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.
Topics: Market Research, Retail Industry, Retail Site Selection, Site Selection Software, Restaurant Industry, Restaurant Site Selection, Competitive Analysis
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:
Topics: Retail Data Analysis, Market Research, Retail Industry, Landlord Rep Brokers & Owners Industry, Tenant Rep Brokers & Developers Industry, Data Quality
Growing retail and restaurant chains know that doing high-quality, data-driven research as they expand and open new locations is always worthwhile.
Topics: Market Research, Market Data, Retail Industry, Site Selection Software
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…
Topics: Retail Data Analysis, Market Research, Retail Industry, Data Quality
When you’re a growing retailer, it’s tempting to choose retail locations that are distant from one another to avoid negatively impacting your sister stores in the market. However, this strategy for analyzing retail sites can leave gaps in the market that put you at risk of a competitive entry or worse, leave dollars on the table when you could have had three stores in the market instead of two. The goal, then, is to plan a network that maximizes your market share without overly cannibalizing your own sales.
Topics: Sales Cannibalization, Market Research, Market Data, Retail Industry
Anyone who knows us personally here at SiteSeer knows that many of our team members have worked for, and with, the grocery industry for many years. So, when the news came out recently that Amazon was seeking to acquire Whole Foods, we were intrigued and surprised.
Topics: Market Research, Data Study, Bricks and Mortar Retail, Retail Industry
On the morning of November 8, 2016, pollsters seemed confident: Hillary Clinton would win the election for the next President of the United States. Of course, we all know what happened thereafter.
Topics: Market Research, Data Study, Retail Industry
