FORT WORTH—As has been widely reported, Pier 1 is facing the endof its road. Foot traffic analytics firm, Placer.ai, recentlyanalyzed pre-COVID performance and post-pandemic implications todetermine Pier 1's closure beneficiaries.
When attempting to identify the brands with the highestlikelihood to gain from these closings, one effective mechanism isto look at cross-shopping patterns. To do so, Placer.ai analyzedcross-shopping percentages between January through May in 2018,2019 and 2020 to create a rough idea of which brands may be bestpositioned to take in Pier 1's former customer base.
Pier 1 has a significantly higher proportion of visitors comingfrom another retail location before visiting and a higherpercentage of visits going to another retailer after. Thesecross-shopping patterns can be especially important for this typeof brand, which shows a strong element of being part of amulti-trip journey.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
