Brick and mortar retail has had winners and losers since the COVID pandemic began. Some brands have pivoted effectively, while others have struggled to navigate a world where lockdowns, social distancing, and non-essential retail are now commonplace.
In a new report, CARTO (a leading location analytics platform for retailers) looks into current site selection strategies and how location data can be used to help retailers adapt, survive, and thrive in a post pandemic world.
The report contains:
Case studies from across North America, outlining how retailers have adjusted their store network strategy in response to the global pandemic and ever changing consumer demands.
Details on how innovative location data streams can be leveraged to surface site expansion or consolidation opportunities.
Examples of how retailers have taken different approaches to drive expansion decisions and predict store performance in a given target territory.
Brands Looking To The Future
Retail has found itself in the eye of a perfect storm of social, economic, technological, and structural change that is transforming the very nature of the industry.
With case studies from Best Buy, Starbucks, Macy’s, Dollar General, 7-Eleven, Sephora, and more, explore how retailers are reformatting and relocating existing space along with efforts to digitize physical real estate.
Leveraging Location Data
Retailers have been using traditional data sets such as census data in their site selection strategies for many years. This may have served them well in the past but given the speed of change in consumer behavior, particularly within the last year due to the pandemic, it is critical that more modern and frequently updated spatial data streams are utilized.
Discover how data sets including information on credit card spend, human mobility patterns, weather, road traffic patterns, and social media sentiment can be used to drive brick and mortar site selection decisions.
Incorporating Advanced Spatial Analysis
Retailers are building a more informed strategy for their estate by incorporating Location Intelligence techniques and tools to make better decisions relating to site suitability, catchment audience, accessibility, and revenue potential.
Learn how to maintain a competitive advantage by integrating proprietary business rules, models, and data into problem solving and decision making processes.
Want to learn more about retail site selection for your business? Download the report here.