CONVERSION: 25% SYNERGY INDEX: 03% MAKING THE INVISIBLE, VISIBLE ASSET OPTIMIZATION FOR RETAIL REAL ESTATE CONVERSION: 21% SYNERGY INDEX: 08% TOTAL TRAFFIC: 362 DWELL TIME: 00.25 » BUSINESS INTELLIGENCE THAT MAXIMIZES RETURN ON CAPITAL BETTER DATA MEANS FASTER RETURN ON INVESTMENT AT THE HEART OF PATH INTELLIGENCE THERE IS AN OLD IDEA, AND A NEW INVENTION. THE IDEA THE RESULT The answers might surprise you. They will certainly We understand the challenges and threats posed by ecommerce on physical retail. We know that The most successful and profitable businesses Our data answers key questions: influence planning and profitability of the center. keeping a competitive edge is critical. We focus on the same issues our clients face and provide clear For the first time, it’s possible to see the full picture. actionable insight to: consistently make great decisions. Great decisions are much easier when based on great data. For retail environments great data comes from understanding customer behavior - where shoppers go and in what order. How long they stay, and how often they return. But understanding that behavior, WHERE DO OUR CUSTOMERS GO WHILE THEY’RE HERE? HOW LONG DO THEY STAY AND WHY? THE INVENTION Our proprietary technology detects and locates all mobile devices and analyzes how they move within a physical location. Path provides unique business 6 Our clients consistently make insightful decisions Optimize rental returns, by ensuring the right brands are in the right place. Measure the traffic, impact, contribution and value of anchor stores. else. It enables and empowers business owners WHICH BRANDS ARE SHOPPED TOGETHER? to use every square foot of space positively for maximum return on capital. HOW DO FOOD, LEISURE, AND RETAIL INFLUENCE EACH OTHER? high-quality, customer data available at a granular level, that’s never before been possible. 1 based on powerful data that’s unavailable anywhere has been an unrealized goal; until now. With our technology, businesses have access to unique, THE RETURN HOW MANY SHOPPERS WERE EXPOSED AND REACTED TO AN AD? HOW MANY PEOPLE ATTENDED MY EVENT AND WHAT IMPACT DID IT HAVE ON SPEND? £ Quite simply, we make what was invisible, visible. HOW MANY INTERNATIONAL TOURISTS VISIT? intelligence without ever identifying any individual or personal data associated with that device. 2 Minimize failure and vacancy rates, by accelerating leasing and predicting problems. 7 Analyze the ROI of every marketing event and help better optimize spend. 3 8 Precisely measure the effectiveness of initiatives to increase customer dwell time. Predict the effectiveness of capital expenditure. 4 9 Identify cold spots and help reduce their impact. Optimize the mix of the retail, leisure and food offerings for maximum profitability. HOW OFTEN DO PEOPLE RETURN? PATH INTELLIGENCE ANALYSIS IS DESIGNED TO MAXIMIZE FINANCIAL PERFORMANCE. REALITY MINING: ONLINE ANALYTICS FOR THE PHYSICAL WORLD At a time when physical retail is under unrelenting attack from online, we provide the insight to shopping centers and retailers that ecommerce already has. Just as websites have online analytics, so our clients have Path Intelligence. 5 Predict new tenant and new scheme performance. » FIND OUT HOW WE CAN HELP YOU CALL US TODAY UK +44 2392 388442 US +1 212 537 9252 email [email protected] WANT TO FIND OUT MORE? LISTEN TO WHAT OUR CLIENTS FOREST CITY HAVE TO SAY ABOUT US VISIT WWW.PATHINTELLIGENCE.COM/FOREST-CITY/ » A UNIQUE TECHNOLOGY THAT RECOGNIZES ALL DEVICES Path Intelligence is based on a simple idea that anonymous, but unique, code that is broadcast observing what visitors actually do, rather than by all mobile devices when they ping their asking them what they think they did, provides cellphone network. That code can never be the best platform for decision making. related back to an individual’s identity, but it DWELL TIME: 52MINS NO OF VISITS: 5 does inform what an anonymous shopper’s We have built a technology that by design STORES VISITED: 12 NATIONALITY: UK behavior and choices were. gathers no personal data at all. Path FROM DEVICE TO DATA CENTER, FROM COMPUTER TO CLIENT 99% MOBILE PHONES ARE USED BY 99% OF ADULT SHOPPERS. 