Lessons from 2024: The Three Traits of a Resilient Retail Expansion Strategy

As we reflect on the challenges and successes of 2024, one truth stands out: resilience in retail real estate is more important than ever. The ability to navigate uncertainty while identifying and seizing growth opportunities has defined this year’s brand leaders.

But what does resilience look like in action? From working with retailers and franchisors across industries, three key traits have emerged as the foundation of a strong expansion strategy: agility, data-driven decision-making, and cross-functional collaboration.

1. Agility: Adapting to Market Shifts

The pace of change in the retail world is relentless. From evolving consumer behaviors (especially as a result of the pandemic) to external economic pressures, teams need to pivot quickly without losing sight of their goals.

The most successful retail real estate teams we’ve seen embrace flexibility, whether that means reevaluating site selection criteria, exploring new formats like smaller-footprint stores, or adjusting growth plans to align with local market trends.

Agility means being prepared to shift gears—quickly and confidently.

2. Data-Driven Decision Making: Insights Over Instincts

While gut instinct will always have a place in decision-making, today’s resilient retailers and franchisors are augmenting their intuition with the power of data. By combining experience and expertise with actionable insights, teams can better understand market dynamics, identify opportunities, and mitigate risks with confidence.

Whether it’s analyzing demographic trends, foot traffic patterns, or competitive density, the ability to translate raw data into clear, actionable insights is a game-changer. Real estate teams that invest in tools to automate and streamline these processes not only enhance their intuition but also gain the clarity needed to make faster, more informed decisions.

At PiinPoint, we’ve seen how this balance of instinct and data transforms outcomes for teams of all sizes. By turning complex datasets into intuitive visuals and meaningful insights, we make data a powerful ally for decision-makers—no GIS training required.

3. Cross-Functional Collaboration: Breaking Down Silos

Retail real estate decisions impact (and are impacted by) many parts of an organization. Successful real estate strategies require seamless collaboration across real estate, operations, marketing, and finance.

For large, sophisticated teams, this means ensuring that all stakeholders have access to a centralized, consistent source of truth - internal and external data along with transparent analytics. For smaller, growing retailers, it might mean creating workflows that are intuitive for team members wearing multiple hats while providing insights near instantaneously. 

Technology plays a key role here. Tools that unify data and simplify communication empower teams to work smarter and more collaboratively, whether they’re operating from one office or managing multiple regions.

Bridging the Gap: Empowering Teams of All Sizes

One of the biggest challenges we see in the industry is the divide between highly sophisticated teams with GIS expertise and smaller, fast-growing brands whose real estate leaders manage multiple roles.

PiinPoint was built to bridge this gap. Our platform provides the insights and tools needed for advanced real estate planning while remaining accessible and intuitive for those without a GIS background. Whether you’re analyzing a single site or planning a multi-region expansion, PiinPoint makes it possible to act on data insights with confidence—regardless of your team’s size or technical expertise.

As we look toward 2025, our mission remains the same: to simplify the complex, empower data-driven decision-making, and help retailers and franchisors grow with confidence.

Looking Ahead: What Will Define Success in 2025?

The challenges of 2024 have shown us the importance of agility, data-driven decisions, and collaboration. But every new year brings new opportunities.

For 2025, we see the continued integration of advanced data analytics, the importance of hyperlocal market knowledge, and the rise of automation in streamlining real estate workflows — and doing all with transparency.

What do you think will define success in 2025? I’d love to hear your thoughts!