Case Study
Key takeaways
- Clarion Partners needed to shift from an intuition-driven approach to a data-driven strategy to convince a leading athleisure retailer to sign a lease along Magnificent Mile in Chicago.
- Qloo’s ability to provide detailed consumer preferences at a granular level enabled Clarion to understand and demonstrate the retailer’s strong potential among shoppers on North Michigan Avenue, highlighting the value of precise audience insights in decision-making.
- By analyzing the athleisure brand’s fit with other co-tenants, Qloo’s insights helped Clarion present a compelling case that the retailer would not only fit but thrive in the competitive retail landscape, emphasizing the importance of complementary tenant analysis.
- With rapid access to Qloo’s detailed insights, Clarion was able to swiftly refine and finalize their pitch, illustrating how advanced AI-powered tools can expedite critical business processes and secure high-value deals efficiently.
Clarion Partners, a major player in real estate investment, understands the fierce competition in retail. To boost the value of their retail assets, they must select tenants that satisfy locals, commuters, and tourists alike—otherwise, they risk high turnover from poor sales. Pinpointing the right retailers is just the first step. Next, they need to convince those retailers to sign the lease. This traditionally intuition-driven process needed a data-driven boost as brands became more selective about their locations.
Clarion zeroed in on a leading athleisure brand for a high-profile project on North Michigan Avenue, famously known as the Magnificent Mile. But the retailer had one major concern—how to stand out when many of its direct competitors were already in the same neighborhood.
Clarion needed more than good relationships to seal the deal with the retailer—they needed solid data, and fast. Enter Qloo’s Taste AI intelligence engine.
The Qloo solution
Using Qloo’s self-service insights platform, Clarion crafted a winning pitch for the athleisure retailer. Qloo’s Taste AI, the largest repository of consumer preferences, provided detailed audience insights down to a city block in milliseconds.
Qloo first analyzed the taste preferences of shoppers around the Magnificent Mile. The data showed that the retailer wasn’t just liked; it was the top brand, indicating a customer base eager for innovative and high-quality apparel.
Qloo then assessed how the retailer would fit among other tenants Clarion attracted. The analysis revealed that shoppers’ preference for the brand increased when considered alongside these retailers. For the first time, Clarion had hard data showing the athleisure brand as the perfect addition to the district.
Results
With an assist from Qloo, Clarion’s team had new insights showing the retailer’s strong potential on the Magnificent Mile. This data-driven approach helped Clarion’s leasing team move beyond intuition and position the target brand as the future crown jewel of the district.
“While you cannot make or financially motivate a retailer to take a space they do not want, you can influence their decision by uncovering priority markets and retail locations. Qloo’s affinity insights were incredibly valuable in helping our target retailer understand the potential of opening a store on North Michigan Avenue. The co-tenant analysis assisted them in prioritizing our location and now our leasing team is making it happen.”Scott Trafford, SVP, Asset Management, Clarion Partners
Building an AI-powered future
By leveraging Qloo’s Taste AI, Clarion scored a winning deal, proving that in real estate, data-driven decisions are the ultimate playmakers. These insights transformed Clarion’s approach to attracting and securing top tenants, enhancing the value of their commercial assets now and in the future.
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