How a Leading Retail Brand Used Unacast’s Location Data Insights to Optimize Brick and Mortar Strategy

245 5th Ave,
Favorite

Overview

  • Updated On:
  • January 12, 2023

Description

Unacast provides the industry’s most accurate location data, with our foot traffic data showing a historical correlation of .93 with ground truth data. Hundreds of retail brands trust Unacast due to our rigorous focus on methodology and high level of transparency with our clients. Unacast helps retailers around the world with things like site selection, competitive intelligence, and making data-informed decision.

In this case study, we share how a national retail brand used location data insights from Unacast to make informed decisions on optimizing its brick and mortar strategy.

The Challenge

A nation-wide retail brand faced the challenge of expanding into new markets after announcing plans for aggressive growth. Its strategy involved entering new markets, expanding distribution with additional facilities, and introducing new product offerings. In order to execute on this plan, the retailer needed to reevaluate the locations of its stores in accordance with depleting or growing populations, and find opportunistic gaps in the marketplace. To address this challenge, the brand used location data insights from Unacast to make informed decisions on how to optimize its store mix. The retailer evaluated the locations of its stores based on Unacast’s migration trends, foot traffic patterns, and demographic data. By augmenting its market analysis with Unacast data, our client was able to identify new areas of growth, benchmark competitors’ visitation and foot traffic, and find gaps in the marketplace.

Identifying areas of growth

To identify areas of growth, the retailer used Unacast’s migration pattern data at the census tract level to assess growth by month. This unveiled where there were gains or losses in both population and income down to a detailed level. By focusing on areas with growing populations and with its target, above-average income levels, the brand was able to identify likely locations for new stores. For example, a specific census tract in the west showed both population and income growth, with each new person coming in averaging about $14,000 more than the local median income. This information was useful for the retailer to consider when deciding on store locations and product assortments for the county.

Benchmarking competitors’ visitation and foot traffic

The retailer used Unacast’s footfall data as a proxy to measure their market share and regional dominance over the trailing 12 months. This helped the brand inform its decision-making around where to position new stores and gain some of its competitors’ market share. By studying peak visitation metrics and cross-visitation patterns around competitors’ stores, the retailer gained detailed competitive intel that helped in making decisions on size and location of new sites. Digging a little deeper, the retailer was able to augment its knowledge of the market-leading competitor’s store’s concepts and assortment, and created an optimally suited in-store experience for the new location’s local shoppers.

Finding gaps in the marketplace

The retailer looked at the distance traveled by visitors to a competitor’s store (known as catchment area) that was previously identified as having the highest rate of visitation among local competitors. While almost two-thirds of the visitors came from within 6 miles of the store, we also found that about one-third traveled greater than 6 miles. This presented an opportunity for our client to locate a store a little closer to the visitors coming from more than 6 miles away.

Address: 245 5th Ave
Zip: 10016
Country: United States
Open In Google Maps
Case Id : 41766
Technology: Unacast
Name of the Retailer I Brand where the solution is installed: Benchmarking
Name of the solution / product: Unacast’s Location Data Insights
Retailer or Brand Website: https://www.unacast.com/
For customers or employees (front- or backend): Customers
Hardware, software or service: Software
Live since: 2022
Description of the project goal / motivation [max. 500 characters]: A nation-wide retail brand faced the challenge of expanding into new markets after announcing plans for aggressive growth. Its strategy involved entering new markets, expanding distribution with additional facilities, and introducing new product offerings. In order to execute on this plan, the retailer needed to reevaluate the locations of its stores in accordance with depleting or growing populations, and find opportunistic gaps in the marketplace. To address this challenge, the brand used location data insights from Unacast to make informed decisions on how to optimize its store mix
Project scope / implementation activities [max. 500 characters]: The retailer used Unacast’s footfall data as a proxy to measure their market share and regional dominance over the trailing 12 months. This helped the brand inform its decision-making around where to position new stores and gain some of its competitors’ market share. By studying peak visitation metrics and cross-visitation patterns around competitors’ stores, the retailer gained detailed competitive intel that helped in making decisions on size and location of new sites. Digging a little deeper, the retailer was able to augment its knowledge of the market-leading competitor’s store’s concepts and assortment, and created an optimally suited in-store experience for the new location’s local shoppers.
Innovation [max. 500 characters]: The retailer evaluated the locations of its stores based on Unacast’s migration trends, foot traffic patterns, and demographic data. By augmenting its market analysis with Unacast data, our client was able to identify new areas of growth, benchmark competitors’ visitation and foot traffic, and find gaps in the marketplace. To identify areas of growth, the retailer used Unacast’s migration pattern data at the census tract level to assess growth by month. This unveiled where there were gains or losses in both population and income down to a detailed level. By focusing on areas with growing populations and with its target, above-average income levels, the brand was able to identify likely locations for new stores. For example, a specific census tract in the west showed both population and income growth, with each new person coming in averaging about $14,000 more than the local median income. This information was useful for the retailer to consider when deciding on store locations and product assortments for the county
Implementation approach / costs [max. 500 characters]: The retailer looked at the distance traveled by visitors to a competitor’s store (known as catchment area) that was previously identified as having the highest rate of visitation among local competitors. While almost two-thirds of the visitors came from within 6 miles of the store, we also found that about one-third traveled greater than 6 miles. This presented an opportunity for our client to locate a store a little closer to the visitors coming from more than 6 miles away.
Choose in which award round you would like to participate: (North America) NRF Award
Solutions & Operations
Data Analytics
Information Technology
Fri 25 Apr
Sat 26 Apr
Sun 27 Apr
Mon 28 Apr
Tue 29 Apr
Wed 30 Apr
Thu 01 May
Fri 02 May
Sat 03 May
Sun 04 May
In Person
Video Chat
Your information

Contact Me

Call WhatsApp
You can reply to private messages from "Inbox" page in your user account.

Case Reviews

You need to login in order to post a review

Similar Listings

2
Retail Technology

Product Delivery and Pickup

with Crate&Barrel
Crate&Barrel uses the Glympse location data platform to enhance their product delivery by providing real-time geolocation visibility and transparency as to when their customer can expect to receive the goods they purchased. Crate&Barrel uses the Glympse En Route and the Glympse Software Development Kit (SDK) to provide real-time geolocation services ...
2
Retail Technology

AI-powered skin type analysis tool from Perfect Corp.

with
The AI-powered skin type analysis tool was implemented by Douglas in July 2022. It is a completely new, customized solution that allows customers to determine their skin type and other skin characteristics via the DOUGLAS app. The skin analysis is based on AgileFace® tracking technology, a patented technology from Perfect Corp. that enables ultra-accurate vi ...
1
Retail Technology

Coin-counting solution kiosk

with Coinstar
Consumers trust Coinstar® kiosks to provide a convenient and reliable coin-counting solution. We’ve built our reputation on 25 years of customer service and more than one billion successful transactions since our first kiosk was installed in 1992. With nearly 20,000 kiosks worldwide, Coinstar kiosks are easy to find and use. In fact, 90% of the U.S. populati ...
1
NRF Retail`s Big Show
Retail Technology

Virtual Stores – Transforming Retail with virtual Environments

with L'Oreal, Estee Lauder, Mondelez, Calvin Klein and many others.
Online shopping can be a tedious and uninspiring experience, with many websites offering dull feeds and achieving low conversion rates. It’s difficult to recreate the excitement and engagement of shopping in a physical store. But ByondXR is here to change that. The innovative platform uses immersive 3D simulations to bring the in-store experience onlin ...
  • Advanced Search

    More Search Options

Compare Cases

Unacast