There may be many potential locations for opening a new store or branch. How do you pick the right one, or the top three, or however many you need to open?
Mapping Analytics will help you find the answers. Our modeling techniques result in a store trade area profile and scores for each potential location. You'll know how any proposed location compares to an ideal store profile. The store location score takes into account expected sales, market penetration, cannibalization, competitor influence, and other factors.
The key metric in deciding where to open a new store location is its sales potential. Mapping Analytics uses customer profiles, demographic data, and trade area analsysis to forecast demand and sales potential of proposed locations. So you'll always be confident in the locations you choose.
To safely move forward on a new branch location suggested by a board member, an $8 billion bank asked Mapping Analytics to model the expected performance. The model revealed the location offered ample deposit potential.
However, an unconsidered site located only 3 minutes away offered 40% more deposit potential, caused less cannibalization on other branches, and carried a total net deposit increase $14 million higher than the original location being tested.
Isn't that the kind of result you're looking for?
Rank existing stores to help discover attractive locations for new stores.
Map shows how sales potential for a store decreases with distance. View map
"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