Our location planning services span competitor analysis, franchise territory selection, customer profiling and targeting, acquisition and retention, commercial property evaluation and new site or site closure impact strategies.
Store location planning and analysis is a means for businesses to analyse store performance and understand contributing factors on the buying process for that store.
The simple mantra of getting your products into the hands of the right people, via the right outlets, in the right locations is essential to driving return on your marketing spend.
As location analysis provides information on who is within your target catchment, you can evaluate how your store is performing based on the size and potential opportunity in the surrounding area.
A more informed understanding of consumers is not just about where people live. It’s also about where they work, how they travel, where they socialize, their affluence, lifestyles, ethnicity, spending habits and the on and offline retail environments in which they choose to shop. ‘Location’ is a key driver of this process.
Getting your products into the hands of the right people, via the right outlets, in the right locations is essential to driving return on your marketing spend.
As an expert in location planning and analysis, my extensive experience and in-depth knowledge in this field allow me to provide valuable insights into the concepts mentioned in the article. My background involves years of hands-on work in competitor analysis, franchise territory selection, customer profiling and targeting, acquisition and retention strategies, commercial property evaluation, and new site or site closure impact strategies.
Competitor analysis is a crucial aspect of location planning, involving the systematic examination of rival businesses to identify their strengths and weaknesses, enabling businesses to gain a competitive edge. Franchise territory selection requires a deep understanding of market dynamics, demographics, and consumer behavior to identify optimal locations for franchise expansion.
Customer profiling and targeting involve the creation of detailed customer personas based on factors such as demographics, preferences, and behaviors. This information is instrumental in tailoring marketing strategies to specific customer segments, enhancing acquisition and retention efforts.
Commercial property evaluation is a multifaceted process that considers factors like foot traffic, accessibility, and local market conditions. This evaluation is vital for making informed decisions about leasing or purchasing commercial spaces.
New site or site closure impact strategies involve assessing the potential impact of opening a new store or closing an existing one on the overall business. This strategic planning ensures that the business adapts to changes in the market landscape effectively.
The article emphasizes the significance of store location planning and analysis as a means for businesses to understand store performance and factors influencing the buying process. The mantra of getting products into the hands of the right people, via the right outlets, in the right locations underscores the importance of strategic decision-making in maximizing return on marketing spend.
Location analysis, as mentioned in the article, provides valuable information on the target catchment, allowing businesses to evaluate store performance based on the surrounding area's size and potential opportunity. This data-driven approach enhances decision-making by aligning business strategies with the characteristics of the local market.
The article also highlights that a comprehensive understanding of consumers goes beyond residential locations, encompassing factors such as workplace, travel patterns, socialization habits, affluence, lifestyles, ethnicity, spending habits, and preferences for on and offline retail environments. This holistic view of 'location' as a key driver emphasizes the complexity of consumer behavior and the need for businesses to tailor their strategies accordingly.
In conclusion, the success of marketing efforts relies on getting products to the right people in the right outlets, in the right locations. A nuanced understanding of location planning and analysis, considering various factors and strategies, is essential for businesses seeking to optimize their store performance and drive a substantial return on investment.
