Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

Pier 1 Closures - Who Stands to Gain?

by 
Jocelyn Bauer
 on 
January 28, 2020
Pier 1 Closures - Who Stands to Gain?

Pier 1 is set to shutter nearly half of its offline footprint in 2020.  While this isn’t great news for the brand, it could be good news for surrounding stores that have the potential to gain significant foot traffic from these closures. 

We analyzed four different states, California, Florida, New York and Pennsylvania, to see which stores stand to benefit the most.  To do this, we analyzed Cross-Shopping patterns - how many visitors overlapped with both stores over a given period of time. Some studies have used proximity as the primary indicator, but we believe location data provides a much more in-depth perspective. While the patterns may already be influenced by closures that happened in 2019, they still provide a powerful indicator of who stands to gain most.

Let’s take a closer look to see what the ultimate impact could be. 

Biggest Beneficiaries 

When we look at Florida and analyze the period from June 2019 through December 2019, we see that 10.6% of Pier 1 visitors also visited a Target on the same day.  It’s important to note that this is the percentage of Pier 1 visitors that also went to Target. Obviously, Target, like Walmart, benefits from having a much wider stock thereby increasing the likelihood of cross-shopping. However, considering both brands stock goods that one would find at Pier 1, the patterns point to a powerful opportunity. HomeGoods is also well-positioned to receive value from the closures.

In California, Target and HomeGoods again see a huge potential gain.  9.9% of Pier 1 customers also visited Target on the same day and about 7.6% visited a HomeGoods. 

Results didn’t vary much when we looked at New York and Pennsylvania.  Target saw 8.3% and 9.2% Cross-Shopping in those states respectively, while HomeGoods saw 7.4% and 7.3%. 

Wild Cards

Yet, the wild cards are almost as interesting as those most likely to see short term gains. Bed Bath & Beyond, Home Depot and Lowe’s are all positioned to see elements of their business enjoy a bump. However, none provide a direct competitor to Pier 1, and will therefore likely only see a fraction of new traffic.

Which turns our attention to Walmart. With massive stores, huge distribution and the ability to quickly fill in stock, there may be a huge opportunity for the retail giant. This would obviously require a fairly significant shift in how the brand is perceived by this new audience, alongside merchandising challenges. However, with a retailer that has proven both innovative and fast-moving, it remains one of the more interesting players to watch., 

What percentage of these shoppers will continue to shop at HomeGoods or Target with Pier 1 out of the picture?  

Check back in with us at the Placer.ai blog to find out! 

