- This program analyzes purely the customer. Who is the ideal customer? How many exist in a particular trade area/city/state. How much money is being spent in a particular trade area (share of wallet)? Share of wallet measures spend and potential spend across a number of retail product lines.
- Plot existing customers in order to determine the trade area (reach of the store). The trade area can be defined by drive time or radius.
- Customer Segmentation is deployed. This refers to the geo-demographics (types of people i.e. Upper Class, Empty Nesters etc..)
- The client then understands who their customers are today, and more importantly, who their customers are tomorrow, and how many potential customers exist.
- This program analyzes purely the locations (bricks and mortar). Based on the market potential, competition, a strategic blueprint is created. As such the targeted areas can be sequenced.
- Market Optimization refers to the ideal number of locations that a market can sustain.
- The client will have a very efficient plan to deliver new locations. The strategic plan is sequenced in order to deliver the client the “biggest bang for their buck”.
- City Skylines is a combination of Retail Compass with Retail Builder in order to provide the client with a complete market picture.
- City Skylines refers to store capacity and market capacity. Store Capacity refers to the number of potential stores that can be open in a particular city while Market Capacity refers to the number of ideal customers in a city that best match up with a client’s customer profile base.
- The competitive landscape is also captured in order to frame market potential.
- The client gets a complete city study showing competition, potential new locations, as well as an assortment of geo-demographic maps, tables and charts.
- The franchise toolbox is designed as an “à la carte” offering to a franchisee, and to retailers that only have a few locations and need only a specific task. In short, the toolbox is a very affordable platform to gain access to higher-end analytics at an affordable price point.
Highest and Best Use
- The highest and best use are customized market studies that are deployed in an open field or perhaps a half-vacant mall. The key is to use a wide assortment of data in order to determine what the property’s best use for going forward.
- The Void Analysis Report will look in your market/trade areas to see which retailers are not in the area. The contact information for void retailers is also provided.
- We will use the retailer’s contact information to call and fill your empty space with a tenant that will fit your area.
Market Assessment Card (MAC)
- This is strictly used for clients that are looking to expand internationally. It is a 30,000 foot measure of store capacity/market capacity.