It’s an interesting time to be alive, that’s for certain!
Population growth is often a factor that service businesses and retailers look for when choosing locations. And while many are drawn to the large cities, smaller cities can offer just as much potential. That’s why in late 2017, we shared the top 16 fast-growing large micropolitan areas in the United States. And over two years later, it’s time for an update.
If you’re at all connected to the grocery business, you’ve probably seen the headlines about natural and organic grocery chains closing their stores:
There are times that it makes good sense for a chain business to expand, and there are times it makes sense for that chain business to expand in a different way than they have in the past (to better reach customers).
It’s that time of year when those of us in the business of retail real estate research are looking backward at the year prior. What retail categories grew? Which ones shrank? SiteSeer’s data partner, ChainXY, provides insights into over 4,500 chains in the United States and Canada. We dug into their three broad areas (retail, restaurant and services) to collect a snapshot of how chains that existed on January 1, 2019, grew or shrunk over the year.
Step #3 in our Site Selection Checklist for making smart site selection decisions is study your competition.
Too often, we see companies do lots of homework on their customers and trade area and launch right into an expansion plan. Understanding your customer is indeed vital to your success as you grow. But there’s another side of the equation that is extremely important: understanding who you’re going up against.
When you use a tool like SiteSeer, there are all kinds of different data types that can power the platform:
Attention retailers/restaurateurs/operators and executives of other chain businesses: have you ever received an email like this before:
When you’re in the business of leasing space or developing shopping centers, there’s one issue that probably matters to you more than just about any other: how can you find the best tenants to fill your space?