Consumer Code

In an insightful conversation, retail veterans Dave Huntoon and Brian Strickland dive into the intricacies of retail site selection. Huntoon, with over 40 years in location research, discusses the impact of tight market spaces and the importance of quick adaptation. Strickland, a data analytics specialist, highlights the role of mobile data and customer profiling in strategic decisions. They explore balancing data with real-world insights, evaluating competitive positioning, and the transformative power of technology in understanding consumer behavior.

"When you put data up against a gut feeling, the data wins more than 50% of the time." In this episode, Andrew Neelon, founder of 1REC and SVP of Development & Strategy at Elase Med Spas, discusses the intricacies of retail site expansion and market selection. He shares insights from his experience at Bonobos, highlighting the importance of data-driven decision-making in site selection, the unexpected successes and failures of various locations, and the contrasting dynamics of e-commerce and brick-and-mortar retail. Neelon emphasizes the need for DTC brands to understand unit economics, forecast ROI accurately, and navigate the complexities of staffing and lease agreements. He also challenges conventional wisdom in site selection and advocates for a nuanced approach to understanding customer demographics and market saturation. Chapters: (00:00) Introduction to Retail Site Expansion (03:27) The Evolution of Bonobos: From E-commerce to Brick-and-Mortar (06:31) The Power of E-commerce Data in Site Selection (09:15) Unexpected Successes: Case Study of the Shea in DC (12:27) Lessons from Failed Locations: The Walnut Street Experience (15:29) Understanding the Economics of E-commerce vs. Brick-and-Mortar (18:32) Strategies for DTC Brands Considering Brick-and-Mortar (21:32) Forecasting ROI for New Retail Locations (24:24) Step-by-Step Process for DTC Brands Entering Retail (29:04) Navigating the Chaos of Opening a New Store (29:41) Market Selection: Beyond E-commerce Data (32:03) Understanding Market Saturation and Competition (34:24) Scaling Store Locations: The Complexity of Expansion (38:28) Store Rationalization: Cost Management and Metrics (44:08) Lease Agreements: Understanding the Financial Implications (45:07) Operational Considerations in Site Selection (47:25) The Role of Pop-Up Shops in Market Testing (50:49) Marketing Strategies for New Store Openings (52:44) Challenging Conventional Retail Site Selection Methods Follow Andrew Neelon on: LinkedIn | 1REC | Substack (Clicks to Bricks) Listen to Consumer Code on: Spotify | Apple | YouTube Follow Lyden Foust on: LinkedIn | Instagram About Spatial.ai: Spatial.ai’s PersonaLive is an advanced consumer segmentation platform for developing data-driven marketing strategies. PersonaLive categorizes U.S. households into 17 groups and 80 segments using consumer behavior data from transactions, mobile visits, and social media activity, providing marketers with deep insights for effective audience targeting. From mid-sized retailers and agencies to Fortune 500 companies, hundreds of businesses use PersonaLive to drive strategic decisions and enhance marketing performance.  Learn more at spatial.ai or schedule a free 30-minute demo.

"Here's the beauty of demography: it's simple. It's not rocket science. Demographics is definitive." In this episode, Ken Gronbach discusses the profound impact of demographics on business and marketing strategies. He shares insights from his experiences in the advertising industry, particularly focusing on generational shifts and their implications for market dynamics. Gronbach emphasizes the importance of understanding population trends, labor market changes, and the role of immigration in shaping economic opportunities. He also highlights the significance of geography in market success and provides examples of how businesses can leverage demographic insights for growth. The discussion concludes with predictions for the future, particularly regarding Generation Z and the Americas' economic prospects. Chapters: (00:27) Introduction (06:22) The Impact of Generation X on Markets (13:01) Understanding Market Dynamics and Labor Needs (18:21) The Importance of Immigrant Labor in the Economy (21:36) Geography's Role in Market Success (23:24) Demographic Trends in Retail and E-commerce (27:48) Common Mistakes in Understanding Demographics (32:37) The Future of Generation Z and Market Opportunities (35:24) Looking Ahead: The Future of the Americas Listen to Consumer Code on: Spotify | Apple | YouTube Follow Lyden Foust on: LinkedIn | Instagram Follow Ken Gronbach on: Website | LinkedIn About Spatial.ai: Spatial.ai’s PersonaLive is an advanced consumer segmentation platform for developing data-driven marketing strategies. PersonaLive categorizes U.S. households into 17 groups and 80 segments using consumer behavior data from transactions, mobile visits, and social media activity, providing marketers with deep insights for effective audience targeting. From mid-sized retailers and agencies to Fortune 500 companies, hundreds of businesses use PersonaLive to drive strategic decisions and enhance marketing performance.  Learn more at spatial.ai or schedule a free 30-minute demo.

