New Store Opening: How Brands Use GIS Mapping for Strategic Growth
Retailers and restaurant chains play a constant game of Goldilocks and the Three Bears when hunting for the right site location to open a new store. One possible location may be in an area with a large enough population, but may be too close to a competitor. Another may be easily accessible, but not in an area with enough target consumers. So how do brands find just the right location to expand their business? This is where retailers and restaurant chains like Chick-Fil-A leverage GIS mapping software to help them make this decision.
Get Inside the Behaviors of Your CustomersNo matter how perfect a retail site location is, it means nothing if a retailer’s consumers don’t live or shop in that location. When choosing a new location, retailers first have to get inside the mind of their customers and understand what their needs, wants, and purchase habits are. Ask yourself these questions:
- Do your customers like to shop at other stores surrounding the site location you’re interested in?
- Do customers in that location need your products or services?
- Will customers travel to your location?