Down is the New Up.Down is the New Up.
Up is the New Up: How 
Innovative Retail Models 
are Making Consumers 
Spend Again
...
Alan McKeonAlan McKeon
President & CEO
Alexander Babbage, Inc.
While the “Great Recession” lasted 4 quarters and reduced 
Real GDP by nearly 7%, it ended in June 2009 ‐ 16 months ago
AL...
Is Down, the new Up?
ALEXANDER BABBAGE
Job growth continues to trail previous recoveries 
ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reser...
Within all the doom and gloom, some retail models and retail 
sectors are still growing
40,000
U.S. Retail Sales (Seasonal...
Services as a proportion of consumers personal consumption 
expenditures continues to grow
100%
U.S. Share of Personal Con...
Experience matters
ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietar...
Experience overload…
1001+ Books about 1001 things you must do …… before you die
ALEXANDER BABBAGE © Copyright 2010, Alexa...
Value matters
100.0%
Designer26.6% 20.1%
80.0%
es g e
“I buy designer merchandise and am willing to pay for the style and ...
Value doesn't just mean low price
EXPERIENCEEXPERIENCE
PRICEPRICE
EXPERIENCEEXPERIENCE
VALUE  = VALUE  = 
PRICEPRICE
ALEXA...
Consumers can check prices quickly and easily online:
NexTag, 201st most popular website in US
Rank Website
1 Google
2 Fac...
Consumers can check prices quickly and easily in‐store:
Red Laser, mobile price and stock checking application
 iPhone Ap...
Marketers are using price and value to drive 
sales back to retail outlets
 Groupon (Group‐Coupon) 
launched November 200...
Consumers are smarter in determining how and where to part 
with their hard‐won dollars…and voting with their feet
Experie...
Anselm FuscoAnselm Fusco
Senior Vice President of Investments  
Madison Marquette
Asbury Park History
18
Asbury Park History
19
Recent Past
20
Recent Past
21
Stone Pony Summerstage
23
Boardwalk Overview
24
Restaurants
25
Retail
26
Southwest Waterfront
28
Southwest Waterfront
29
Blake L CordishBlake L. Cordish
Vice President
The Cordish Company
The Cordish Company 601 East Pratt St., 6th Floor Baltimore, MD 21202 Phone: 410.752.5444 Toll Free: 1.800.733.5444
Power Plant- Baltimore, MD
Power Plant- Baltimore, MD
Bayou Place- Houston, TX
Atlantic City Outlets- The Walk- Atlantic City, NJ
Atlantic City Outlets-The Walk- Atlantic City, NJ
Atlantic City Outlets-The Walk- Atlantic City, NJ
Seminole Hard Rock Hotel & Casino- Hollywood, FL
Power Plant Live- Baltimore, MD
Fourth Street Live!- Louisville, KY
Power & Light District – Kansas City, MO
Ballpark Village- St. Louis, MO
Ballpark Village- St. Louis, MO
Ballpark Village- St. Louis, MO
Woodbine Live!-Toronto, Canada
Philly Live!- Philadelphia, PA
Mission Rock- San Francisco, CA
Seminole Hard Rock Hotel & Casino- Hollywood, FL
Seminole Hard Rock Hotel & Casino- Tampa, FL
Charleston Place- Charleston, SC
NASCAR Sports Grille
NASCAR Sports Grille- Orlando, FL
Maker’s Mark Bourbon House and Lounge- Louisville, KY
MEX
Vinino
Mosaic Lounge
Mosaic Lounge
Hotel Night Club
Rams Head Live!
Hard Rock Live!
Portfolio Profile
M i t F Mainstream Focus
 Play to the Deep End of the Pool
 Dominate Mid-Size Markets with Category
K...
Portfolio Trends in Sales &
Per Capita Spending
Vertical Integration
D f Fi t W Will P t t Thi H Defense First: We Will Protect This House
 Challenge of High Energy Con...
