Download - Oakbrook Center Presentation-Final
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OAKBROOK CENTER ANALYSISBY CONNIE CASTELLUCCI, SCARLETT CHENG, LYNN LIU, ERIC MILLS, GRACE ZHONG
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PRODUCT DESCRIPTION: OAKBROOK CENTER
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PRODUCT DESCRIPTION• Oakbrook Center is an upscale super-regional shopping
center located near Interstate 88 in Oak Brook, Illinois
• Primarily accessible by driving, 18 miles from Chicago Loop
• Originally opened in 1962, is now the second largest Chicago land shopping center
• 138 store and services• 25 restaurants and eateries
Source: http://www.oakbrookcenter.com/
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METHODOLOGY• Segments and targeting were determined using a
combination of intercept conversations and loyalty card surveys
• Mall demographics were determined using a cross analysis of those tactics
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CUSTOMER SEGMENTATION
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SHOPPER SEGMENTING
Core Consumer* Demographics
• Female
• 25 to 54 years old
• Caucasian
• $35,000 - $150,000 income
*Core Consumers make up 36% of total shopper base
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SHOPPER SEGMENTING
Non-Core Consumer Demographics
• Other* Female
• All ages
• Caucasian
• All income levels
• 52% of total shoppers
*Other Female consumers includes all non Core Consumer Women Shoppers
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SHOPPER SEGMENTING
Non-Core Consumer Demographics*
• Male
• All ages
• 32% are over $75,000 in income
*12% of total shoppers
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SHOPPER SEGMENTING
63% of core shoppers visit at least twice per quarter
28%
23%24%
9%
4%
12%
1
2
3
4
5
6
7
2 X Month1 X Month1-2 QTR2 X Year1 X YearDon't goWeekly
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SHOPPER SEGMENTING
65% of core shoppers visit 4 of more stores
2%
33%
65%
0%
1
2
3
4
12 or 34 or moreFriends
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SHOPPER SEGMENTING
52% of core shoppers visit for greater than 2 hours
7%
42%
42%
10%
1
2
3
4
1 hour>1 to 2>2 - 4>4
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SHOPPER SEGMENTING
57% of core shoppers shop due to deals
12%
12%
58%
18%
1
2
3
4
Knowtrendsdealsfun
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TARGET SHOPPER GROUP
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TARGET SHOPPER GROUP
Who are the most valuable shoppers?
What made them most valuable?
Find out other potential shoppers.
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TARGET SHOPPER GROUPCharacteristics
Variables to identify valuable shopper*:
• Recency of visiting the mall **
• Frequency of visiting the mall
• The amount of money spent in the mall
• Household income level
*: see appendix for analysis process
**:lack of information about visiting recency of each shopper
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CUSTOMER VALUE GROUPF-M VALUE
2
3
4
5
6
7
8
0 50 100 150 200 250 300 350
124
203
297
283
182
99
37
Distribution of Customers by F-M Value
Count of Consumers
F-M
Val
ue
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CUSTOMER VALUE GROUPPercentage
210%
317%
424%
523%
615%
78%
83%
Percentage of Customer Value Group
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TARGET CUSTOMER GROUPHH Income Level
Targeting on HH Income of $100k and over
Reasons:
1. Draw Effectiveness >1.0, attracted by the Mall
2. SPI > 1.0, contributing more to sales
3. Average of total spend per visit: $255, comparing to the average of the whole group at $169
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MALL SPEND BY HH INCOME
<$24k $25k-$34k $35k-$49k $50k-$74k $75k-$99k $100k-$149k $150k-$199k $200k+$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
$150
$42
$138 $133
$96
$207$197
$445
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TARGET SHOPPER GROUP
Other variables relevant to identifying potential customers (not strongly related)
• Number of stores per visit
• Length of visit
• Whether shopping with companions
• Age
• Gender
• Household composition
• Location: distance from the mall
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COMMUNICATION STRATEGIES
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COMMUNICATION
What message will they be most receptive to?
How often?
By what means?
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RECEPTIVE MESSAGE
51.2% I like to find great deals, so I am interested in finding the best sales and discounts.
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CLUB BENEFIT
59.2% Information about upcoming sales.
54.9% special promotions only for Club members
34.6% Information about upcoming special events
• Information of sales, discounts and events is more receptive
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HOW OFTEN?
Daily12%
A couple of times a week21%
Once a month21%
Never2%
Once a week 44%
• Once a week would be more appropriate.
