Growing retailers look to expand into markets where concentrations of their target consumers live, work or shop. A consumer’s lifestyle and life stage often define their preferences and behavior, and few factors better determine one’s lifestyle than education level. For this study, we wanted understand which markets were seeing an increase in education levels. To measure this, we looked at the change in the percentage of persons over age 25 that had no bachelor’s or master’s degree in 2013 compared to 2018. We also controlled for increases in bachelor’s degrees at the expense of master’s degrees, e.g. markets where the percentage of bachelor’s degrees increased while the percent of master’s degrees decreased.
In Model Builder, one of the most popular tools within SiteSeer, users can create hotspots to narrow down hundreds or thousands of locations across a market to those that are likely to offer them the highest chance of securing a successful site. If you’re a broker or shopping center owner or developer, hotspots can supplement your own expertise with data that tells you if the retail or restaurant chain you’re working with is a good fit for your center or not.
Anyone in retail research knows that there are many factors that contribute to the success or failure of a site. The question, of course, is how do you replicate your winners and avoid opening locations that end up as losers? One of our most valuable tools within SiteSeer can help you do just that: the hotspot analysis tool.
Topics: hotspot analysis
If your town is large enough to have an economic development council, that council is probably tasked with analyzing your market in order to attract businesses and retailers to the community. To do this effectively, one of the very first steps you should take is to define your town’s trade area.
Topics: retail trade area
When a retail or service business chooses to expand their reach through franchising, acquisition or organic growth, a critical question that arises is, “How do we replicate our success?” The answer for most? Adopt a site selection process and use mapping and analysis software that will provide your company’s decision-makers with the facts they need to make educated site decisions.
In the early days of chain retail expansion, developers would choose sites convenient to where their customers live, work, and shop and hope that sales and profitability would follow.
If you’ve been reading this blog for any amount of time, you probably know this about the team here at SiteSeer:
Back in November, we assessed the top 16 fastest-growing large micropolitan areas in the United States. In case you need a refresher, a micropolitan area is defined by the Office of Management and Budget as a labor market area in the U.S. centered on a city with a population of at least 10,000 but fewer than 50,000 people. This is opposed to a metropolitan area, which has at least one city with a population of 50,000 or higher.
Topics: micropolitan areas
For several years, some of the most sophisticated, fastest-growing retailers and restaurant chains in the market have been using cutting-edge data analysis to discover actionable insights about their customers, brand, and competitors. Specifically, we’re talking about mobile behavioral data, which has the power to provide companies everywhere highly intelligent business insights.