The rise of online shopping outlets such as Amazon and eBay has led to new investment in the retail sector, with large brands finding new and creative ways to market themselves and their products as a means to increasing footfall and driving conversion. The interests of the distinct generations is also playing a bigger role than ever, with millennials responding to connected marketing but demonstrating less brand loyalty than previous generations.
Now that the retail market is more competitive than ever, branches are no longer choosing to rely solely on the volume of customers through the door to calculate sales conversion. The products below can give you an enhanced knowledge of your consumer base and their interests to drive customer profiling and measure branch success. Use locational data to monitor the activity of these competing retail branches and assess their commercial prospects by their placement, taking a range of contextual factors into account.
It’s essential to know which location will allow your retail branch to best connect with the right demographics when planning a new retail branch. Gain a deeper understanding of the local population and their income in order to understand an area’s scope for sales and repeat business. Investigate how effectively customers can be drawn from beyond your branch’s geospatial segment or if your location is being challenged by competing retail outlets.
We can also provide tools to assist your organisation with locating your new warehouse based on crucial contextual data, and can assist with upscaling or downscaling, projecting the distribution costs or savings associated with changing the size of your service or retail presence.
Visualise your retail locations and warehouses by their profitability, cost, volume of stock moved and more, and examine geopolitical factors acting upon your branches to better understand the surrounding risks. Draw on these geographic insights to discover hotspots of low performance or places that are under resourced, and develop your omni-channel investment based on projected ROI.