Retailers Tapping Software To Choose Best Locations For New Stores

A Donuts store on the main street of Woburn’s relocated within less than 100 yards- from one end of a strip mall to another-and surprisingly sales record of the store soared to 50 percent.
Retailers Tapping SoftwareThe reason that the shop experienced a hike in sale is very simple because this has been able to draw attention of many coffee drinkers after relocation. However, the storeowners have planned the move being guided by software that averaged data on competition, demographics and traffic and this lead Dunkin to experience the latest success.

Vice president of Dunkin Brand commented that the application informed them about the demography of the place that has changed a lot within a few years. Here people now prefer having a cup of coffee in nearby coffee parlor. As they are getting a cup of tasty coffee at place closer to their residents, likely the number of customer is increasing.

From then on, software program that help in identifying new location is getting popular among the retail industry owners. At Dunkins, the software is so popular among the professionals that they stay attached to iPad always to access it anytime from anywhere.

This latest program has simply revolutionized the process of scouting by reducing the time, required to search the location, dramatically. Earlier retailers need to collect information from different sources to understand the demography of a place. Sometimes, they had to stand on the road to count how many cars are passing by the road in an hour. They are now thankful to the software that has simplified the entire process of location mapping.

A retailer who already has shops in five different locations can’t find out the 6th one so easily as he doesn’t have much time to part. Especially when they have to deal with companies like Dunkin, which is already operating in 7000 locations, retailers need to be more dedicated.

Owner of the retail shop commented that he collects data and report on performance of other running shops of the locality, using the software. Using the software retailers now even can calculate brand awareness among the people that all proves important to find out the exact location for a new shop.

Users of the software can complete customer survey taking advantage of the software. However, sometimes they need to buy information from other organizations like Nielsen, STI etc as well. All these companies provide useful information on residence, income level, life stage and other business related issues. The retailers though found using the above-mentioned software more worthy because it can provide information on sales volume of a location, along with other information.

Esri, another leading company that provide services on location analytics and digital mapping, is also popular among the retailers because the software they use can comply data from 100 sources for the 7000 Dunkin variables and the provided information can be tailored for individual companies.

Retailers however need to invest a bit more to avail the services but they are satisfied with the ultimate result it gives. They would like to use many such advanced software in future for more detailed location analysis, commented an owner of a woman-clothing boutique.

 

Leave a Reply