Today’s retail landscape has shifted the power dynamic between shoppers and the stores they frequent. Rather than make do with the selection at the nearest department store, shoppers today can be more discerning, seeking out the products they want via a number of different physical and digital channels.
That isn’t to say that consumers are no longer receptive to shopping in-person. Despite recent headlines touting the demise of brands that once anchored entire commercial districts, brick-and-mortar retail can still thrive when retailers target their desired customer base strategically.
Putting it simply, it’s no longer a matter of “if you build it, they will come” in today’s retail marketplace, but rather, “build it where they already are” – either physically or in their mind-space.
Visit Pitney Bowes at ICSC RECon
At ICSC RECon 2017, Pitney Bowes will be on hand to explain how retailers can leverage data from a bevy sources to intelligently reach the customers they seek. We work with leading retail and restaurant chains to help them optimize not just their physical unit network, but also, where relevant, their e-commerce and mobile channels. The same success strategies used by these brands can be applied to retailers big and small to help grow their footprint while improving their bottom line.
Using customer data, retailers can identify and target the most profitable customer base and implement the appropriate channel distribution strategies for optimal return on investment. Location intelligence drives this approach, as geo-spatial data can be used to optimize retail site selection to maximize store profitability while minimizing potential cannibalization.
How Location Intelligence Helps
These capabilities aren’t just in the service of retail expansion. Location intelligence can provide retailers actionable insights that they can use to assess and exploit untapped opportunity and demand in existing locations. In addition, they can be applied for optimizing overall market penetration through the right mix of a (possibly reduced) physical footprint in combination with the e-commerce channel.
To learn more, set up a meeting with our location intelligence expert Gary Faitler during ICSC RECon 2017 in Las Vegas, May 21-24, to discuss the retail strategies used by industry leaders to leverage consumer data for commercial success.