Location Intelligence: How To Find Future-Proofed Retail Locations
As you know, choosing your next retail location is a big decision, and the cost of one bad store can be crippling. Site selection has a knock-on effect in every other area of your business: supply chain, employees, tax structure, cost of goods, and ultimately, the growth of your brand.
Thanks to the web, location intelligence has become an accessible resource for business owners. Trying to interpret the data without experience and appropriate context, well, that’s another set of issues altogether.
If you’re looking to expand, a data-informed strategy has to be a top priority – and this is our bread and butter.
Whether you have one store or fifty, location intelligence is always useful. Through numerous datasets powered by GapMaps, we can analyse:
- Your existing network, to create a benchmark for future stores by determining the exact characteristics that have proven to be successful;
- Competitors, saturation levels, and gaps in the market;
- Valuable demographic and psychographic customer insights;
- Trade data & the supply and demand factors of an area;
- Cannibalisation of existing stores.
Once we’ve mapped out the data, our strategy takes shape with our unique CRM tool, Hawkeye, which was created by our team to provide retailers with a full view of their property strategy in action.
Bringing together all of the available commercial real estate information in the Australian market, Hawkeye allows us to review your existing store network, and make important, data-backed decisions about the path forward – with all of the agents and execs at our fingertips.
We then get to work: negotiating leases, lease renewals, store closures, securing new stores and providing smooth transitions into them, as well as all of the admin that comes with the process.
While we document, implement, and execute your strategy, Hawkeye provides an automated flow of information to all stakeholders. At BDC, we love transparency – that’s why you have full access to the system at all times.
We are the number one retail property group in Australia for a reason. Data allows us to eliminate risk, and bring business owners confidence in scaling their business.