Selecting the right retail location for your business is critical to the success of your retail store, brand and network.
IPS Consultants have developed their own unique network planning tools to deliver detailed insight into customer potential for any given location.
These insights are complemented by those gained through network planning: identifying the risk and success factors inherent to a particular business, including its competitors.
We begin by geo-mapping existing or potential sites, capturing a wealth of detail such as customer sales data and addresses, number of visits, floor area, site configuration, parking, lighting and ambience, signage, pedestrian counts and traffic flow. Then we build up a picture of competitors and how their businesses compare.
This data is analysed to develop Success Measures: benchmarks which can be used to meaningfully compare the success of one site against another. (Simple examples of Success Measures are for a café the ratio of dollars spent per customer and for a retail mall store turnover per square metre compared to industry average.) These benchmarks enable us to identify any factors preventing a store or site under consideration from achieving its potential.
Demographic analysis and network planning can be done for individual stores, or sites of interest, or for entire store networks.
Contact us now to arrange an obligation free demonstration and discuss your network planning needs.