What if it where made easy by data?
The topic of this article is undoubtedly at the source of many an expansion managers’ trials and tribulations: how to accurately decide on the best location for the opening of a new shop.
In and of itself expansion is great news: your company is in great shape and wants to expand its network of shops. What more could you want?
Let’s face it, behind this great news lies an even greater challenge. A challenge that lies at the very root of business itself: where to locate this shop in order to ensure that it will be frequented by clients.
The rise of e-commerce has made this challenge even more acute. To put it simply, it has enabled customers to become lazy: they would much rather prefer to shop online than in person, especially if the shop is out of the way, or difficult to access.
With the explosion of e-commerce, deciding on a location has become even more challenging.
We also believe that the rise of e-commerce and that of the subsequent widespread use of data to better target the client has shed light on a stumbling block within the physical retail industry: although companies understand who their target market is perfectly (and ever more thanks to data in e-commerce), translating this data and using it to target customers in the physical world has proven itself to be challenging.
In short, when you know that you sell a product bought specifically by millennials and foreigners, how do you know where to look on a map to find your next location? Especially when location can be down to the meter?
Introducing the Global location Finder
At symaps we decided to leverage and contextualize data and empower retailers with it. With the Global Location Finder (GLF), our users are able to rank and score international expansion opportunities based on multiple datasets.
The more data you have the more accurate the analysis is. Combining more data sets leads to greater success.
Based on data such as demographics, footfall, competition, site attributes, local amenities, and your historical performance data, the GLF will give the expansion team the best understanding of location opportunities, down to the meter.
What if finding your next location was as easy as customising your Five Guy’s hot dog?
We even take it a step further by enabling you to add footfall traffic analysis to the mix.
What you end up with is a selection of the locations that are best suited to your business, fed by your criteria and with a deep analysis of its DNA.
Looking for your next shop location? Don’t hesitate to contact us, we’ll help you zero in on your next location based on the business criteria that are relevant to you!
Symaps is an AI-powered location intelligence platform that helps you find the best locations for your business.
Our platform is built for emerging and established brands & retailers looking to scale their business or optimize their existing locations. With a strong focus on retail, FMCG, and real estate, Symaps combines the power of Machine Learning & AI and acts as the backbone for companies for whom location matters when it comes to making key strategic decisions.
Our team of experienced data scientists gathers, processes, and models large volumes of raw multidimensional data (public and private) to distill it into actionable, easy to use, and visually appealing map based insights.
Our proprietary machine-learning algorithm actively learns what drives your business success and offers advanced data capabilities and predictive technology to empower a company of any size to perform in-depth market research and gain strategic insights in a matter of minutes.
Visit our website to discover more business cases.