3 Path Intelligence technology detects those pings and locates where they emanated from Intelligence securely captures a completely OUR STRENGTH IS IDENTIFYING UNIQUE VISITORS Unlike camera counting our technology retains the concept of a unique visitor. This, in combination with the vast sample size that comes from recognizing all devices, means only Path Intelligence can tell you: Where people went – although anonymous, we do identify people as unique beings, which gives us the ability to understand cross shopping behavior and true dwell time » The difference between warm bodies constantly passing a static camera (visits), and actual shoppers (visitors) - This allows staff, tenants, smokers, repeat visitors, children and pets to be rationalized in the data 4 5 The anonymized data is processed to Path Intelligence Automated data reports are produced 2 The volume of people that have not visited any shops, and are using the center as a short cut to get somewhere else. Shopper recency and frequency to understand different types of shopper 1 The mobile device regularly pings its cellular and Wifi networks on its location via a series of signals Visitors with mobile devices enter a space monitored by Path Intelligence FIND OUT HOW WE CAN HELP YOU CALL US TODAY WWW 6 Retail real estate insight consultants analyse the aggregated data UK +44 2392 388442 7 Reports are delivered to clients via web portal, email and telephone US +1 212 537 9252 email [email protected] » UNDERSTAND AND OPTIMIZE ASSET PERFORMANCE Can you be confident that your decision making is founded on the best available information, or do you rely on reports support asset management decisions at both brand and center levels. Path Intelligence data provides PROSPECTIVE TENANT ANALYSIS FOR VACANT UNITS IS A CORE PATH SPECIALISM BRAND LEVEL PERFORMANCE Maintaining the best brand mix possible attracts Path Intelligence use a four stage process to predict suitable target brands to fill a vacant unit: more traffic. But strategically, how do you know what the best mix is? Path Intelligence data: 1 SHOWS WHICH BRANDS ARE SHOPPED TOGETHER AND THOSE THAT ARE A SINGLE DESTINATION MEASURES ANCHOR STORE PERFORMANCE AND CONTRIBUTION FORECASTS THE PERFORMANCE OF NEW TENANTS TO INFORM LEASING DECISIONS 3 COMPARES BRAND PERFORMANCE TO INDUSTRY BENCHMARKS WE UNIQUELY ENABLE YOU TO APPROACH ANY LEASING CONVERSATION WITH COMPREHENSIVE DATA ON CENTER AND STORE PERFORMANCE – NOT JUST SALES DATA. WE ARE PAVING THE WAY FOR TRAFFIC BASED RENTS » 2 FIND OUT HOW WE CAN HELP YOU CALL US TODAY UK +44 2392 388442 4 Review the current tenant mix and identify areas where the center is over and underweight Quantify potential customers that pass vacant units by analyzing weekly passing traffic, average peel-off rates to surrounding units and average sales per square foot Identify suitable target brands using national data to assess the top 15 most cross-shopped stores for every tenant in the center and then filter the results based on unit size Project the performance of each prospective brand using national averages to predict weekly store visits and projected weekly sales US +1 212 537 9252 email [email protected] intuition and experience? Shouldn’t your decisions about brand mix and leasing be data-driven? Our data new insights, informing and supporting the commercial decisions you make. ASSET LEVEL PERFORMANCE An optimum category and usage mix is critical for a center to be a destination. Getting it wrong means shopper traffic suffers, sales fall and the center becomes less attractive for high-performing RADAR FROM PATH INTELLIGENCE IS A NEW WAY TO ASSESS TENANT PERFORMANCE RADAR stands for Retailer Desirability Rating. With RADAR, tenants