Location Analysis or Retail Site Selection
A location analysis or a retail site selection study evaluates the potential opportunity for a specific siteThis is applicable for retail stores investigating new locations, or shopping center developers interested in understanding the market opportunity a proposed site might offer.
Tailored to client needs, a location analysis would involve some of the following elements:
- Overview of the surrounding market and review of macro trends such as population and employment growth.
- Delineation of retail trade area boundaries for the site based on drive time analysis and other influencing factors such as topography, competition, and regional accessibility.
- Examination and benchmarking of trade area characteristics such as population and household change, and demographic characteristics such as age, income, and ethnicity.
- Review of key retail store or shopping center competition within the trade area, focusing on relative strengths and weaknesses against the proposed site.
- Forecast of sales potential for the site and estimation of market share capture for the retailer or shopping center.
- Final recommendation for the specific geographic location, taking all factors into account.
Decision Analyst’s strengths in statistics and mathematics, simulation, modeling, and optimization provide the analytical horsepower to address complex business and strategy problems. If you would like more information on our GeoAnalytic Research Services, please contact contact Jerry W. Thomas, President/CEO (firstname.lastname@example.org), or John Colias, Ph.D., Senior Vice President, Advanced Analytics (email@example.com), or call 1-800-ANALYSIS (262-5974) or 1-817-640-6166.