When many retailers build predictive models to predict sales and overall performance of a store or business location, they spend a lot of time assessing demand, asking themselves a variety of questions:
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Topics: Retail Industry, Data Quality, Analytics Solution
In August, we wrote a blog about how market research has changed over time—and there’s no question that it’s quite a lot. But as the saying goes, “the more things change, the more they stay the same.” Technology and the evolution of the digital era have definitely made their mark on the retail industry—and retail research. But there are many things about retail research that were true 25+ years ago and remain true today. Here are a few of the most notable:
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Topics: Retail Data Analysis, Market Research, Retail Industry, Landlord Rep Brokers & Owners Industry, Tenant Rep Brokers & Developers Industry, Data Quality
Like many industries, the fate of retail was significantly altered when the World Wide Web was launched in 1991. Certainly, the retail industry has evolved for centuries prior…
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Topics: Retail Data Analysis, Market Research, Retail Industry, Data Quality
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.
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Topics: Improving Store Locations, Data Partner, Retail Industry, Restaurant Industry, Data Quality
If you’re in the business of retail development—whether you work in a retailer or other chain’s in-house real estate or research team or are a broker or developer trying to fill your shopping centers with solid, long-term tenants—it’s not enough to collect data. You want the best possible data that gives you accurate information upon which to make decisions.
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Topics: Retail Data Analysis, Demographic Data, Data Partner, Retail Industry, Data Quality
When your store or business experiences success, it’s a natural progression to start thinking about expanding into new areas and markets. As you make the decision to do so, remember: data is your friend. If you do solid research up front, you’ll be able to get a good idea of the traits of your very best customers, their needs and behaviors, and of course, helpful information about where to find more of them.
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Topics: Smart Retail Growth, Retail Industry, Retail Site Selection, Data Quality
