Customer analysis and demographic analysis are essential to choosing the best retail store locations. You won't want to make decisions without knowing the profile of your best customers and the demographics of the area you are considering for store network expansion.
Fortunately, Mapping Analytics is staffed with experts who can help you understand your customers and any geographic area where you may want to open a store.
We should re-phrase that: Where are there more customers like your best customers?
Reality is, not all your customers are ideal.
Mapping Analytics will help you find more of these customers with our site selection services.
We build customer profiles based on past purchase behavior, demographics, lifestyle segmentation systems, and other market data to give you an accurate sense of who your best customers are.
Once you know what your best customers look like, where do you find more of them?
You find more ideal customers in geographic areas where the demographic profile of the neighborhood populations closely match the profile of your best customers.
A customer profile is a key input into understanding market potential. Market potential is a numerical answer. Mapping Analytics calculates market potential for any area using estimated market penetration and expected volume of sales. We use both a customer profile analysis and market potential analysis, including trade area definition, to make site selection recommendations.
For the mathematically inclined, think of it this way:
(customer profile + market potential + trade area definition)
= outstanding site selection
Don't like math? Contact us and we'll help you find the right answers.
Market potential by block group around a proposed bank branch location.
"Ten Questions Answered About Retail Site Selection. Read now
"The Intelligent Approach to Retail Site Selection in a Challenging Economy" Download
2-page brief provides an overview of Mapping Analytics' approach to retail, restaurant and franchise site selection. Download
Mapping Analytics takes an open-minded approach to solving your business challenge. We will assess your needs and provide the right set of software and data for you or we will put our team of expert analysts on the job to help you achieve your goals.
Sometimes we do both. Analytical services to perform the heavy lifting and tools to keep you up and running on your own.
Which path is right for you? Contact us and let's start talking.