Your SlideShare is downloading. ×
0
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Urban Retail Solutions:Catherine Timko: Developing a Winning Retail Strategy

207

Published on

Catherine Timko is the Founding partner, Community Retail Catalysts & Principal at The Riddle Company. Timko has more than 25 years of experience in community and economic development. She is the dean …

Catherine Timko is the Founding partner, Community Retail Catalysts & Principal at The Riddle Company. Timko has more than 25 years of experience in community and economic development. She is the dean for Economic Development for ICSC’s University of Shopping Centers. She has been involved in more than 75 downtown planning and marketing projects nationwide.

Published in: Business, News & Politics
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total Views
207
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
5
Comments
0
Likes
0
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Developing A Winning Retail Strategy
  • 2. Connecting Communities to Retail Development It is increasingly complex and challenging for communities and retailers alike to explore, initiate and structure relationships yielding the successful results they both want and need
  • 3. State of The Industry Paradigm shift in retail real estate industry • Competition for opportunistic sites is fierce • Projects still stalled, even at a standstill • Major demographic shifts • Urban markets appealing • Retailers refining their models prototypes
  • 4. State of The Industry
  • 5. State of The Industry
  • 6. State of The Industry
  • 7. Building a Sustainable Retail Base • Fundamentals of retail & real estate development paramount • Pursue a market based approach to retail attraction • Determine what your community can support • Package information to create a powerful – competitive position • Garner political will and local support • Collaborate with local industry leaders • Develop relevant tools and incentives to support existing and new retailers
  • 8. Create a Collective Vision • Understand your market, create your story • Create a strategy for retail- what do you want and how will you get there • Meet one on one with every property owner to help sell the vision and get buy-in • Work to collect information on every property/lease hold information • Educate, communicate and market the vision to get community/policy leader buy-in
  • 9. Where to Begin • Collect basic economic data about your specific geographic market - get from your city demographer, or large brokerage firm to determine potential retail demand • Create a vision for the retail area, work with a retail professional/consultant to confirm to create a merchandise mix and implementation strategy • Identify key retail street/area, collect retail square footage numbers - net rentable sq. footage, lease information, build a database with contact information, photos, etc. • Create simple marketing materials to support findings and help sell the vision to owners and potential retail clients • Begin recruiting retailers who fit the mix
  • 10. The Market Based Approach • Effectively Use Data and Intel to build a Market Based Approach • Determine what your community can realistically support. • Package information to create a powerful competitive position and keep it current and accessible • Track retail and market trends • Know your market •
  • 11. Manage Expectations
  • 12. Retail Site Selection Factors Traditional Three primary factors • Demographics • Income levels (household and disposable) • Competition Secondary • Market segmentation • Traffic patterns and travel times • Daytime population • Cost of land • Tax burden
  • 13. Site Selection Unexpected Real Estate Barometers • Urban - transit oriented development • Gentrification • High density areas • Aging populations • Overlapping markets - • Walkable environments • Minority populations • Women – the mom factor
  • 14. Tools of the Trade .
  • 15. Trade Areas
  • 16. Demand Analysis Leakage/Surplus Factor by Industry Group Leakage/Surplus Factor 1009080706050403020100-10-20 Drinking Places (Alcoholic Beverages) Special Food Services Limited-Service Eating Places Full-Service Restaurants Direct Selling Establishments Vending Machine Operators Electronic Shopping and Mail-Order Houses Other Miscellaneous Store Retailers Used Merchandise Stores Office Supplies, Stationery, and Gift Stores Florists Other General Merchandise Stores Department Stores (Excluding Leased Depts.) Book, Periodical, and Music Stores Jewelry, Luggage, and Leather Goods Stores Shoe Stores Clothing Stores Gasoline Stations Health & Personal Care Stores Beer, Wine, and Liquor Stores Specialty Food Stores Grocery Stores Lawn and Garden Equipment and Supplies Stores Building Material and Supplies Dealers Electronics & Appliance Stores Home Furnishings Stores Furniture Stores Auto Parts, Accessories, and Tire Stores Other Motor Vehicle Dealers Automobile Dealers
