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RetailIQ - Identify market potential & analyse optimal sites for your Retail stores
Updated: Mar 10, 2024
Description
Retail IQ is an all-encompassing solution for retail that covers everything from city prioritisation, identifying high addressable market areas, ranking potential on each street & predicting revenue for shortlisted properties there by calculating ROI.
Steps
1
👋 Welcome to RetailIQ Demo!
We are analysing market potential for a brand with 100+ stores across Bengaluru
2
Our Brand's Target audience is Households with atleast Rs. 10 lacs income
Map shows income distribution across Bengaluru city
3
To start our analysis, let's locate the Active stores for this brand within Bengaluru.
Will be shown by purple markers on map
4
Let's also view the Competitor presence on the map.
Will be shown by orange dots.
5
Let's find a potential location.
Just Zoom into the map to find high concentration of 10 lacs+ households with less stores of our brand & some competitor presence.
6
To analyse a location click Drop Pin, Get Report
A red location marker will appear that can be dropped at the location that we want to analyse.
7
This looks like an underserved but high potential area.
Let's drop a marker at this location. The marker indicates a potential store.
8
Hmm, interesting! This location has a score of 63 (Good), although it's a High growth area; Spend Quotient & Addressable market size seems to be average.
9
Let's name this site and, find out more about this location with a Site Report
10
Interesting, a full site report! Let's understand this location better with Predicted Revenue, Addressable Market, Penetration numbers.
Predictions look strong, let's dig further.
11
Catchment potential here talks about the 2KM catchment around this location.
Within this catchment, Income, Competitors, Complimentary brands are displayed along with brand's active stores.
Trade Area visualises from where to people travel to this location.
12
This section is telling us about Households in the area, their Affluence & Market Size within 2KM catchment
Market Size is the calculated value that depends on Average ticket size & purchase frequency.
13
Market Landscape talks about what's happening within the market boundary.
Shows footfall patterns, competitors & complimentary brands in the area.
14
Retail Indicators quantify the footfall, growth, spending, market size (no. of shops) & retail presence compared to Bengaluru's average.
15
Retail Mix by Category helps identify category presence in the market.
16
Where Shoppers Come from shows different areas from where people visit this location.
Psst. This could help identify if this market is a destination market vs a local one.
17
Crowd Pullers are popular interest points within this market
18
Similar Markets shows similar market Near this location or Within City
19
Competitor Landscape displays presence of competitor & complimentary brands within 2KM catchment.
High Footfall tag indicates a popular competitor
20
Risk Assessment helps identify risks within the catchment & market boundary.
This location is Cannibalising multiple existing stores.
Also, there have been 15 store closures in this market across categories.
21
Custom Variables are customisable data points that can be added to this report.
This is available in Settings