, Alabama Economic Development Anniston, Alabama June 23, 2009."— Presentation transcript:

1 Copyright© 2009 Buxton Company. All Rights Reserved. Economic Development Anniston, Alabama Economic Development Anniston, Alabama June 23, 2009

2 Success is insight. Retail is in Our DNA Industry Leader in Customer Analytics 1,400+ Retail & Restaurant Clients 450+ Public Sector Clients 20M+ square feet of retail expansion by our community clients Daily interface with senior retail real estate executives We Speak Retail!

3 Success is insight. Our Clients Retail Clients – 1,400+ Community Clients – 450+ Healthcare Clients – 100+

4 Success is insight. City of Anniston’s Purpose To better understand the retail environment and opportunities for the City Application Anniston now has a better understanding of its retail trade area, customer base and retail potential. The city can move forward with a very focused retail strategy to capture retailers that are appropriate for its customers. City’s Goals

5 Success is insight. Executive Summary The following sites were submitted to Buxton for preliminary analysis: –Choccolocco Rd & Golden Springs Rd –Greenbrier-Dear Road & South Quintard –McClellan Blvd & New Summerall Gate Rd –15 th Street & Noble Street 15 th Street & Noble Street and Choccolocco Rd & Golden Springs Rd. were then used for complete analysis and retail matching.

6 Success is insight. Key Steps in Strategy Development Step 1. Defining Trade Area Step 2. Identifying and Profiling Customers Step 3. Understanding Retail Potential Step 4. Matching Customers to Retailers Step 5. Creating Customized Marketing Packages

7 Success is insight. Step 1. Defining Trade Area A 10 minute drive time was established for each Site. Factors considered when selecting the drive time include: Region Existing retail in surrounding areas Density of the community

8 Success is insight. Step 2. Identifying and Profiling Customers Customers are identified based on psychographic characteristics which include: Lifestyles Purchase Behavior Media Habits For retailers: It’s Customers, Not People

9 Success is insight. All U.S. households fall into 1 of 66 psychographic segments Segmentation

10 Success is insight. Psychographics focus on Customer Lifestyles Lifestyles Middle-class couples, 50-60 years old Own home in a small-town Have a granola-and-grits lifestyle Read Country Living, Gourmet, Forbes Buy recreational vehicles and campers Segment 28 Traditional Times

11 Success is insight. Psychographics focus on Customer Lifestyles Lifestyles Young, restless singles Lower income, high school educated Rent tiny apartments in exurban towns Service industry jobs and modest incomes Lifestyles centered on sports, cars, dating Segment 48 Young & Rustic

12 Success is insight. Psychographics focus on Customer Lifestyles Lifestyles Retired singles and couples, downscale incomes Elementary or high school education Live in pre-1960 housing in aged mining towns Enjoy gardening, sewing Socialize at veterans clubs, eat at casual restaurants Segment 57 Old Milltowns

13 Success is insight. Step 2. Identifying And Profiling Customers Within The Choccolocco Rd and Golden Springs Rd 10 Minute Trade Area Trade Area Segmentation – Psychographic profile of customers within the trade area Dominant Segments – Psychographic segments that make up at least 3% of the trade area

14 Success is insight. Step 2. Identifying And Profiling Customers Within The 15 th Street and Noble Street 10 Minute Trade Area Trade Area Segmentation – Psychographic profile of customers within the trade area Dominant Segments – Psychographic segments that make up at least 3% of the trade area

15 Success is insight. Example of Major Store Type. Buxton analysis details: 74 Store Types 36 Product Types Step 3. Understanding Retail Potential Choccolocco Rd and Golden Springs Rd 10-Minute Retail Leakage/Surplus Analysis  How many dollars are leaving  What stores attract outside dollars  How strong is our retail sector  What are our retail opportunities  What are the opportunities for local retailers

16 Success is insight. Step 3. Understanding Retail Potential 15 th Street and Noble Street 10-Minute Retail Leakage/Surplus Analysis  How many dollars are leaving  What stores attract outside dollars  How strong is our retail sector  What are our retail opportunities  What are the opportunities for local retailers Example of Major Store Type. Buxton analysis details: 74 Store Types 36 Product Types

17 Success is insight. Step 4. Matching Customers to Retailers The Trade Area profile was matched to the profiles of over 4,500 retailers and restaurants. A wide variety of categories were identified as good opportunities for Anniston’s trade area, including: Children’s Apparel, Furniture/Beds Shoes Sporting Goods/Athletic Apparel Book Stores, CD/Music Hardware/Home Improvement Supermarkets

18 Success is insight. Executing Anniston’s Retail Strategy Marketing is not an option – it’s mandatory Market Anniston’s Retail Advantages: Location (Trade Area) Retail Potential (Leakage/Surplus report) Retailer’s customers in your trade area (Retail Match Report) Your site compared to other locations (Retail Match Report)

19 Success is insight. Step 5. Creating Custom Marketing Packages Contact Information Profile Match Reports Site Description Supporting Maps Marketing Packages can also be created for developers, brokers, and franchisees.

20 Success is insight. CommunityID SCOUT 2.0 Enter SCOUT together with your target retailer Click to show your site Click to show the retailer’s dominant segment households Click to show your trade area Click to show Google aerial map Click to show zoomed in aerial map Click Match Report to show the retailer you are their target market Market your community using SCOUT’s dynamic online tools

21 Success is insight. CommunityID SCOUT 2.0 Create a Leakage/Surplus Analysis Report at any point in your community Enter SCOUT Locate a site for a Leakage Surplus report Fill in the required field, select type of trade area and click Run. Right click your mouse and select Run Retail Leakage/Surplus Report Here When the report is completed, select “View Report” or “Save Report.”

22 Success is insight. 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

23 Success is insight. There is no single marketplace… Aggressively Market To: Targeted Retailers Retail Developers Commercial Real Estate Firms Shopping Center Owners International Council of Shopping Centers (Las Vegas and regional events) Executing Anniston’s Retail Strategy

24 Success is insight. Executing Anniston’s Retail Strategy Creating a retail friendly climate Assembling and preparing sites Streamlining permitting and zoning Providing targeted incentives Offering opportunities for existing retailers via Leakage data

25 Success is insight. Use Buxton to stay current Client E-newsletter SCOUT- online marketing tool Educational Webcasts ICSC Support Client Services Team Additional Retail Matches and Data Updates Executing Anniston’s Retail Strategy

26 Success is insight. ®


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