Understanding the consumers who will most affect your physical outlet’s performance is critical in assessing a locations success. If a trade area is fundamentally deficient of both residential and working consumers whom fit the ‘target’ profile of your best consumers it is likely to struggle to succeed. Knowledge of an areas trading potential are important inputs into any sales strategy and marketing activity. Experian’s market leading data assets and extensive experience analyzing retail networks enables your organization to uncover critical insights on trade areas and any geographical competitive affects that could impact your outlets performance.
It is safe to assume that your successful physical outlets are a result of knowledgeable location selection and understanding of the competitive environment around these locations. But, what to do when the more obviously better locations are already taken? How many outlets should you have and where should they be? Experian has accrued many years of experience, both locally and globally, assisting retailers build their optimal network of outlets. Our library of complex spatial and statistical models can be applied to your outlets and customers to make sure your next location decision is the right one for your business.
How much of what product do we need? How many service people will I need? What products should I design an offer for to have maximum impact on sales? Will we have enough sales staff? Experian can provide the necessary information you need in order to best answer these questions and more. Our combination of analytical expertise and unparalleled data assets enables Experian to build accurate demand forecasts for your business. These forecasts can be built and applied in many ways, including powerful geographical applications which can be invaluable for those with physical outlets.
More effective site selection
Identification of profitability drivers
Better alignment between retail/branch services, products and consumers
More accurate estimates of store turnover
Improved understanding of competitor impact