How To Use Retailsphere To Search

Filling The Pier 1 Void With Retailsphere

In this article we examined what happens when a National Brand like Pier 1 Imports declares bankruptcy, and how to search for potential replacement tenants by using the database to find competitors. 

Pier 1 Imports declared bankruptcy and is closing all of its stores. Pier 1 was known for quirky home decor and furniture, with large, open concept retail space. Their closures leave many shopping centers with open occupancies primed and ready for new tenants. 

While Pier 1 may have failed, this does not mean other trendy home goods retailers won’t thrive in the same space. Customers are most likely used to that location serving the same function, and a large anchor tenant like Pier 1 could have been meticulously picked to compliment the surrounding occupants. 

So how can we find new tenants with similar demographics, but a healthier background? Retailsphere makes it simple. 

Type in Pier 1 Imports in the main search bar of Retailsphere. Make sure to click National Brands, and then click their headline to access their complete brand profile. While the company is bankrupt, you’ll still be able to access a list of their direct competitors to help lead you to a tenant match. 

Click “Show Filters” on the top right corner to reveal a dropdown menu of options for similar companies in various categories. Inside Retailsphere, Pier 1 is classified as a Big Box Home Improvement store and well as a Furniture store. You can also define this search by choosing Franchise, Multi Unit Groups, or National Brands. Clicking “Add To Map” will show you all the current locations of a certain brand. And clicking the brand name will bring you to their brand info page.

Looking at statements from Pier 1’s former CEO about the brand’s competitors can also help you use Retailsphere to its fullest potential. He was quoted as saying that customers had found Pier 1 too expensive, and slightly down market brands, such as Home Goods, Home Sense, Cost Plus World Market and even Target were their direct competition. 

By choosing “National Brands” or “Multi Unit Groups” at the top of Retailsphere, you can open a custom search based on this data. In this example, “Retail Specialty” is chosen for the “Main Category.” Clicking search will generate a large list of options. Choose specific filters on the left side bar to narrow your search inside Retailsphere and find the best matches for your area and demographic. In this example, filters were added for “Discount Department Store.”

You can choose to “Add Retailer” to a running list of options, or select a brand to do more research, find a direct contact, and see if the brand has stores in your area. 

If home goods retailers have been popular in your area, and you wish to fill your Pier 1 vacancy with something similar, Retailsphere can help you find the perfect fit. If you’re looking to change the type of tenant you rent to, finding a totally new option by searching the Retailsphere database will surely help. Schedule your no-obligation demo today for even more detail on our retail tenant database.