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
Limited Time Offers: Price Wars Boost Visits
Placer 100 Index for Retail & Dining: June 2024 Recap
Placer.ai Mall Index: June 2024 Recap
Placer.ai Office Index: June 2024 Recap
Inside Out 2: The New Blockbuster Bringing Crowds Back to Theaters
Petco and PetSmart: A Head to Head
Frozen Delights: Exploring Ice Cream Chains Across America
Placer.ai White Paper Recap – June 2024
Barnes & Noble: Writing a New Story
Small Format Stores - Sprouting, Blooming, and Expanding
Retail and Dining on Father’s Day
Thrift Store Visit Scores
Charting Value Grocery’s Visit Growth
Placer 100 Index for Retail & Dining: Introduction and May 2024 Recap
Digging Into Darden: Q2 2024 Update
2024 Retail and Dining Trends Update
TRU and avid: Midscale Hotels on the Rise 
Diving Into Kroger: A Strong Start to 2024
Placer.ai Mall Index: May 2024 Recap – Mall Visits on the Rebound
Placer.ai Office Index: May 2024 Recap
2024 Memorial Day Recap
Las Vegas: A Tourism and Migration Deep Dive
Eatertainment Chains: Full on Food, Fun, and Foot Traffic
The Promise of Luxury Apparel
Catching Up With Ulta Beauty & Gap Brands
Ollie’s Bargain Outlet and Five Below: Q1 2024 Treasure Troves
CAVA Still Going Strong
Driving Success: Auto Parts Chains in 2024
Checking in With DICK’S Sporting Goods
Mother’s Day Shopping and Dining Trends
Placer.ai Mall Index: April 2024 Recap – Retail Resilience Heading into Spring
Dollar Stores Still Gaining Momentum
Off-Price Apparel Chains After Q1 2024: Demographics in the Balance
Walmart, Target, and Wholesale Clubs Continue to Thrive
Home Improvement and Decor Check In
Placer.ai Office Index: April 2024 Recap – Recovery Continues
Movie Theaters in Q1 2024: A Preview of Coming Attractions?
Let’s Get Physical: Fitness In 2024
Where Are Workers Returning to Office in 2024?
2024 Wins: Sweetgreen & First Watch on the Rise
A Full-Service Turnaround: Bloomin’, Dine, and Texas Roadhouse
Wendy’s and Denny’s: Breakfast and Late Night Dining Drives Success
Coffee Chains: Q1 2024 Update and What’s Changed Since COVID
Checking in with RBI and YUM!
Chipotle & McDonald's Serving Up Success
Wingstop & Shake Shack Continue Growing Their Reach 
Strong Start for Sprouts in 2024
Crocs’ Footwear Fairytale
Who Attends NCAA Final Four Events?
Eclipse Fever: How Did the (Retail and Hospitality) Stars Align?
Exploring Albertsons Companies’ Grocery Growth
Placer.ai Mall Index: March 2024 Recap – Malls Rise Again
Placer.ai Office Index: March 2024 Recap
Florida Spring Break Break-Up? Travelers Still Love Florida!
Provo-Orem and Ogden-Clearfield Emerging As Utah Hotspots 
Three Formulas for Experiential Retail in 2024
Aldi & Lidl Making The Cut
Texas Suburbs on the Rise
Exploring Luxury Hotel Brands’ Guest Segmentation
The St. Patrick’s Day Effect
How Can JOANN Make a Comeback?
Panera Bread Well Positioned for Possible IPO
Who Will Benefit From Family Dollar’s Downsizing?
Dave & Buster’s and Main Event Entertainment: Food and Fun for Everyone
Darden Brands: Location Analytics and Consumer Behavior
Nike and lululemon: a Strong 2023, Sprinting into 2024
Where Is Retail and Dining Foot Traffic Thriving in Early 2024?
Placer.ai White Paper Recap – February 2024
Three Retail & Dining Chains That May Surprise in 2024
Specialty Discount Chains Rock Retail Therapy
Placer.ai Mall Index: February 2024
Placer.ai Office Index: February 2024 Recap
Ulta Beauty Continues To Shine
First Watch Sails Into 2024
Hibbett Sports and DICK’S Sporting Goods: A Psychographic Analysis
Checking in With Discount & Dollar Stores
Peeking Behind The Curtain: Movie Theaters in 2023 and Beyond
Diving Into Brick-and-Mortar Eyewear
Getting Into Gear: Exploring The Auto Part Industry
Recapping Valentine’s Day 2024 Foot Traffic Trends
Fitness: A Strong Start to 2024
Dutch Bros. Continues To Percolate Visits
Super Bowl 2024: Placer.ai’s Postgame Foot Traffic Analysis
CAVA & sweetgreen Are On the Rise
Hats Off For Off-Price
Who Is Shopping at Malls?
Drilling Down Into Home Improvement
Walmart, Target, Costco & Superstore Space 2023 Recap
Catching Up With Shake Shack and Wingstop
Something To Chew On: Demographic Shifts at Steakhouse Chains
Placer.ai Office Index: Looking Back at 2023
Recapping RBI & Yum! Brands’ 2023 Foot Traffic Performance
Placer.ai White Paper Recap – January 2024
Who Shops at Anthropologie and Urban Outfitters?
Three Taco Chains to Watch in 2024
Starbucks and Dunkin’: 2023 in Four Data Points
Who Visits CVS and Walgreens?
Fashionably Frugal: Apparel in 2023
Catching Up With Fast Food
The Grocery Sector in 2023: An End-of-Year Recap