Defining a strategy for rolling out traditional mall retailer into non-mall stores in multiple markets
Past experience and success with off-mall rollouts leads to exceeding goals
In 2010, Select Comfort, a designer and manufacturer of adjustable-firmness mattresses featuring air-chamber technology, made the strategic decision to begin operating in non-mall locations to help build store and brand awareness and to reduce overall occupancy costs. They were seeking a partner with significant non-mall expertise to develop a real estate strategy.
SRS provided strategic consulting and tenant representation services to an initial group of 40 trade areas across 10 states. After the initial success of the initiative, Select Comfort quickly added an additional 57 trade areas for evaluation to the assignment.
"SRS Real Estate Partners exceeded our expectations for many of our key market areas. With their assistance, we successfully met open-to-buy goal and over-achieved on all deliverables related to our real estate initiatives."
– John Key, Select Comfort Corporation, Director of Real Estate & Construction
Services Provided
- Strategic consulting
- Tenant representation
- Customer analysis
- Market studies
- Research maps
- Off-mall market strategy
Results
- 56 completed deals in 13 different states
- 35 more in various stages of completion at time of publishing