Kansas City Power & Light District- Kansas City, MO
Kansas City Power & Light District- Kansas City, MO
Power & Light District- Kansas City, MO
Sprint Center- Kansas City, MO
Midland Theater- Kansas City Power & Light District- Kansas City, MO
AMC Mainstreet Theater
AMC Mainstreet Theater
AMC Mainstreet Theater
Power & Light District – Kansas City, MO
Power & Light District – Kansas City, MO
Power & Light District – Kansas City, MO
Power & Light District – Kansas City, MO
Power & Light District – Kansas City, MO
Power & Light District – Kansas City, MO
Power & Light District – Kansas City, MO
Power & Light District – Kansas City, MO
The Jones
Activation of Public Spaces
 Treat Public Spaces as Active Businesses
 Commitment to Operational Expertise and Depth ofC...
Making Markets
Bi t Ch ll Ch i P ti d P tt f Biggest Challenge: Changing Perceptions and Patterns of
Behavior
 Recogniti...
Strategy Adjustments
 Increased Calendar of Events and Budget by approximately Increased Calendar of Events and Budget b...
Brand Alliances
Execution is The Key
 Ambiance is the Anchor Not Concepts
 Experience Over Brands
 Large Scale Mixed-Use Districts Vers...
The Cordish Company 601 East Pratt St., 6th Floor Baltimore, MD 21202 Phone: 410.752.5444 Toll Free: 1.800.733.5444
Julie Brinkerhoff‐JacobsJulie Brinkerhoff Jacobs
President & CFO
Lifescapes International, Inc.
NormaLynn CutlerNormaLynn Cutler
Lead Drum Majorette
Cutler Enterprises
The EmThe Em--urgenturgentThe EmThe Em--urgenturgent
Theater of RetailTheater of Retail
Playing for Dramatic ResultsPlayin...
WHAT’S WRONG WITHWHAT’S WRONG WITH
S C ???S C ???
WHAT’S WRONG WITHWHAT’S WRONG WITH
S C ???S C ???THIS PICTURE???THIS PIC...
OPEN SPACEOPEN SPACEOPEN SPACEOPEN SPACEOPEN SPACEOPEN SPACE
ANIMATION FORANIMATION FOR
OPEN SPACEOPEN SPACE
ANIMATION FOR...
C S OC S OC S OC S OTRICKS TO HELPTRICKS TO HELP
YOUR PROPERTYYOUR PROPERTY
TRICKS TO HELPTRICKS TO HELP
YOUR PROPERTYYOUR...
1. DON’T BE AFRAID1. DON’T BE AFRAID
TO BE INSPIRED BYTO BE INSPIRED BY
1. DON’T BE AFRAID1. DON’T BE AFRAID
TO BE INSPIRE...
2. DO COLLABORATE2. DO COLLABORATE2. DO COLLABORATE2. DO COLLABORATE
WITH ARTISTS, LOCALWITH ARTISTS, LOCAL
IF POSSIBLEIF ...
3. DON’T BE3. DON’T BE3. DON’T BE3. DON’T BE3. DON T BE3. DON T BE
PREDICTABLE.PREDICTABLE.
3. DON T BE3. DON T BE
PREDICT...
4. DO MIX LOW &4. DO MIX LOW &4. DO MIX LOW &4. DO MIX LOW &4. DO MIX LOW &4. DO MIX LOW &
HIGH CULTURE.HIGH CULTURE.
4. D...
5. DO SUBSCRIBE TO5. DO SUBSCRIBE TO
EDGY MAGS OF ALLEDGY MAGS OF ALL
5. DO SUBSCRIBE TO5. DO SUBSCRIBE TO
EDGY MAGS OF AL...
6. DO LAMPOON &6. DO LAMPOON &6. DO LAMPOON &6. DO LAMPOON &6. DO LAMPOON &6. DO LAMPOON &
SATIRIZE.SATIRIZE.
