We all know by now that the year 2020 was challenging for many businesses for a variety of reasons. With many states laying out restrictions, some businesses were thrust into e-commerce on zero notice, while other businesses were forced to think outside the box on how to reach their customers in new ways.
When Monarch Alternative Capital acquired Shopko Optical in May 2019, it became critical for the real estate team to have a powerful, easy-to-use site selection and analysis platform that would help the company continue to grow after opening 80 standalone locations.
“We needed an analytics tool to help us with mapping, evaluating real estate, and assessing trade areas,” says Donna Capichano, chief development officer at Shopko Optical. “The tool we were using previously was expensive and produced inaccurate results. It was time for something better.”
Two months into our global shutdown due to the coronavirus pandemic and one thing is pretty clear: there are some businesses that are inherently built to withstand a crisis like this one. One such industry: grocery.
Our business is helping companies turn data into insights. And we can’t help but wonder: what does the data show when it comes to where coronavirus is most prevalent?
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).
We’ve talked before on this blog about the general impression that brick-and-mortar retail is dying a slow death and why that simply isn’t true.
Last month on the blog, we talked about capital planning that focuses on improving the stores and locations already in your portfolio to ensure they each fulfill their potential. If your capital plans include opening new stores as well, you want to ensure you are making decisions that maximize your returns.
Many businesses trying to grow the smart way recognize that capital planning involves an analysis of both short- and long-term needs and goals before they decide where their dollars are best spent. Regardless of how you plan your budget, your goal, of course, is to boost revenue. The question is: what capital expenditures are most likely to make that happen?