For retailers, investing in geospatial is essential for ensuring the company’s sustainability.
Retail’s digital transformation also requires an aggressive brick and mortar strategy. Decisions to expand require digital mobility data, consumer preferences, and locations with the most potential to grow loyal customers. Geospatial solutions can support your ability to integrate myriad data sources, create predictive sales models and anticipate the impact of new competitors.
GIS technology helps you to see data sometimes missed by using traditional business intelligence solutions. Identify trends that let you see when to move, remodel or close existing retail sites.
Know your customer. It’s absolutely essential in today’s highly competitive market where grabbing the attention of consumers in a world swirling with social media makes it difficult to promote your brand. Geospatial solutions enable you to discover new markets, accelerate conversion rates and improve foot traffic by enriching your analyses with geodemographic, socio-economic and consumer expenditure data. Find answers to the most important “where” questions: Where are my best customers? Where are the best locations? Where’s the best routes to my store?
Retailers need to understand how physical and digital channels compete and how they complement each other as well. Geospatial solutions enable retailers to analyze social media, online purchasing transactions, the success of loyalty programs, and in-store POS system data to determine the right balance of omnichannel options.
Deliver the right buying experience regardless of physical, digital or the mix of buying online – pickup in-store alternatives.
Consumer preferences and needs vary depending on where they live. Getting the right product to the right consumer at the right time and at the right place is critical for merchandizing and pricing strategy. Using geospatial technology will support your understanding of how to boost sales and maximize space allocation within your network of stores as you discover and target your preferred target market.
The profitability of supply chains depends on efficiently delivering goods by allocating the right resources at the right time and place. Geospatial solutions provide the tools to not only track shipments but also to design the most cost-effective routes while minimizing vehicle maintenance and reducing the carbon footprint. Identifying the right location for operations is critical as more logistics companies are moving network operations and distribution hubs closer to consumers.
A significant part of retail operations is the investment in real estate. Good locations are hard to find and the best locations always invite intense competition. That’s why geospatial solutions are necessary to quickly identify, value and select a portfolio of properties that will achieve growth objectives. As a result, your store network will see increased profitability, expanding trade areas and the retention of loyal customers. It will also help to identify less profitable locations and take the decision to move, remodel or close that site altogether.
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