Fresh merchandising gained wallet share of wealthy shopper
First and foremost, an owner must understand its consumers; then craft a special collection of retail to meet their dreams and desires. At Phipps Plaza, Tisha Maley, introduced a collection of contemporary brands curated for the wealthy Atlanta consumer. This compelling mix drove fierce shopper loyalty and improved the asset’s overall performance.
Leasing and merchandising two assets, Lenox Square and Phipps Plaza, that sit across the street from each other can be challenging. Therefore, it was key to create a unique personality for each asset. The wealthy Atlanta consumer living in the Buckhead micro market loves to wear color, prefers a “put together” outfit, is extremely wealthy and philanthropic, and enjoys being a fashionable trendsetter. Tisha Maley envisioned Phipps Plaza as an exclusive collection of shops and restaurants that spoke specifically to this woman.
To do this, Tisha Maley evaluated the retail landscape seeking out fresh brands that reflected the Phipps shopper’s style. In 2010, she began the process of remerchandising the first floor of Phipps Plaza with a collection of complementary brands that included: Tory Burch, Trina Turk, Lily Pulitzer, Jack Rogers, LK Bennett, Rebecca Taylor, Joes Jeans and more. Maley’s strategy was extremely effective as it increased shopper loyalty, traffic to the first floor, and, ultimately, rents.