What Demographic and Locational Factors Are Driving Sales For Your Business?
February 27th, 2019
We are regularly asked by clients for assistance as they consider what makes their great locations work so well and equally what factors might be causing relatively poor performance at other locations. For many businesses the answers are not easily understood and regression modelling becomes an important part of a network review process.
Network Insights is a new GapMaps data export that answers the call of brands seeking demographic and locational data for their network. The Excel database provides data for catchment areas (drive time, radius or trade area) around each client store location. Data might include demographic variables like population count by specific age bands, household counts and size, median incomes, worker population numbers and occupation types. Other variables might include the distance to the nearest generator like a supermarket or a shopping centre. Business count data might also be required such as the number of defined competitors in the area or the count of registered businesses of certain types in the area.
The report output is tailored for each client and builds on the variables which the client might know are going to be relevant plus others which might provide new business insights and levels of understanding.
The data is provided in a format which makes regression modelling a quick and simple activity. With this level of understanding clients can use the GapMaps platform to seek and evaluate proposed locations against those variables which have been proven to have a positive relationship with high sales outcomes.
Once requested, the report will be provided within two business days.