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VENUESCORE USA from Javelin Group

Where are the dominant shopping venues in the USA? What is the retail mix (food, fashion, finance)? Does the venue target affluent or value consumers? Where do consumers travel from to shop there? and what are their demographics? How can this help me better understand my investment asset, store network and/or target customers?

VENUESCORE USA from Javelin Group (part of Accenture Strategy) provides retailers, brands, property developers and owners with insight into the US shopping venue hierarchy including scale of offer, market positioning, ‘fashionability’ and age positioning.The spatial relationships which exist within a store estate such as proximity to other retailers or customers typically has a direct effect on store performance. Ensuring that your retail portfolio is optimally sized and distributed across a given market requires a holistic and detailed location strategy underpinned by the right data, models and tools.

VENUESCORE USA is one of a series of proprietary location insight datasets created by Javelin Group to help our clients understand the full potential of their retail property assets.

Our US ranking is built from a database of over 2 million store locations nationwide, with each retailer given a ‘score’ based on their level of attractiveness and likely impact on shopping patterns. Retailers are also attributed based on their service type offering, market positioning and age positioning. Stores are then grouped together into logical retail venues using intuitive spatial clustering, with each grouping (or ‘venue’) labelled and profiled based on the summed score of the retailers it contains. The resultant VENUESCORE USA dataset represents a detailed view of the retail geography of the USA, with over 30,000 venues defined and profiled.Venues represent discrete shopping destinations which consumers choose to visit (e.g. Glendale Galleria vs. Downtown Los Angeles represent two distinct venues).

The top 5 ‘downtown’ venues defined by VENUESCORE comprise three areas in New York’s Manhattan and two in Downtown Chicago, showing the strength of retail offer in these major north-eastern US cities.

In terms of stand-alone malls, the 2nd and 3rd largest US malls in terms of sqft (King of Prussia Mall and South Coast Plaza) also rank in the VENUESCORE USA top 5, but by encompassing any neighbouring retail and weighting by the quality of the retail offer, VENUESCORE USA provides a unique lens for identifying and exploring major US Malls – placing Glendale Galleria in the top spot.

VENUESCORE USA also provides insight into the retail mix in each location, including FASHIONSCORE (where unsurprisingly LA’s fashion district comes up tops) and FOODSCORE (which picks out New York’s China Town as the largest scale venue for any foodies). VENUESCORE USA also covers market positioning, with the most upmarket venue being the Bal Harbour Mall in Miami, whilst Philadelphia’s Germantown offers one of the most value-focussed retail offers in the country.

VENUESCORE USA can act as the foundation by which assets can be reviewed and profiled, facilitating strategic recommendations built through a robust spatial lens. Understanding where your target customers are, the drivetimes/catchment areas around venues and the interaction between venues are key to understanding and exploring retail performance.

VENUESCORE USA provides a key input into strategic ‘Shape of Chain’ location planning analysis whilst also forming a user-friendly, interactive dashboard tool that can be deployed to complement your analytics suite. Please contact me if you would like to find out more about how our US rankings can help in your evaluation of the nation’s retail venues.