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BY WHAT MEANS?
76.4% don’t like a text message from mall
76.6% never heard of QR code
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BY WHAT MEANS?
1.
3.
2.
91.9% daily use
0.6 % don’t use
44.8% daily use
29.5 % don’t use
39.4% daily use
37.3 % don’t use
6.3%
84.1 %
0.4%
93.4 %
20.0%
70.6 %
1.2%
95.1 %
• Email, Facebook and Groupon are the main means.
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RECOMMENDATIONS OF SERVICES OFFERED
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SHOPPING PACKAGE
• Shopping
• Dinning
• Beauty & Spa
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SHOPPING
Fashion Stylist Available for Private Shopping Appointments
• Schedule Online/Phone
• Before & After hours available at selected retailers
• Received Gifts or Discounts
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DINING
Special Treatment at Fabulous Restaurants
• No Waiting In Line
• Chef’s Table Seating
• Private Dinning Spaces Available
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BEAUTY & SPA
Special Offers on Spa and Beauty Treatments
• Anthony Vince Nail Spa
• Mario Tricoci Hair Salon & Day Spa
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IN STORE EVENTS
Partnerships with at least one key tenant
• Store Events and Specials
• Provided discounts for shoppers to buy products at its stores
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THANK YOU!
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APPENDIX
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Correlation among variablesCorrelations
numstores numhours spend gender age income
numstores
Pearson Correlation 1 .485** .250** .101** -.169** -.058**
Sig. (2-tailed) 0 0 0 0 0.004
N 2764 2756 2755 2540 2748 2499
numhours
Pearson Correlation .485** 1 .423** .131** -.082** -0.018
Sig. (2-tailed) 0 0 0 0 0.359
N 2756 2762 2753 2540 2745 2497
spend
Pearson Correlation .250** .423** 1 .057** .057** .314**
Sig. (2-tailed) 0 0 0.004 0.003 0
N 2755 2753 2763 2542 2746 2500
gender
Pearson Correlation .101** .131** .057** 1 -.066** 0.018
Sig. (2-tailed) 0 0 0.004 0.001 0.394
N 2540 2540 2542 2557 2541 2317
age
Pearson Correlation -.169** -.082** .057** -.066** 1 .213**
Sig. (2-tailed) 0 0 0.003 0.001 0
N 2748 2745 2746 2541 2763 2502
income
Pearson Correlation -.058** -0.018 .314** 0.018 .213** 1
Sig. (2-tailed) 0.004 0.359 0 0.394 0
N 2499 2497 2500 2317 2502 2513
**. Correlation is significant at the 0.01 level (2-tailed).
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Coefficiency of gender/age/income and spend
ANOVAa
Model Sum of Squares df Mean Square F Sig.
1
Regression 1103.612 3 367.871 79.142 .000b
Residual 10649.157 2291 4.648
Total 11752.769 2294
a. Dependent Variable: spend
b. Predictors: (Constant), income, gender, age
Coefficientsa
Model
Unstandardized CoefficientsStandardized Coefficients
t Sig.
B Std. Error Beta
1
(Constant) 2.783 0.287 9.689 0
gender 0.316 0.128 0.049 2.467 0.014
age 0.012 0.031 0.008 0.378 0.706
income 0.484 0.033 0.3 14.714 0
a. Dependent Variable: spend
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TARGET SHOPPER GROUPVARIABLESFrequency recode
How often do you visit Oakbrook Court?
Weekly ----48 days a yearAt least twice a month ----30 days a year Once a month ----12 days a year Once or twice every three months ----6 days a year Twice a year ----2 days a year Once a year ----1 days a year I don't go to Oakbrook Court. ----0 days a year
Monetary recode
When you go to Oakbrook Court, how much do you spend on average?
0 - $25 ----$12.5 one time $25.01 - $50 ----$37.5 one time $50.01 - $75 ----$62.5 one time $75.01 - $100 ----$87.5 one time $100.01 - $125 ----$112.5 one time $125.01 - $150 ----$137.5 one time $150.01 - $175 ----$162.5 one time $175.01 - $200 ----$187.5 one time More than $200 ----$225.5 one time
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TARGET SHOPPER GROUP
FM=Frequency*Monetary
Segment 1 Segment 2 Segment 3 Segment 4 Segment 5
FM <$150 $150.1-$1000
$1000.1-$3000
$3000.1-$4500
>$4500.1