6. DO LAMPOO...
7. DON’T AVOID TEXT.7. DON’T AVOID TEXT.7. DON’T AVOID TEXT.7. DON’T AVOID TEXT.7. DON T AVOID TEXT.7. DON T AVOID TEXT.
E...
8 DON’T BE AFRAID8 DON’T BE AFRAID8 DON’T BE AFRAID8 DON’T BE AFRAID8. DON’T BE AFRAID8. DON’T BE AFRAID
OF THEMES DON’TOF...
9 DON’T SPEND A9 DON’T SPEND A9 DON’T SPEND A9 DON’T SPEND A9. DON’T SPEND A9. DON’T SPEND A
FORTUNE ONFORTUNE ON
9. DON’T...
NEW PARADIGMSNEW PARADIGMSNEW PARADIGMSNEW PARADIGMSNEW PARADIGMSNEW PARADIGMS
IN RETAILIN RETAIL
NEW PARADIGMSNEW PARADIG...
Down is the New Up.
Up is the New Up: HowUp is the New Up: How 
Innovative Retail Models 
are Making Consumers 
Spend Agai...
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again
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Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again

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2010 ULI Fall Meeting Presentation
October 14, 2010
9:30 am to 10:45 am

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Down is the New Up. Up is the New Up. How Innovative Retail Models are Making Consumers Spend Again

  1. 1. Down is the New Up.Down is the New Up. Up is the New Up: How  Innovative Retail Models  are Making Consumers  Spend Again Thursday,  October 14 9:30 a.m. – 10:45 a.m.
  2. 2. Alan McKeonAlan McKeon President & CEO Alexander Babbage, Inc.
  3. 3. While the “Great Recession” lasted 4 quarters and reduced  Real GDP by nearly 7%, it ended in June 2009 ‐ 16 months ago ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 3
  4. 4. Is Down, the new Up? ALEXANDER BABBAGE
  5. 5. Job growth continues to trail previous recoveries  ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 5 Vertical axis shows the ratio of that month’s nonfarm payrolls to the nonfarm payrolls at the start of recession. http://economix.blogs.nytimes.com/2010/07/02/comparing-this-recession-to-previous-ones-job-changes--/?scp=5&sq=recession%20comparison&st=Search
  6. 6. Within all the doom and gloom, some retail models and retail  sectors are still growing 40,000 U.S. Retail Sales (Seasonally Adjusted) Recession 30,000 35,000 15,000 20,000 25,000 In Millions $ 5,000 10,000 0 Jan‐93 Jul‐93 Jan‐94 Jul‐94 Jan‐95 Jul‐95 Jan‐96 Jul‐96 Jan‐97 Jul‐97 Jan‐98 Jul‐98 Jan‐99 Jul‐99 Jan‐00 Jul‐00 Jan‐01 Jul‐01 Jan‐02 Jul‐02 Jan‐03 Jul‐03 Jan‐04 Jul‐04 Jan‐05 Jul‐05 Jan‐06 Jul‐06 Jan‐07 Jul‐07 Jan‐08 Jul‐08 Jan‐09 Jul‐09 Jan‐10 Jul‐10 Health and personal care stores Clothing and clothing access. stores 1993 20101993 2010 ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 6 Department stores (excl. L.D.) Warehouse clubs and superstores Food services and drinking places
  7. 7. Services as a proportion of consumers personal consumption  expenditures continues to grow 100% U.S. Share of Personal Consumption Expenditures 80% 90% 50% 60% 70% Total PCE 30% 40% % of T 0% 10% 20% ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 7 1929 1939 1949 1959 1969 1979 1989 1999 2009 Share of Goods in PCE Share of Services in PCEServicesGoods
  8. 8. Experience matters ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 8
  9. 9. Experience overload… 1001+ Books about 1001 things you must do …… before you die ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 9
  10. 10. Value matters 100.0% Designer26.6% 20.1% 80.0% es g e “I buy designer merchandise and am willing to pay for the style and workmanship” 50.4% 52.2% 60.0% Brand “I buy well-known brands because they provide the best quality for my money” 40.0% 23.0% 27.7% 20.0% Value “I prefer to pay the lowest price, so I shop primarily for values” ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 10 0.0% 2005 2006 2007 2008 2009 2010
  11. 11. Value doesn't just mean low price EXPERIENCEEXPERIENCE PRICEPRICE EXPERIENCEEXPERIENCE VALUE  = VALUE  =  PRICEPRICE ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 11 *Definition of value inspired by AlixPartners
