Identify the demographic/psychographic data of competitors in your trade area.
Analyze the performance of all comparable retail chain store locations in your trade area, including what types of customers they attract, their highest volume products, and then use this data to estimate your potential market share on a store-by-store basis.
Thousands or even millions of point-of-sale (POS) transactions must be processed & linked to consumer profiles and geospatial coordinates in order to predict the sales performance of your network store locations.
The sheer volume and complexity of this data can be daunting, so running a detailed store analysis can be cumbersome and too infrequent for agile decision making.
Leading retail chains use Alteryx to make their market analyses fast & routine. Alteryx easily accesses and integrates all internal & external data sources, making analytics and reporting a daily guide for better decisions, not the rare exception.
Alteryx will help you fully understand a trade area's potential and to better optimize product allocations, mix, and placements. This promotes better sales management by providing regular benchmarks comparing your store locations to other comparable competitors within a given trade area.
Alteryx is also available pre-loaded with such authoritative datasets as AGS, Experian, CHD, STI, Directory of Major Malls, and the Chain Store Guide.
Benefits for business leaders
- Reliably predict product demand on a neighborhood-by-neighborhood basis
- Choose promotional offers that reflect the buying patterns of local consumers
- Secure the best store locations with rapid analyses and more reliable decision making
Benefits for analysts
- Calculate consumer traffic for any location, by daytime populations
- Use any trade area parameters, including drivetimes, radius, population density, consumer demographics, ZIP codes, or any geographic boundaries
- Generate non-overlapping trade areas that minimize cannibalization
- Deliver analyses on-demand that include interactive or presentation-grade tables, charts & maps