How to create the best branch expansion strategy?
Tuesday, March 15, 2022
To ensure the success of branch expansion strategies for site selection plans, it’s necessary to compare the business model with the the potential market needs and build the corresponding strategy, location and foot traffic analytics are the best tool to do so.
Foot traffic data gives retailers a competitive advantage in site selection by helping to visualize how local market dynamics have changed over a long period of time, uncovering new opportunities and insights in real time that would not necessarily have been evident through more traditional or one-dimensional data sources.

Location analytics gives insight into whether a business will succeed in a given area, by mapping key area demographics, buying habits and competitor locations, it is possible to identify where there is active demand for any given product or service.

Also Read: “Predictive modeling for site selection strategies

Using location analytics to create a market area profile minimizes the risks of failure by helping to integrate your business into the needs and buying habits of an area, can give you a competitive advantage and ultimately avoid costly mistakes. Read the complete article here

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