Welcome to Experts Online August 1, 2006
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Welcome to Experts OnlineAugust 1, 2006
Creating the Right Retail Mix:Creating the Right Retail Mix:Can small neighborhood businesses Can small neighborhood businesses and national chains coand national chains co--exist?exist?
Who are the Experts?
Joe GetzGeneral Partner, JGSC Group, LLC
Larry KilduffPresident, The Kilduff Company
Creating the Right Retail Mix
Joe Getz
Do national chains hurt small neighborhood businesses ?
Or do small neighborhood businesses hurt themselves?
Can’t we all just get along?
Of course we can.
Survival of the fittest.
The market decides what survives.
Sometimes we hurt ourselves
Creating the right retail mix.
What type of corridor is yours?The type of retaileris determined (in part)by the type of corridor.
Describe your corridorNeighborhoodCommunityRegionalTourismBusinessEntertainment
What type of consumer is here? Knowing who shops here and what they want, helps determine which retailers work best.
Who shops here? Why?
Who’s missing?Why?
What storesdo consumersmost want?
Consumers, in part, helpdetermine the right mix.
0
5
10
15
20
25
30
AC M oore Barnes & Noble Best Buy Borders GAP Kohl's Target Wal-M art Whole Foods
Average of all responses
What can the market sustain?You have to do a (proper) market analysis.And, you haveto read it.Retail dynamicsare fluid, so theanalysis is outof date as soonas you use it.Nationals willwant to seethe results.Locals shouldwant to, too!
Trade area sustainabilityDemographics
Psychographics
Consumer Spending
Supply & Demand
Over/Under Served
JGSC PowerGRID™(Hey, don’t steal this!)
Once you know what,it’s easy to know who
Create a merchandise plan for the corridor.Don’t justfill space.Nationalshave criteria.Localsshould too.
Formula for success:Give them what they want.
Show themyou havewhat they want.Create a buzz.Give them theinformation theyneed to makethe decisionyou want them to make.
Let’s work together.Let’s work together.Nationals can and should compliment locals.
Local can and shouldcompliment nationals.
Nationals manage,locals retail.
All should participatein cooperative marketing.
The goal: work togetherto improve the quality of lifefor all shoppers.
Lessons learned.Lessons learned.We need learn from our past mistakes.
Leases
NNN
Use clause
Materials
Hours ofOperation
Strike a balance.Strike a balance.Most commercial corridors can support a balance of different retailers.
Locals need to be strong to avoid being crushed.
Franchise stores can provide additional support.
Case StudyLarry Kilduff
Kenosha, WisconsinKenosha, Wisconsin
11019 N. Towne Square Rd., Suite 8Mequon, WI 53092
262-240-0045 Fax: 262-240-1057www.thekilduffcompany.com
PO Box 628Middleton, WI 53562
608-345-9858www.PRDCInfo.com
The Location
• 40 miles south of Milwaukee, WI
• Community center serving the Uptown Neighborhood, approximately, 3 square miles.
• Located in the Uptown Neighborhood at 63rd Street and 26th
Avenue in Kenosha, WI.
The Original Brass Factory
The Brass Factory Today
Contamination Issues from a Developer’s Perspective:
•How long until the site is ready for development?
•What are the liability protections?
•Do those protections satisfy lenders? Investors? Users? If not, what next?
•Coordinating clean-up with development realities.
The Site Plan
• Mixed-use urban re-development
• 113,500 square feet of retail space
• Outlots available
• Parking ratio 5:1
The Vision…
Revitalized Urban Environment…
Mixed Use is Great, but Complicated…
Thank you
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