Retail Network Strategy
Helping businesses make informed store location decisions.
Site Location Analysis involves the study of a particular location and its probability of success for a specific retail business. Location criteria is unique to each business and a successful location depends upon knowing the most important trading features about your business and your customers. We identify and research the variables that determine what the real trading potential of a site is worth to your business.
Key Areas of Market research/analysis that provide valuable insight include:
- • Store Location Criteria
- • Customer Trade Studies For Existing Stores
- • Customer Demographic Profiling
- • Site Specific Market Assessment
- • Overall Store Network Strategies
- • Sales Forecasting
- • Sales Impact on Existing Stores
Early Investment in market research is a low-cost insurance policy.
Early investment in store location research clearly identifies what the trading potential really is for “site X”, or for an overall store network. A poor location choice brings costly liabilities. Store location research is not about making a selection from a list of real estate opportunities; it is about knowing your business and its site location needs and targeting the right locations based on this knowledge.
Some key questions often asked.
• If you are a new business or one with a limited store network, a key question is where are the best locations to ramp up the business?
• If you are a well-established business, key questions are where are the gaps in the network? And how much net sales benefit is actually achievable after cannibalism?
• How efficient is my existing store network? Strategic sites to keep vs. low value sites to rationalise?
• I’m a niche business with 3 outlets, and want to expand. Where are the best options for my type of business?
• I have businesses over two sites, but think only one is needed. Which site is best to keep? Or do I move somewhere else?
• Where and how much is the market growth?
Speer & Speer have been answering these questions and many more over the last 25 years with great success.
Many have benefitted from our market research - including:
• DIY hardware outlets
• Fast food restaurants
• Petrol convenience stores
• Small food shops
• Department stores
• Specialist retail activities
• Medical centres
• Dental centres
• Accident & emergency clinics
• Hearing centres
• Property investors/land owners
• Property developers
• Early childhood learning centres