  12. 12. Consumers can check prices quickly and easily online: NexTag, 201st most popular website in US Rank Website 1 Google 2 Facebook 3 Yahoo 4 YouTube 5 Amazon.com 6 Wikipedia 7 Twitter 8 eBay 9 C i li9 Craigslist.org 10 Blogger.com 11 Windows Live 12 MSN 13 Go 14 Bing 15 LinkedIn15 LinkedIn 16 AOL 17 ESPN 18 Myspace 19 CNN Interactive 20 WordPress.com 21 Netflix 22 PayPal 23 The Internet Movie Database 24 Flikr 25 The New York Times 26 Microsoft Corporation 27 The Weather Channel 28 About ALEXANDER BABBAGE http://www.alexa.com/siteinfo/nextag.com © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 12 28 About 29 Bank of America 30 Apple Inc. …… 201 Nextag.com
  13. 13. Consumers can check prices quickly and easily in‐store: Red Laser, mobile price and stock checking application  iPhone Application  Scans and reads bar‐code on products,  books, clothing  Uses GPS from phone to determine where  local retailers are  Displays comparison of prices at different  retailers online and offline  Displays in‐stock situation ImplicationsImplications  Can drive in store purchase decision online  Can convert in store purchase to another  local retailer ALEXANDER BABBAGE local retailer © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 13
  14. 14. Marketers are using price and value to drive  sales back to retail outlets  Groupon (Group‐Coupon)  launched November 2008launched November 2008  A coupon “tips” when a set  number of customers buy the  “deal”  Gap was the first nation‐wide  Groupon deal, tipped at 600  customers Results:   445,000 shoppers purchased  the $25 Gap Groupon dealthe $25 Gap Groupon deal  $11 million in revenue in one  day  An average of 10 Groupons ALEXANDER BABBAGE http://mashable.com/2010/08/19/gap‐groupon/  An average of 10 Groupons  sold per second © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 14
  15. 15. Consumers are smarter in determining how and where to part  with their hard‐won dollars…and voting with their feet Experience exceeds price paid = high value Result: gain market share Price exceeds value of the experiencePrice exceeds value of the experience Result: lose market share ALEXANDER BABBAGE © Copyright 2010, Alexander Babbage. All Rights Reserved, Confidential and Proprietary. 15
  16. 16. Anselm FuscoAnselm Fusco Senior Vice President of Investments   Madison Marquette
  17. 17. Asbury Park History 18
  18. 18. Asbury Park History 19
  19. 19. Recent Past 20
  20. 20. Recent Past 21
  21. 21. Stone Pony Summerstage 23
  22. 22. Boardwalk Overview 24
  23. 23. Restaurants 25
  24. 24. Retail 26
  25. 25. Southwest Waterfront 28
  26. 26. Southwest Waterfront 29
  27. 27. Blake L CordishBlake L. Cordish Vice President The Cordish Company
  28. 28. The Cordish Company 601 East Pratt St., 6th Floor Baltimore, MD 21202 Phone: 410.752.5444 Toll Free: 1.800.733.5444
  29. 29. Power Plant- Baltimore, MD
  30. 30. Power Plant- Baltimore, MD
  31. 31. Bayou Place- Houston, TX
  32. 32. Atlantic City Outlets- The Walk- Atlantic City, NJ
  33. 33. Atlantic City Outlets-The Walk- Atlantic City, NJ
  34. 34. Atlantic City Outlets-The Walk- Atlantic City, NJ
  35. 35. Seminole Hard Rock Hotel & Casino- Hollywood, FL
  36. 36. Power Plant Live- Baltimore, MD
  37. 37. Fourth Street Live!- Louisville, KY
  38. 38. Power & Light District – Kansas City, MO
  39. 39. Ballpark Village- St. Louis, MO
  40. 40. Ballpark Village- St. Louis, MO
  41. 41. Ballpark Village- St. Louis, MO
  42. 42. Woodbine Live!-Toronto, Canada
  43. 43. Philly Live!- Philadelphia, PA
  44. 44. Mission Rock- San Francisco, CA
  45. 45. Seminole Hard Rock Hotel & Casino- Hollywood, FL
  46. 46. Seminole Hard Rock Hotel & Casino- Tampa, FL
  47. 47. Charleston Place- Charleston, SC
  48. 48. NASCAR Sports Grille
  49. 49. NASCAR Sports Grille- Orlando, FL
  50. 50. Maker’s Mark Bourbon House and Lounge- Louisville, KY
  51. 51. MEX
  52. 52. Vinino
  53. 53. Mosaic Lounge
  54. 54. Mosaic Lounge
  55. 55. Hotel Night Club
  56. 56. Rams Head Live!
