Purpose of the session: Understanding how brands decide on real estate locations and exploring careers in retail real estate.
Notable speakers: Leaders from Cadillac Fairview, McDonald's, and Sobeys.
Agenda includes sharing career beginnings, the role of data in decision-making, a live demo of Pinpoint software, and a Q&A session.
Speaker Introductions
Kevin Atchin
Position: Senior Director of Research and Insight at Cadillac Fairview.
Experience: 20 years at Cadillac Fairview.
Role: Acts as the analytics hub for business, supporting teams in leasing, marketing, and development.
Foundation Involvement: Serves on the ICSC Foundation Board.
Data Emphasis: Highlights the importance of data in shaping future real estate decisions.
Goal: Educate attendees on future real estate possibilities and their questions.
Kathy (no last name provided)
Background: Started in brokerage, specifically residential sales of condos.
Career Journey: Transitioned into retail real estate and has worked with significant brands like Uniqlo and Nordstrom.
Personal Insight: Emphasizes diverse career paths within retail real estate.
Anna (no last name provided)
Academic Background: Studied employment relations, with an unexpected introduction to real estate through a GIS course in university.
Professional Evolution: Graduated to a master's program focusing on business due to interest in geography's applications in real estate.
Real Estate Philosophy: Describes the synergy of art (qualitative insights) and science (data-driven insights) in real estate.
Career Transition: Worked in Calgary seeking a job with Walmart, which marked her entry into retail real estate.
Key Discussion Points
Career Introductions in Retail Real Estate
Experiences Shared: Each panelist discusses their unique journey into retail real estate, illustrating that various entry points exist.
Audience Engagement: A brief poll about how attendees learned about retail real estate, revealing low familial connections but significant independent inquiries regarding interest.
Kevin's Career Development and Insights
Initial Experiences: Discussion on the evolution within his career and exposure to various asset classes.
Data-Driven Decisions: Kevin emphasizes the importance of data in influencing leasing practices and market understanding.
Market Example: The case of Barrie mall highlights the disconnect between demographics and consumer behavior, affecting retailer success.
Significance: Proper analysis prevents bad deals based on incorrect assumptions about consumer habits and demographics.
Kathy's Role in Market Dynamics
Market Strategy Discussion: Managing store relocations to avoid cannibalizing existing locations while innovating based on market demands.
Partnership with Analytics: The importance of a dedicated data analytics team in supporting leasing and sales decisions, moving beyond traditional methods of market assessments.
Data Tools in Retail Real Estate
Anna's Insights on Tools
Alteryx: Describes how this tool aids in creating data workflows, enhancing analytical capabilities in real estate.
Importance of Familiarity with Tools: Stakeholders should be knowledgeable of tools such as Alteryx or Esri when entering the job market to stand out.
Data Analytics and Consumer Insights
Consumer Insights Team: Anna argues for leveraging primary research data, including insights from a dedicated shopper panel at Cadillac Fairview. This enables understanding performance issues in malls.
Geospatial Analytics: Discussion of maps and mobility data, moving beyond traditional surveys to understand consumer behavior without intrusions.
Case Studies in Consumer Behavior: Reflects on retail strategies based on use of advanced analytics to support decision-making and site selection.
Importance of Experience and Networking in Careers
Internship Insights: Kathy shares insights on the difficulty large firms face in successfully integrating interns into their processes due to lack of resources.