Avoid cannibalizing existing sales among store locations with ‘similar consumer’ densities
Female Clothing Retailer Braddock Pty Ltd wants to open a new store at an investment of $2.5 million. They have three potential store locations that meet ‘like customer’ densities but would like to ensure they do not cannibalize sales at existing stores.
AFFIXCON tracked identified individuals’ attendance at Braddock stores and their home addresses creating a store catchment area analysis around stores near the potential new store and identifying one final candidate.
Location -: Target consumers who have attended Braddock stores in the last 12 months.
Demographic -: Consumers aged 25 – 65 years | Female | Family | Living in own Home | Income in top 50% of Australian Profile
App Use -: Relevant Clothing Code app user
Economic Resources Rank –: Top 40
Store Catchment Analysis proceed using above data attributes identified 82K unique individuals’ attendance at Braddock stores from the AFFIXCON Consumers Database. By using their home addresses, the potential new store consumers were able to identify.
What is Catchment analysis?
Catchment analysis is the process of looking at the areas around your store locations that could bring in customers. Catchment areas are the areas around your business where customers come from. They help you figure out how customers behave and how many people walk by. In catchment analysis, you look at the areas around your stores to see how well they do there.
The goal of a catchment analysis is to get a clear picture of where and who your customers are. With demographic information like home addresses, ages, incomes, levels of education, and more, you can get a good idea of who your main audience is, which will help you serve them better and target new areas.
Catchment analysis will show you how your store locations cover the area and show you where there are gaps or overlaps. You can use this information to decide where to open new stores, where to close existing stores that aren’t doing well, and where to expand stores to better serve the most successful trade areas.
AFFIXCON has developed proven techniques to retrieve results on the above-mentioned audience insight identification concepts. We are looking forward to collaborating with you as channel partners to share our techniques with the community. Are you interested in learning more about how we can more efficiently identify your client’s audience insights?