How to utilize location intelligencefor an omni-channel retail strategy?

Background

Our client, a well-established retail conglomerate with a presence in both digital and physical stores across diverse regions, aimed to enhance their understanding of sales performance and market share.

Challenges

Acknowledging their extensive store network and diverse customer base, they identified the importance of utilizing advanced analytics to fine-tune their omnichannel business approach and stimulate growth. However, they faced the challenge of managing separate digital and physical datasets, lacking integration under a single platform.

Keywords

E-commerce, Physical Stores, Expansion

Datasets

CRM data, Demographics

Analysis

Zoning, Thematic Mapping

INDUSTRIES

Retail

Solution

Our team proposed the implementation of location intelligence software to address the client's challenges effectively. By leveraging cutting-edge mapping technology, we aimed to provide actionable insights derived from the analysis of both digital and physical store sales data superposed with demographics data, as well as market share information. Key components of the solution included:

1. Data Integration

Aggregation of the client's sales and market share data from various sources into a unified platform for comprehensive analysis. Geocoding and cleaning customer data address information.

2. Spatial Analysis

Mapping of the data onto geographical regions to visualize patterns and trends, enabling the identification of high-performing areas and areas with untapped potential. Producing thematic maps by stores and by zones based on sales and market share ranges.

3. Clustering and Segmentation

Utilization of advanced algorithms to cluster stores based on various parameters such as sales performance, demographic characteristics, and competitive landscape.

4. Predictive Modeling:

Development of predictive models to forecast strategy locations potentials and consumer behavior, facilitating proactive decision-making.

5. Unified Access Platform

Implementing a centralized platform accessible by executive-level stakeholders, store managers, and digital store heads, fostering seamless collaboration and real-time insights sharing.

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