This article was originally created on LinkedIn.
It All Starts With 1 Location
The location strategies and portfolios of North America’s top retailers can be awe inspiring when you put some thought into how they got to be where they are today. We often take for granted the sheer amount of decision making and analysis that’s required to take a company from its first location to a hundred locations, let alone to a thousand or more. It can seem like everywhere you look most if not all of shoppers’ needs are already being met by some combination of large corporations, franchises, and regional companies.
When I look at the retail landscape with all of that in mind, I ask myself: If I were going to open up a retail store of any kind, what would it be and where would I open? Assuming I can come up with something that consumers actually want and that I have the capability to execute on, would I know what to look for when deciding on the perfect location?
Don’t forget that the large retailers I’d be in competition with for my product or service would also be competition when it comes to lease offers on the best retail spaces!
This is the position all retail businesses find themselves in. Daunting, isn’t it?
Here at PiinPoint we recommend working with a great commercial real estate broker when approaching retail site selection, and for good reason. In addition to this, we’ve found that folks want to be more proactive in their site selection process so that when they do reach out to a broker it can be a more productive relationship. This is a good thing! The only constraint being the cost of analytical tools doesn’t always align with available budget for such things.
This is where we want to help and give back to the industry that has been so good to us - helping businesses develop an understanding of what their ideal location may be.
PiinPoint’s best in class location intelligence software enables users to, with a few clicks, pull powerful insights through demographic reporting, trade area analysis, and target audience mapping.
Through the PiinPoint Grant Program, business owners have the opportunity to benefit from our team’s expertise in this software, in order to analyze a given market and group of candidate real estate listings under consideration during a PiinPoint guided market analysis call.
The grant recipient will come away from this call with the following:
- Demographic and Geosocial Segmentation Heatmap outputs
- Single site reports (5) that combine comprehensive data on the location(s) of interest
- Comparison report (1) of all sites
- Smart Layer analysis on all sites to reverse engineer demographic success factors
- Mobile data traffic count (up to 5)
Please, if you are interested in applying or know of a business who would be a fit, fill out this simple application and someone from our team will be in touch!