are ranked on the basis of four key metrics to produce an aggregate performance score. This score is ranked to demonstrate the desirability of each tenant in your center, and across portfolios. brands. Path Intelligence data: IDENTIFIES THE SYNERGY BETWEEN THE F&B, LEISURE AND RETAIL OFFER RADAR provides 3 unique commercial advantages: SHOWS YOUR HIGH AND LOW PERFORMING BRANDS TO SUPPORT LEASING DECISIONS AND RENTAL NEGOTIATIONS TELLS YOU IF YOUR CATEGORY MIX IS OPTIMAL FIND OUT HOW WE CAN HELP YOU CALL US TODAY 1. It highlights the strengths and weaknesses in your tenant mix by identifying the top and bottom tenants by category. 2. It minimizes failure rates by identifying and diagnosing underperforming tenants. RADAR can pinpoint the areas where a tenant is under-performing and prove whether a center or tenant fix is required. 3. It identifies if you are gaining the optimal rental value for each unit in the center. By comparing occupancy costs to performance it can identify tenants who should be paying more rent. UK +44 2392 388442 US +1 212 537 9252 email [email protected] » BOOST CENTRE OPERATIONS WITH DETAILED VISITOR INSIGHT We appreciate that you want to make your center one that shoppers love, are excited by and a place they want to spend Our data provides precise visitor metrics and enables you to understand, predict and influence visitor movement. PATH INTELLIGENCE IS THE INDUSTRY LEADER IN VISITOR METRICS Having accurate visitor volumetrics is the foundation of understanding the performance of your center. Path Intelligence KPI data: COUNTS UNIQUE VISITORS TO YOUR CENTER AND QUANTIFIES TRAFFIC HOUR-BY-HOUR THE PATH INDEX IS A UNIQUE MEASURE OF SHOPPER HOURS more time and money in. But do you understand your shoppers enough to achieve this goal? FOR OPERATIONS AND RESEARCH OUR DATA EXTENDS FAR BEYOND KPI MONITORING WE UNIQUELY PROFILE YOUR SHOPPER ROUTES AND CAN PREDICT POTENTIAL CHANGES FOR PLANNING PURPOSES Knowing where shoppers visit and the routes Calculated by multiplying total traffic by total Our proprietary measure of shopper hours has they take is vital if a pleasing environment, that dwell time, and only possible if true dwell been turned into a UK national index known as keeps shoppers coming back for more, is to be times are known, shopper hours quantifies the Path Index. Endorsed by the International achieved. Path Intelligence data provides the the retail opportunity a scheme has with its Council of Shopping Centers (ICSC) it is now an insight on shopper behavior so you understand shopper community. industry standard metric. what improvements will influence their actions. Our data: PATH’S CAPITAL EXPENDITURE ASSESSMENT INFORMS BIG DOLLAR DECISIONS PROVIDES AVERAGE DWELL TIMES Identifies hot and cold spots and shopper density Making big CapEx investments like an escalator or a car park demands careful thought. Physical Exposes badly-placed services and utilities changes to your scheme should be a commercial decision based on data. Do you know what impact ESTIMATES THE PREDICTED FREQUENCY OF SHOPPER VISITS PER WEEK/YEAR Shows staff-to-customer ratios so staff levels can be planned to meet peaks and troughs in demand Identifies how shoppers interact between zones » CALCULATES SHOPPER HOURS WHICH IS THE EXPOSURE RETAILERS HAVE TO SHOPPERS IN YOUR CENTER and where they go when given a choice Indicates the causes of congestion on performance even a minor change might have? Will it improve revenue or harm it? Our Capital Expenditure Assessment Report: BENCHMARKS YOUR SCHEME BEFORE AND AFTER THE CHANGE SUGGEST WHICH RETAIL UNITS TO COMBINE TO IMPROVE REVENUE RETURNS SUPPORTS KEY INFRASTRUCTURE CHANGES ON FACILITY AND AMENITY AREAS MEASURES CUSTOMER IMPACT DURING AND AFTER THE CHANGE. » BETTER YOUR MARKETING RETURN Every center invests in delivering great events whilst striving to manage expenditure in the best possible way. Not only can we quantify the success of your marketing and