Trade Area Information
Related Analysis
Resources
Why Perform Trade Area Analysis
Proper trade area definitions are needed to accurately select retail store or branch locations. They also provide a valuable input into targeted marketing campaigns. Without proper trade area definition, the key statistics that impact a store's performance cannot be properly measured.
Trade area analysis gives you two key pieces of intelligence to help better deploy sales and marketing resources:
1. The boundary of the trade area
- What does the trade area of a store bump up against?
- Does it intersect with trade areas from other stores in your network, causing cannibalization between stores or a situation where you have too many stores in an area?
- Is it a lonely boundary out there on its own, showing that you might be missing part of the market?
2. What's inside the trade area
- How many customers do you have in the trade area?
- What is the market potential of the trade area (total potential customers)? What percent of market potential are you capturing (penetration)?
- If you are a business-to-business company, how many target businesses are in the trade area?
- If you are a business-to-consumer company, what is the demographic profile of the trade area? The profile of your customers?
- What are the characteristics of the trade areas around your most profitable store locations?
The ability to answer these questions will help you make decisions to perform better in the market. The results of trade area analysis are essential to making informed retail site selection and targeted marketing decisions.
Trade Area Analysis Services
Trade area analysis is a primary analytic service performed by Mapping Analytics. We have the people, experience, tools, and data required to perform sophisticated multi-site and multi-region trade area analyses.
Contact us for more information on trade area analysis.
Trade Area Analysis
Trade area definition for a proposed bank location. View map
Graph showing % of customers within various driving times from a store.
View chart.
Multiple drive times around store locations. View map.