How Location Intelligence Contributes to establishing the Store Footprint
– An ST Group Retail Series
There are different uses of “store footprint” in Location Intelligence; the particular location of the store (physical footprint e.g. in a mall); the distance from other company stores; the distance from anchor tenants with which there is a symbiotic relationship; the distance from stores with similar competitive products; the nature of the real estate; the physical size, shape and number of floors; and the storefront size (the length and height of the storefront of the store). The area from which the store’s customers visit (also the store’s footprint) is derived from internal customer and survey data that have been geocoded (placed on a map). The locations of all the other stores are similarly geocoded. Spatially representing these on a map produces insights into mutual cannibalisation of company stores and the possibility of competitive impact on performance.
Get in touch with us to hear how the ST Group can help you to assemble the software and external data products that help to develop these Store Footprints.Lets Chat