The story on how a major FMCG player created the perfect retail ecosystem across 50 countries to release its new product!
Our client wanted to roll out a new global product line with the aim of maximizing market penetration, customer reach and sales conversion. Their strategy was to target a mix of retail stores and points of sale but they were still left with the question of where best to sell their product. Thanks to our technology we were able to help them answer this question and execute their strategy.
Because their product line was new, they designed an approach whereby flagship stores would showcase their new product for prospective clients in order to educate them and smaller shops would take on the role of supplying their product to new clients.
These flagship stores needed to be set up in locations that were already known as “retail hotspots”.
Given that the flagship stores and smaller shops have fundamentally different functions, their physical locations had to be selected based on very specific and accurate criteria to make sure they could reach their objective in the most efficient way possible.
When it came to their network of flagship stores our client envisioned creating a unique in-store experience with their prospective customers in mind, prioritising fabulous locations. They needed to find locations where the footfall traffic was made up of an equal mix of wandering tourists and locals, avoiding commuters and heavy car traffic. It was also important that the footfall traffic was made up primarily of young adults and that the stores were surrounded by a heavy concentration of businesses including bars, restaurants, night clubs, and carefully selected retail brands.
Smaller stores and shops within shops, on the other hand, would have to be located in places where the foot traffic was made up of commuters running errands on their way home from work etc. The main objective here would be to display their product in mass traffic areas to maximise their sales.
Before our client started working with us, they would assess a list of potential real estate locations in the hope of finding a few that could potentially become smaller shops and flagship stores.
With the objective of opening up to 100 locations per year throughout the world, this process was far from ideal and induced a substantial risk. This is when we met them.
When data comes into play
At Symaps we created a way to leverage billions of data points to enable retailers to make the best data-backed decisions when it comes to worldwide network expansion.
With our proprietary software, our client was able to completely transform the way it used to work: by singling out the best locations for each of the objectives set.
The real estate teams were able to proactively list specific locations to target rather than filtering them from a made up list.
Thanks to our proprietary technology, our client was able to know the traffic of prospective locations through location intelligence.
By utilizing dynamic map visualizations, our client was able to map out traffic patterns, demographic data, competitive pressures, the presence of synergetic brands, and other geographic data to better inform site selection, building their ecosystem by weeding out locations that wouldn’t see a high volume of foot traffic and honing in on one meeting more objectives.
location intelligence gave them the confidence
In short, our location intelligence gave them the confidence when selecting the most optimal site for their strategy, something that is crucial to its success as brick-and-mortar stores struggle to recover from the pandemic.
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.
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