  57. 57. Hard Rock Live!
  58. 58. Portfolio Profile M i t F Mainstream Focus  Play to the Deep End of the Pool  Dominate Mid-Size Markets with Category Killer Destinations T h B d D hi C i Touch Broad Demographic Categories  Regional Drive-To Destinations  Unique Entertainment Experiences for Guests
  59. 59. Portfolio Trends in Sales & Per Capita Spending
  60. 60. Vertical Integration D f Fi t W Will P t t Thi H Defense First: We Will Protect This House  Challenge of High Energy Concepts  Shadow GovernmentsShadow Governments  Inevitable Meltdown With Broad Negatives  Brain Damage of Complexity & Investment  Offense: Create Unique Venues  Database Building  Multiple Consumer Touch Points Multiple Consumer Touch Points  Improve Experiences for Patrons  Additional Sponsorship Opportunities
  61. 61. Kansas City Power & Light District- Kansas City, MO
  62. 62. Kansas City Power & Light District- Kansas City, MO
  63. 63. Power & Light District- Kansas City, MO
  64. 64. Sprint Center- Kansas City, MO
  65. 65. Midland Theater- Kansas City Power & Light District- Kansas City, MO
  66. 66. AMC Mainstreet Theater
  67. 67. AMC Mainstreet Theater
  68. 68. AMC Mainstreet Theater
  69. 69. Power & Light District – Kansas City, MO
  70. 70. Power & Light District – Kansas City, MO
  71. 71. Power & Light District – Kansas City, MO
  72. 72. Power & Light District – Kansas City, MO
  73. 73. Power & Light District – Kansas City, MO
  74. 74. Power & Light District – Kansas City, MO
  75. 75. Power & Light District – Kansas City, MO
  76. 76. Power & Light District – Kansas City, MO
  77. 77. The Jones
  78. 78. Activation of Public Spaces  Treat Public Spaces as Active Businesses  Commitment to Operational Expertise and Depth ofCommitment to Operational Expertise and Depth of Human Resources: Production, Marketing, Sponsorship  Discipline of Distinct P&L Statements: Balancing $4.0 Million in Revenues and ExpensesMillion in Revenues and Expenses  Limited Sources of Revenues: Landlord, Tenant, Common Area Sales and Sponsorships  Value For Free & Unique Experiences  Regional Destination: Drive Times & Repeat Visitation
  79. 79. Making Markets Bi t Ch ll Ch i P ti d P tt f Biggest Challenge: Changing Perceptions and Patterns of Behavior  Recognition that Consumers are More Judicious With Higher E pectationsExpectations  Quality of the Experience is Critical  Exceed Expectations: Mainstreet, Midland, Cosentinos  Focus on Immersive and Departure Based Entertainment Experiences: Bright Lights, Big City  Events and Anchors that are Purchasing Enablers Such asg Sports and Concerts in Terms of Mindset and Drive-Time
  80. 80. Strategy Adjustments  Increased Calendar of Events and Budget by approximately Increased Calendar of Events and Budget by approximately 15% to 210 Event Per Annum  Increased Diversity of Event Calendar to Reach a Broader DemographicDemographic  Debated But Kept With 100% Free Events  Opened up Additional Sponsorship Assets in Sought After Activation Experiencesp  Limitations on Sponsorship Dollars: 3 for 2  Increased Trade  Emphasized Media Partners Including Social Media Outletsp as ed ed a a t e s c ud g Soc a ed a Out ets
  81. 81. Brand Alliances
  82. 82. Execution is The Key  Ambiance is the Anchor Not Concepts  Experience Over Brands  Large Scale Mixed-Use Districts Versus Projects  Delivering Enhanced Value
  83. 83. The Cordish Company 601 East Pratt St., 6th Floor Baltimore, MD 21202 Phone: 410.752.5444 Toll Free: 1.800.733.5444
  84. 84. Julie Brinkerhoff‐JacobsJulie Brinkerhoff Jacobs President & CFO Lifescapes International, Inc.
