Retail

With a 360º understanding of your customers describing their purchasing preferences and their characteristics as individuals, enables you to be as relevant as possible, when you present your offers

Your store locations differ and so do the people around them, so naturally your revenue on each item you sell differentiate. By understanding your stores' sales in relation to the segments in its catchment area, you get the foundation for adjusting your store concept, the selection of goods, and your marketing to match your customers' needs

Customer segments in the catchment area

Which customer segments live in the immediate area around your stores? Regardless if you define your catchment area on drive-time or distance, it is the customers who are geographically closest to your store who are most likely to enter it. Therefore, your knowledge about the catchment area is the perfect complement to your store’s transaction history as a foundation to optimise your store concept, product offerings, and marketing initiatives

Determine the catchment area based on the actual drive-time

The drive-time is the customer’s real transportation time to and from your store. We can calculate this based on both rush hour traffic and normal traffic, so that the determination of your catchment area becomes far more precise than a simple choice of distance, which does not take into consideration the infrastructure

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Deciding the location for your next store is about more than just square meters and the crowdedness of the roads near the store

Customer base

Do the customers who live in the catchment area look similar to the customers living in your best performing catchment areas? An analysis on which locations contain the most ‘twins’ to your existing high-performing customers in your current catchment area, will give you the best basis for estimating your new store’s customer base

Competitors

No matter your customer base, the insights into which competitors are near your new potential store is critical to your business’ potential. Therefore, it is important to map your direct competitors, but also the competitors whose product offerings are partially overlapping yours. Are you selling convenience goods, then it is also relevant to map the different convenience suppliers in your area (and vice versa)

Access opportunities and the size of the catchment area

Are your customers arriving by car, on bicycle, or by public transport? The access opportunities in your new store should match the opportunities of your best performing stores. Map the infrastructure surrounding the store locations you  consider, and get an insight into how large or small your catchment area is, and thereby, get an insight into your customer base

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