  • 17. Access to Information
  • 18. Tools & Incentives • Tax abatements and rate reductions/deferments • Rent subsidies • Loan programs, grants for operations & improvements • Tax Increment Financing • Façade and infrastructure improvement programs • Retail and business training • Coordinated buying and marketing initiatives • Strategic merchandising planning • Tax holidays and free parking
  • 19. Recruitment vs. Retention Recruitment •Actively and systematically recruit new prospects to ensure leads in the pipeline •Create a strong story - from market demographics to the retail vision •Create tools for your retail toolbox •Hand holding & nurturing •Measure your success Retention •Knowing what is going on - how your current retailers are doing, •Business assistance and education programs •Collective public relations & marketing • Customer base/focus groups/surveys •Create/strengthen partnerships
  • 20. Maps & GIS
  • 21. Retail Attraction Toolkit • Retail marketing and attraction strategies utilizing traditional and nontraditional tools: – Implementation Programs Policies, programs and incentives – Site inventories Project profiles – Comprehensive editorial coverage Advertising and direct mail campaigns – Interactive Websites and portals General marketing and project brochures – Social networking GIS mapping & customer profiling, – Database Management & Plotting Customized tradeshow booths & marketing – Custom mapping • Demographic reports that demonstrate market strength and potential and showcase consumer preferences (standard reports, expenditure reports, graphic profiles and psychographic analysis) • Competitive analysis that shows how sites and communities compare to others
  • 22. Case Studies
  • 23. Philadelphia
  • 24. Testimonials
  • 25. Custom Research
  • 26. Current Development
  • 27. Relevant Indicators
  • 28. Pedestrian Counts
  • 29. Transit Use
  • 30. Restaurants/Cafes
  • 31. Benchmarking
  • 32. Targeted Indicators
  • 33. Deals
  • 34. Philadelphia Retail • National Tenants • Menswear • Big box tenants • Local retailers • Retail & manufacturing • Redevelopment
  • 35. Washington DC A Neighborhood Strategy
  • 36. Tactics & Tools • Great Streets Initiative – Retail loans – Façade Renovation – Transit • Anchor Strategy • Neighborhood based research • Public development opportunities • Housing
  • 37. Neighborhood Profiles
  • 38. Great Streets • Up to $2 million in gap funding currently available for individual projects • Over 1 million square feet of available retail space located along Great Streets corridors • Metrorail-accessible opportunities with 9 Metrorail stations located on Great Streets • More than $17 million in Great Streets grants and Tax Increment Financing awarded • More than $75 million spent on Great Streets streetscape improvements for the beautification of corridors GreatStreets.dc.gov
  • 39. Great Streets
  • 40. Anchor Strategy
  • 41. Vertical Density
  • 42. Focus on Design
  • 43. Focus on Design
  • 44. Mixed-Use TOD
  • 45. Adaptive Reuse
  • 46. Adaptive Reuse
  • 47. Think Outside The Box
  • 48. Think Outside The Box
  • 49. Think Outside The Box
  • 50. Think Outside The Box
  • 51. Think Outside The Box
  • 52. Think Outside The Box
  • 53. Short-Term Retail • Pop-up stores • Seasonal Users • Art & Culture • Retail incubators & Coops • Non-retail users
  • 54. Animate the Street • Activate Vacant lots • Storefront displays • Street Retail • Sidewalk Cafes • Farmers Markets • Art & Murals
  • 55. Innovative Uses of Space Service oriented retail Civic uses Social services Medical facilities Commercial tenants Educational facilities Non-profit organizations
  • 56. Best Practices for Success • Strengthen data collection, organization, and accessibility • Develop and maintain inventory of available sites • Strengthen presence in the national marketplace • Collaborate with transactional professionals • Establish protocols for marketing new retail • Create case studies documenting retail successes • Develop an arsenal of retail-oriented marketing tools and information
  • 57. Secrets of Success • Look at models that work elsewhere. • Be open to interim uses • Encourage green retail • Fill gaps with local entrepreneurs • Strengthen relationships with investors, retailers, and owners • Be tenacious
  • 58. Catherine Timko principal/CEO The Riddle Company/Community Retail Catalysts 202-365-7470 1220 L St., NW #100-447 Washington, DC 20005

×