Site Selection Information
- Site Selection Overview
- Sites That Deliver Customers
- Rank Potential Site Locations
- Optimize Your Store Network
Of Special Interest
Related Topics
Resources
Rank Potential Site Locations
There may be many potential locations for opening a new store or branch. How do you pick the right one, or the top three, or however many you need to open?
Mapping Analytics will help you find the answers. Our modeling techniques result in a store trade area profile and scores for each potential location. You'll know how any proposed location compares to an ideal store profile. The store location score takes into account expected sales, market penetration, cannibalization, competitor influence, and other factors.
Key Benefits to Ranking Store Locations
- Speed to market by knowing where to go first
- Better allocation of your resources in the retail market
- Faster return on investment by focusing on the most profitable retail locations first
- Forecast demand and sales more accurately
Sales Forecasting for Store Locations
The key metric in deciding where to open a new store location is its sales potential. Mapping Analytics uses customer profiles, demographic data, and trade area analsysis to forecast demand and sales potential of proposed locations. So you'll always be confident in the locations you choose.
We've done this analysis successfully for others
To safely move forward on a new branch location suggested by a board member, an $8 billion bank asked Mapping Analytics to model the expected performance. The model revealed the location offered ample deposit potential.
However, an unconsidered site located only 3 minutes away offered 40% more deposit potential, caused less cannibalization on other branches, and carried a total net deposit increase $14 million higher than the original location being tested.
Isn't that the kind of result you're looking for?
Next Step
Store Location Analysis
Rank existing stores to help discover attractive locations for new stores.
View map
Map shows how sales potential for a store decreases with distance. View map
Site Selection Resources
"Ten Questions Answered About Retail Site Selection. Read now
"The Intelligent Approach to Retail Site Selection in a Challenging Economy" Download
2-page brief provides an overview of Mapping Analytics' approach to retail, restaurant and franchise site selection. Download