Study: Grand Forks mall leads in local shoppers
San Francisco – The Grand Cities Mall in Grand Forks, North Dakota leads all U.S. shopping malls in both the presence of shoppers who live and the presence of shoppers who work within three miles. According to the new Mall Shopper Mobility Report from Streetlight Data, the Fashion Outlets of Las Vegas in Primm, Nevada, leads in the presence of shoppers living more than 25 miles away, while Southside Plaza/Circle Center in Richmond, Virginia, leads in how much more (or less) wealthy a property’s shoppers are than the nearby residents, defined as people who live within three miles.
Other insights from the report include:
• It is more likely for a mall/center to draw a shopping crowd that is wealthier than nearby residents rather than less wealthy. Thus, trade area analyses relying on drive-time polygons or proximity may often be underestimating spending potential.
• Americans go on more frequent shopping trips, often buying fewer items per trip, than ever before. At the same time, customers have become more particular, willing to travel further to access certain brands and shopping experiences.
• Today, nearly a third of the miles driven in the U.S. are for shopping.
Ferrandino & Son hires VP operations
Farmingdale, N.Y. – Ferrandino & Son Inc., a provider of exterior maintenance, facility services, HVAC, lighting and electrical services, painting and general contracting, has hired Tom Panek as VP operations. Panek will be responsible for the day to day operations across all of Ferrandino & Son programs.
“Tom brings a background in process improvement and people development,” said Kevin Smith, COO. “As our growth is as a much a function of Best in Class Service through great processes and great people, his strengths align perfectly with the foundation that allows Ferrandino & Son to continue to be a market leader.”
Market Basket expands use of Revionics pricing
Austin, Texas — Market Basket Grocery Stores, a privately-owned grocer with 34 full-service supermarkets in the East Texas and Louisiana region, has renewed and expanded their agreement for Revionics Life Cycle Pricing Optimization. They expanded the agreement to also include Revionics Advanced Analytics services, such as the Key Value Item (KVI) Analysis, which will enable them to leverage science to better align their KVIs with shopper behavior and the competitive landscape.
Market Basket initially leveraged Revionics Price Optimization to compete more profitable against several large, dominant competitors. Having successfully executed this strategy over the past years, their current focus is on using optimization to grow market share.
“As a Revionics customer since 2009, I can’t emphasize enough how satisfied we are with the results driven from Revionics’ solutions and how much we appreciate their strong partnering approach,” said Skylar Thompson, president of Market Basket. “Since implementing Revionics, we have seen a significant ROI in profits. In addition, we have experienced improved visibility and management of our pricing efforts which has enabled us to become more efficient and execute a consistent price image.”