Understanding the relationships between trade-area demographics, customer profiles and competition is essential for prime site selection and business growth. These insights allow you to make better-informed decisions faster and easier.
In such a competitive industry, Retailers need to maximise the potential of data and insight to gain competitive advantage and enhance profitability
How to Optimise Store Locations:
- Data Management
Integrating customer data with demographics and competitive data allows you to understand the potential value of an area and site, in addition to building a profile for the competitive landscape and developing a customer acquisition strategy.
- Location Intelligence
Through enhanced insight and location intelligence, you can visualise store location, competitor sites and overlay maps with data layers to display demographics. From this intelligence, business investment decisions can be made quicker, with more accuracy. Site-specific sales forecasts can be built to predict the impact on revenue after opening.
- Market Strategy
Through the combination of data and location intelligence you can identify, analyse and rank sites for expansion, or withdrawal whilst mitigating cannibalisation between stores