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The top 10 data sources for finding profitable retail locations.

Posted by Jacob Pescini on 15-Jul-2014 10:50:00

Why is good data so important?

To identify profitable retail locations, acquiring customer and target market data is essential. It is estimated that over 80% of collected data has a location component. However, this data has to be accurate and up-to-date in order to get the best results from Location Intelligence software.

You need to be careful when using data with a location component as common data quality issues can occur. For example, when a customer moves location this can trigger a duplicate customer record, instead of a modifying an existing customer record. Knowing that more than 49% of the New Zealand population had lived in a different dwelling as that at the time of the 2013 Census during prior five years, this is no trivial scenario.

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Topics: Retail Location Analysis, Retail Network Planning, Customer Segmentation

How Location Intelligence Can Improve Transit Advertising Measurement

Posted by Jacob Pescini on 10-Jul-2014 16:24:17

Location intelligence is now widely used to improve a variety of marketing and advertising activities. The tools and data now available enable decision makers to make evidence based decisions to improve their campaigns based on knowing who their target market is, where they live and work and how they spend their money.  While location intelligence has an impact in improving the effectiveness in traditional marketing and advertising it can also have a significant impact in improving the measurement of the 3% of spend on outdoor advertising (billboards, buses/transit, bus shelters etc).  

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Topics: Marketing, Spatial Analysis, Census, Location Intelligence, Customer Segmentation

How can consumer data be used to create market profiles?

Posted by Jacob Pescini on 25-Jun-2014 14:00:00

In such a competitive industry like retail, businesses need to put their customer and transaction data to work – to enhance decision support to gain competitive advantage. It is imperative a business understands the relationships between trade area demographics, customer profiles and competition for prime site selection and business growth. This information in-turn formulates the value of an area for a business’s products and services. With it retailers can generate more accurate site-specific sales forecasts and create a compelling customer acquisition strategy.

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Topics: Retail Location Analysis, Retail Network Planning, Location Intelligence, trade area profiling, Customer Segmentation

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Critchlow are Location Intelligence, Emergency Management and Business Continuity Management Specialists.

Partnering with world-class solution providers, we enable organisations to see, share and understand information so they make the best business and operational decisions.

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