Physical stores represent a major up-front investment for communication providers, so it is essential that the chosen site offers the optimum coverage and presence. Social and demographic factors, competitor activity and market saturation all have an impact on retail sales. In order to choose the best location you will need access to essential information.
How to Choose the Best Site for Your Retail Outlets:
- Customer and Competitor Data
Customer data is at your fingertips, but does it give you the value and insight that you need? Detailed information about local market dynamics, customer demographics and social groupings help to analyse specific site locations and their implications on your business.
- Location Analysis
Combine location analytics with customer and competitor data to easily map, view and overlay multiple data sets relating to a specific location. What is the impact of competitor stores? Would you cannibalise any other stores? What is the drive time for your customers?
- Communications Strategy
This deep rooted understanding of the local marketplace and your customers allows you to tailor local marketing campaigns utilising multi-channel communications and location based offerings.
Understanding local market dynamics and customer demographics will help you choose the best site for your retail outlets to ensure growth and profitability.