Having the right mix of businesses in your center is vital for success. Attract the right tenants by proving that your center is the best fit for them. Achieve this by using Placer’s foot traffic intelligence to reveal your center’s reach, alleviate cannibalization concerns, prove an audience match, and show the benefits of co-tenancy.

You’ll be able to answer these questions after reading this article:

1. How can you analyze your center’s visitation traffic and its true reach?
2. How do your center and its tenants rank versus others in the same category or chain?
3. How can you evaluate visitor affinity and co-tenancy?

(For the purpose of this example, Staples Plaza is trying to attract a Trader Joe’s)

Get started with the following steps:

Step 1: Compare your center’s visitation traffic to other properties

Open the Placer report for the POI^{Point (Location) of Interest.}. Add one or more POIs (use the plus sign to add and click Go) for comparison purposes and choose your preferred date range (default is the last 12 months). Analyze the estimated number of customers and visits (Metrics), the visit trends (Visits Trend), visits at any time of day (Hourly Visits), visits by day of the week (Daily Visits), and how long visitors spent at your POI (Length of Stay).

Step 2: Analyze True Trade Area to showcase the reach and draw of your center

a. Navigate to Trade Area^{Representation of the dispersion of home and work locations that drive traffic to any venue.} in the left sidebar. Understand your visitors’ True Trade Area and see the distance in miles required for visitors to reach the property. Filter by visitors’ home or work location, and by visit frequency to understand the travel patterns of more loyal visitors.

Learn about Trade Area

b. Address cannibalization concerns by determining trade area overlaps. Navigate to Trade Area in the left sidebar and scroll to Trade Area Overlap. Here you see that there is very minimal overlap between the trade areas of Staples Plaza and Trader Joe’s (first add Trader Joe’s by using the plus sign and clicking Go).

Learn about Trade Area Overlap

c. Review visitor demographics for your center and compare them to a prospective tenant. Navigate to Demographics in the left sidebar. Under Audience Profile, use the drop-down to add your prospective tenant so a comparison can be made. Select the trade area type you’d like to use for the report (True Trade Area, Drive Time, Walk Time, or Distance in Miles).

d. There are several datasets to choose from in the dataset drop-down menu to compare the trade areas. If the datasets you’re looking for are not visible, click View more Datasets to view and add new insights. Index scores can be read as percentages. For example, a score of 110 can be inferred to mean that the figure is 10% above the base average of 100; a score of 90 represents a figure 10% below the base average.

‍Step 3: Show how your center and its tenants rank

a. Navigate to Ranking^{Shows where the venue/complex is ranked within its chain and/or category.} in the left sidebar. View the performance of your center (and any existing tenant you want to evaluate).

b. Adjust the view to compare the performance of an existing tenant to others in the chain.

Learn about Ranking Overview‍

Step 4: Demonstrate visitor affinity and co-tenancy

a. Prove that there is an audience match by determining if visitors to your center already have a relationship with a prospective tenant. Navigate to Visitor Journey^{The flow of commercial activity to and from any property that shows the top "Prior" and "Post" locations.} in the left sidebar. Scroll to Favorite Chains, select the relevant category (in this case Groceries), and review the results to see if your prospective tenant is listed. In this example, Trader Joe’s appears as one of Staples Plaza’s visitors’ favorite grocery chains (at least one visit in the last 12 months), showing the relationship between visitors of the center and the prospective tenant. Scroll to Favorite Places to determine the specific location of a particular venue that visitors to your center also frequent.

Learn about Favorite Chains

b. Show the benefits of co-tenancy by determining if visitors to existing tenants in your center already have a relationship with a prospective tenant. Navigate to Visitor Journey in the left sidebar. Scroll to Favorite Chains, select the relevant category (in this case Groceries), and review the results to see if your prospective tenant is listed. In this example, visitors of Pet Supplies Plus frequent Trader Joe’s, implying a potentially good co-tenancy relationship. Scroll to Favorite Places to determine the specific location.

Learn about Favorite Places

Step 5: Share Your Match Analysis

Share with your prospective tenant the Match Analysis that you created, using the Void Analysis Report, to go over the different reasons they are a good fit and have a high potential of succeeding in your center.

Read this guide or watch this training to learn how to generate a Match Analysis.