"Companies like Apple and Google have a clean simple feed for themselves while everyone else is working with the scraps of the data. But what we're able to do with those scraps can be really powerful." In this episode, Lyden Foust interviews Jack Schroder, Lead Data Scientist at Spatial.ai, to explore the intricacies of mobile location data. They discuss its definition, various use cases, the importance of customer segmentation, privacy concerns, and the sources of mobile data. Chapters:  (00:00) Introduction (01:29) Understanding Mobile Location Data (02:52) Use Cases of Mobile Data (06:37) Customer Segmentation and Insights (08:24) Privacy Concerns and Data Aggregation (10:49) Limitations of Mobile Data (15:06) Factors Affecting Data Accuracy (20:35) Evaluating Mobile Data Providers (26:03) Advice for Using Mobile Location Data Follow Jack Schroder on: LinkedIn Listen to Consumer Code on: ⁠Spotify⁠ | ⁠Apple⁠ | ⁠YouTube⁠ Follow Lyden Foust on: ⁠⁠LinkedIn⁠⁠ | ⁠⁠Instagram⁠ About Spatial.ai: Spatial.ai’s PersonaLive is an advanced consumer segmentation platform for developing data-driven marketing strategies. PersonaLive categorizes U.S. households into 17 groups and 80 segments using consumer behavior data from transactions, mobile visits, and social media activity, providing marketers with deep insights for effective audience targeting. From mid-sized retailers and agencies to Fortune 500 companies, hundreds of businesses use PersonaLive to drive strategic decisions and enhance marketing performance.  Learn more at ⁠spatial.ai⁠ or ⁠schedule a free 30-minute demo⁠.

"I want data to be in charge of us instead of us in charge of data. Let data speak for itself." In this episode, Richard Webber—founder of the Mosaic and Acorn geodemographic segmentation systems—shares how OriginsInfo (aka Origins) began. OriginsInfo is a consumer insights consultancy and analytics tool enabling applications and businesses to acquire valuable customer insights purely from a first or last name. Lyden and Richard discuss the role of cultural heritage in geodemographics and how AI could impact the future of the industry. Chapters:  (00:00) Introduction (00:45) What is Origins? (2:43) How Origins began (6:57) Targeting cosmetics to ethnic groups (7:53) Methods for finding the origin of surnames (11:16) How curiosity leads to innovation (12:25) Combining PersonaLive and Origins (13:19) Cultural heritages and professions (17:05) Data-driven vs theory-driven decisions (19:31) Letting data be in charge of us (20:28) Origins and AI (23:30) The benefits of travel (24:54) Lyden's journey into geodemographics (25:54) Conclusion Learn more about Richard Webber and Origins at ⁠https://originsinfo.com Listen to Consumer Code on: Spotify | Apple | YouTube Follow Lyden Foust on: ⁠LinkedIn⁠ | ⁠Instagram About Spatial.ai: Spatial.ai’s PersonaLive is an advanced consumer segmentation platform for developing data-driven marketing strategies. PersonaLive categorizes U.S. households into 17 groups and 80 segments using consumer behavior data from transactions, mobile visits, and social media activity, providing marketers with deep insights for effective audience targeting. From mid-sized retailers and agencies to Fortune 500 companies, hundreds of businesses use PersonaLive to drive strategic decisions and enhance marketing performance.  Learn more at spatial.ai or schedule a free 30-minute demo.

"We're here 50 years later and this same type of thinking is still used throughout marketing." In this episode, Lyden Foust is joined by Richard Webber, the originator of geodemographic segmentation systems, Mosaic and Acorn. They discuss the evolution of these systems, the importance of understanding both human behavior and computer data, and how these classifications have been applied in market research and social planning. Webber shares insights from his early work in Liverpool, the transition to commercial applications, and the role photography played in the development of these systems. Chapters: (00:27) Introduction (02:35) What is a geodemographic segmentation system (04:39) Classifying Liverpool neighborhoods (08:30) Appending service data (10:37) Demographics and behavioral data (11:43) Creating England's national classification (13:57) Commercialization of Acorn (18:41) Segment naming and imagery (21:14) The role of photography in classification (24:49) Validating classification systems (28:28) Geodemographics in political campaigns (31:27) Tennis players vs golfers (32:08) Polarization of neighborhoods Learn more about Richard Webber and Origins at ⁠https://originsinfo.com Listen to Consumer Code on: Spotify | Apple | YouTube Follow Lyden Foust on: ⁠LinkedIn⁠ | ⁠Instagram About Spatial.ai: Spatial.ai’s PersonaLive is an advanced consumer segmentation platform for developing data-driven marketing strategies. PersonaLive categorizes U.S. households into 17 groups and 80 segments using consumer behavior data from transactions, mobile visits, and social media activity, providing marketers with deep insights for effective audience targeting. From mid-sized retailers and agencies to Fortune 500 companies, hundreds of businesses use PersonaLive to drive strategic decisions and enhance marketing performance.  Learn more at spatial.ai or schedule a free 30-minute demo.