Next generation data: “Consumeristics”
Today, retail property investors use trade area and mileage rings and make assumptions on what market share of each person in that demographic region will frequent a local shopping center. Those are old school metrics that rely on assumptions versus empirical data available today that can pinpoint, pun intended, who is in the center, where else they shop and what other lifestyle choices are important to them. It’s no longer about demographics, as companies shift to now evaluate “consumeristics,” the behavior of your shopper. Consumeristics is the in-depth study of consumers and their behaviors, derived from the root word consumption.
PinPoint helps owners create new leasing strategies tailored to a center’s shoppers, heighten the value of an investment analysis by showing your true center traffic, and ultimately attract new shoppers and increase sales through targeted marketing. It also helps retailers understand where their customers are actually coming from to avoid location cannibalization.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with operations in over 80 countries and a global workforce of 88,000 as of September 30, 2018. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com