advertising, but we’re able to provide actionable insights to optimize your return on investment. INDUSTRY BENCHMARKING PROVIDES VALUABLE EVIDENCE FOR PLANNING EVENT ANALYSIS Measuring the success and ROI of an event has We uniquely: traditionally been very hard as the tools to do it properly weren’t available. Consequently many companies view marketing as a luxury simply ROI Report on the ROI of the event measured against sales uplift and event cost because they can’t measure its effectiveness.. Our technology has changed that. We can identify 45% Show the impact on center dynamics and 55% shopper flows the effectiveness of an event purely through data. We can show many people came to the event, how Benchmark event performance against long they stayed, how many were new vs returning similar events in other centers visitors and the uplift into every retailer. After the event, we can show how many of these new customers returned again. £$ Identify the benefits to participating Many of our UK clients run student lock-in events, our nationwide analysis provides not only their average uplift potential across all key metrics but also granularity as to which day of the week and month of the year will be most profitable. 14% We’ve assessed that advertising space in over 90% of shopping centers around the world is too cheap. Why? Because traditionally ad space in shopping centers is not considered effective. But we have the data to prove this thinking is wrong. Because we understand visitor flow, their behavior and which stores were visited, we can quantifiably track the impact of in-mall advertising in just the same way as online. Our data: » Identifies the most valuable locations for advertising based on shopper behavior and flow » Measures the number of shoppers exposed to 10% an ad 4% retailers versus non-participating INCREASE YOUR ADVERTISING REVENUES » Monitors the level of change on a retail brand 6X OUR RESEARCH SHOWS AD SPACE CHARGES ARE 6X TOO LOW. IMPROVE YOUR RETAILER’S CAPTURE RATES Are the storefronts in your center working in the best way for your clients, and for you? If too many shoppers too often pass by a retailer without ever going in, you need to understand why. We can tell you with data that: » Highlights if there is a lack of shoppers or insufficient desire to enter » Provides accurate capture rates » Clarifies responsibility between retailer and center on mitigating actions effected by an ad » Shows if you’re charging appropriately for your VISITOR NUMBERS » FIND OUT HOW WE CAN HELP YOU CALL US TODAY UK +44 2392 388442 US +1 212 537 9252 AVG. DWELL (MINUTES) SHOPPER HOURS email [email protected] ad space ARMED WITH DETAILED DATA FROM PATH INTELLIGENCE YOU CAN LOOK CRITICALLY AT ALL ASPECTS OF YOUR MARKETING AND ADVERTISING AND BE CERTAIN YOU’RE MAKING THE BEST OF YOUR BUDGET. WANT TO SEE HOW OUR EVENTS ANALYSIS HAS HELPED OUR CLIENTS AT GUNWHARF QUAYS. VISIT WWW.PATHINTELLIGENCE.COM/GUNWHARF-QUAYS » THE TEAM BEHIND PATH INTELLIGENCE WE ARE: OUR TECHNOLOGY: » Is installed in 16 countries WE HAVE OFFICES IN: » Analysts » United Kingdom » Consultants » United States of America » Developers » Hong Kong » Is in active use by 100+ clients » Detects 400 million+ shopper visits each week » Is used by Marketing Directors, Asset Managers, » Engineers Commercial Landlords, Shopping Center » Inventors Operators, major retail chains and transport hubs But most of all we’re committed proponents of No matter where you are, we’d be delighted to Whatever your business, it involves people. We great customer experiences. discuss our technology, the data we collect and can help you understand what they do. We can how it can help you.. help decode their behavior for commercial and customer benefit. We make the invisible, visible. » FIND OUT HOW WE CAN HELP YOU CALL US TODAY UK +44 2392 388442 US +1 212 537 9252 HK +852 9860 3525 email [email protected]
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