  85. 85. NormaLynn CutlerNormaLynn Cutler Lead Drum Majorette Cutler Enterprises
  86. 86. The EmThe Em--urgenturgentThe EmThe Em--urgenturgent Theater of RetailTheater of Retail Playing for Dramatic ResultsPlaying for Dramatic Results What’s NewWhat’s New NormaLynn CutlerNormaLynn Cutler Cutler EnterprisesCutler Enterprises
  87. 87. WHAT’S WRONG WITHWHAT’S WRONG WITH S C ???S C ??? WHAT’S WRONG WITHWHAT’S WRONG WITH S C ???S C ???THIS PICTURE???THIS PICTURE???THIS PICTURE???THIS PICTURE???
  88. 88. OPEN SPACEOPEN SPACEOPEN SPACEOPEN SPACEOPEN SPACEOPEN SPACE ANIMATION FORANIMATION FOR OPEN SPACEOPEN SPACE ANIMATION FORANIMATION FORANIMATION FORANIMATION FOR OPEN WALLETOPEN WALLET ANIMATION FORANIMATION FOR OPEN WALLETOPEN WALLETOPEN WALLETOPEN WALLET DOMINATIONDOMINATION OPEN WALLETOPEN WALLET DOMINATIONDOMINATIONDOMINATION.DOMINATION.DOMINATION.DOMINATION.
  89. 89. C S OC S OC S OC S OTRICKS TO HELPTRICKS TO HELP YOUR PROPERTYYOUR PROPERTY TRICKS TO HELPTRICKS TO HELP YOUR PROPERTYYOUR PROPERTYYOUR PROPERTYYOUR PROPERTY ROCKROCK YOUR PROPERTYYOUR PROPERTY ROCKROCKROCK.ROCK.ROCK.ROCK.
  90. 90. 1. DON’T BE AFRAID1. DON’T BE AFRAID TO BE INSPIRED BYTO BE INSPIRED BY 1. DON’T BE AFRAID1. DON’T BE AFRAID TO BE INSPIRED BYTO BE INSPIRED BYTO BE INSPIRED BYTO BE INSPIRED BY OTHERSOTHERS TO BE INSPIRED BYTO BE INSPIRED BY OTHERSOTHERSOTHERS.OTHERS.OTHERS.OTHERS.
  91. 91. 2. DO COLLABORATE2. DO COLLABORATE2. DO COLLABORATE2. DO COLLABORATE WITH ARTISTS, LOCALWITH ARTISTS, LOCAL IF POSSIBLEIF POSSIBLE WITH ARTISTS, LOCALWITH ARTISTS, LOCAL IF POSSIBLEIF POSSIBLEIF POSSIBLE.IF POSSIBLE.IF POSSIBLE.IF POSSIBLE.
