This week, we take a look at some lifestyle brands that are gaining customer loyalty by being more than a one-trick pony, and simultaneously offering commercial real estate owners and operators new opportunities for retail, dining, classes, and old-fashioned opportunities to socialize with others in person.
Alo Yoga: Once-A-Year Aloversary Sale Event Drives Visitor Loyalty
Alo devotees showed up in earnest last week (May 1-5) during the brand’s annual event where most of the store was marked 30% off. Can’t decide between the Airlift or Airbrush leggings, why not get both? Shoppers at Newport Beach were particularly eager to shop, with visits up 92% YoY. Beverly Hills shoppers were also enthusiastic, with visits up 78%. It’s hot in Miami, and so was the Alo sale with traffic up 53%. The locations at the Grove and Palisades Village also saw upticks in visitation. At Alo, you can do more than just buy yoga gear. Select locations also offer yoga sanctuaries where you can take classes and others have cafes and juice bars for that post-yoga glow.
While the Grove has the largest number of visits among this set of Alo stores, its Beverly Hills and Palisades Village locations have the greatest proportion of loyal visitors (those visiting more than two times a year) at 1.2 and 1.25, respectively, compared to 1.02-1.07 for the other stores.
Topgolf: The "Eatertainment" Ripple Effect
The rise of eatertainment is an Anchor topic that we’ve covered previously. Topgolf’s year-over-year visits (which is largely a function of the company's expansion efforts the past few years) show that there’s indeed high interest in activities where you can go out and enjoy time with friends that combine eating and entertainment.
Opening a Topgolf shows immediate effect, as proven by this location that opened in El Segundo, CA in April 2022. It is adjacent to the Lakes at El Segundo, a traditional golf course, and thus combines old and new for all types of golf lovers.
Cooper's Hawk: More than Just a Place to Dine, it's a Lifestyle
Cooper’s Hawk Winery and Restaurants has been one of the fastest growing restaurant brands in the nation, and one of their secret weapons is their multi-faceted strategy that includes a restaurant, a thriving wine club, a tasting room, and retail. With prices that are in the “upscale casual” range and the thrill of discovering a new wine every month as part of the wine club, it has a loyal following that goes there for tastings, celebrations, and just overall socializing.
We took a look at some other restaurant chains that are also known for their wine menus, as well as two bev-alc chains for wine enthusiasts who prefer to imbibe at home. The monthly year-over-year growth shown by Cooper’s Hawk is quite astounding, with a high of +30% year-over-year in January 2023.
One reason for this growth may be related to the brand’s strategy of opening restaurants in smaller cities and commuter neighborhoods, which has been a boon with many people now working hybrid schedules or fully remote. Headquartered in Illinois, there is a healthy sprinkling of venues all over the Chicago suburbs and beyond.
Moniker General: Coffee, Cocktails, and Clothes
Situated in one of San Diego’s coolest historic neighborhoods, Liberty Station, Moniker General is a multipurpose cafe, cocktail bar, and retail shop that features everything from live music to comedy clubs, and fitness classes to supper clubs. It’s really a gathering place for the whole community, and it’s hard to pigeonhole it into just one category of offerings.
The Surgeon General recently said that loneliness is plaguing Americans, and thus these spaces where communities can gather become ever so much more valuable to our social lives. Moniker General’s year-over-four-year visits attest that it’s even stronger now than it was pre-COVID.
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