Location analysis is the process to help evaluate the impact of location on the buying process. No single location is the same as another. It’s obvious but it’s surprising how often brands and retailers don’t account for this fact.
Store location 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.