  92. 92. 3. DON’T BE3. DON’T BE3. DON’T BE3. DON’T BE3. DON T BE3. DON T BE PREDICTABLE.PREDICTABLE. 3. DON T BE3. DON T BE PREDICTABLE.PREDICTABLE.
  93. 93. 4. DO MIX LOW &4. DO MIX LOW &4. DO MIX LOW &4. DO MIX LOW &4. DO MIX LOW &4. DO MIX LOW & HIGH CULTURE.HIGH CULTURE. 4. DO MIX LOW &4. DO MIX LOW & HIGH CULTURE.HIGH CULTURE.
  94. 94. 5. DO SUBSCRIBE TO5. DO SUBSCRIBE TO EDGY MAGS OF ALLEDGY MAGS OF ALL 5. DO SUBSCRIBE TO5. DO SUBSCRIBE TO EDGY MAGS OF ALLEDGY MAGS OF ALLEDGY MAGS OF ALLEDGY MAGS OF ALL KINDSKINDS EDGY MAGS OF ALLEDGY MAGS OF ALL KINDSKINDSKINDS.KINDS.KINDS.KINDS.
  95. 95. 6. DO LAMPOON &6. DO LAMPOON &6. DO LAMPOON &6. DO LAMPOON &6. DO LAMPOON &6. DO LAMPOON & SATIRIZE.SATIRIZE. 6. DO LAMPOON &6. DO LAMPOON & SATIRIZE.SATIRIZE.
  96. 96. 7. DON’T AVOID TEXT.7. DON’T AVOID TEXT.7. DON’T AVOID TEXT.7. DON’T AVOID TEXT.7. DON T AVOID TEXT.7. DON T AVOID TEXT. EMBRACE IT!EMBRACE IT! 7. DON T AVOID TEXT.7. DON T AVOID TEXT. EMBRACE IT!EMBRACE IT!
  97. 97. 8 DON’T BE AFRAID8 DON’T BE AFRAID8 DON’T BE AFRAID8 DON’T BE AFRAID8. DON’T BE AFRAID8. DON’T BE AFRAID OF THEMES DON’TOF THEMES DON’T 8. DON’T BE AFRAID8. DON’T BE AFRAID OF THEMES DON’TOF THEMES DON’TOF THEMES. DON TOF THEMES. DON T OVERDO THEMOVERDO THEM OF THEMES. DON TOF THEMES. DON T OVERDO THEMOVERDO THEMOVERDO THEM,OVERDO THEM, EITHER.EITHER. OVERDO THEM,OVERDO THEM, EITHER.EITHER.EITHER.EITHER.EITHER.EITHER.
  98. 98. 9 DON’T SPEND A9 DON’T SPEND A9 DON’T SPEND A9 DON’T SPEND A9. DON’T SPEND A9. DON’T SPEND A FORTUNE ONFORTUNE ON 9. DON’T SPEND A9. DON’T SPEND A FORTUNE ONFORTUNE ONFORTUNE ONFORTUNE ON HOLIDAYS (UNLESSHOLIDAYS (UNLESS FORTUNE ONFORTUNE ON HOLIDAYS (UNLESSHOLIDAYS (UNLESSHOLIDAYS (UNLESSHOLIDAYS (UNLESS YOU HAVE ONE).YOU HAVE ONE). HOLIDAYS (UNLESSHOLIDAYS (UNLESS YOU HAVE ONE).YOU HAVE ONE).YOU HAVE ONE).YOU HAVE ONE).YOU HAVE ONE).YOU HAVE ONE).
  99. 99. NEW PARADIGMSNEW PARADIGMSNEW PARADIGMSNEW PARADIGMSNEW PARADIGMSNEW PARADIGMS IN RETAILIN RETAIL NEW PARADIGMSNEW PARADIGMS IN RETAILIN RETAIL
  100. 100. Down is the New Up. Up is the New Up: HowUp is the New Up: How  Innovative Retail Models  are Making Consumers  Spend Again Q&A

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