Measuring the potential of micro markets, based on the evaluation of a business environment and its comparison with similar sales points, is essential for designing appropriate commercial strategies or deciding where to open a new store.

Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Trade Intelligence team analyzed the environment of some of the main hardware stores in Central America. Below is an extract of the study's findings.

Highlights of the analysis for Central American countries


Costa Rica:


When analyzing the potential demand for EPA in Escazú, it can be seen that at a distance of 15 minutes by car, there is a target market of about 315 thousand people, who together spend more than $200 million per month. When the main interests of these people are analyzed, the analysis shows that of the total number of consumers, 16% are interested in gardening items.




Guatemala:


15 minutes away by car from Novex in zone 10, there is a potential market of 350,000 people, who together spend about $113 million monthly. When evaluating the interests of this segment of the population, data show that of the total number of consumers, 18% show interest in interior design.

Panama:


The Hardware Store Panama Trading, located in Eusebio A. Morales Street in the country's capital, 15 minutes away by car, concentrates a target market of more than 420 thousand people, who together spend more than $61 million monthly. Of this group of consumers, about 16% are interested in construction-related issues.

Honduras:


FEYCO Hardware, located in Barrio Medina in San Pedro Sula, has a potential market of 500,000 people, who together spend about $82 million monthly. When analyzing the interests of this group of the population, they detail the data that of the total of consumers, 75% are interested in gardening articles and accessories.

At CentralAmericaData we developed a geomarketing tool based on interactive isochronous maps and consumer data, through which we can identify where people are and what their consumption characteristics are. The map incorporates, for any Central American country, the variables population, income, average monthly expenditure and consumer interests. With this information it is possible to identify potential clients and define promotional strategies accordingly, or also to explore home delivery times from any sales point.

More on this topic

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El Mismo Precio, a store located in the Pradera Concepción shopping center in Guatemala, has a potential market of 136 thousand consumers within a 15-minute drive, of which 13% are interested in discount stores.

Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Business Intelligence Team analyzed the environment of some of the main locations of low cost stores operating in Central American countries. Below is an excerpt of the study's findings.

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Finding out how many people live in the surroundings of the establishment, their income levels, their ages and their tastes and interests, is fundamental information to measure the potential of a supermarket's location.

Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Business Intelligence team analyzed the environment of some of the main supermarket locations operating in Central American countries. Below is an excerpt of the study's findings.

Convenience Stores: Where is the Best Location?

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One of the sales points of the AM PM convenience store chain in Costa Rica, is located in the surroundings of Parque La Sabana, it has a potential market of 254 thousand consumers 15 minutes away by car, and 24% of them are interested in fast food.

Using the Geomarketing solutions we have developed for our clients, CentralAmericaData's Trade Intelligence team analyzed the environment of some of the main locations of convenience stores operating in Central American countries. Below is an extract of the findings of the study.

Department Stores: Potential Market in Central America

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The Almacenes Siman store located in Plaza Gran Vía, in Ciudad Merliot, is a sales point that, at a distance of 15 minutes walking, captures a potential market of over 15 thousand consumers, and 87% of them are interested in footwear.

Using the Geomarketing solutions that we have developed for our clients, CentralAmericaData's Trade Intelligence team analyzed the environment of some of the main department stores in Central America. Below is an excerpt of the study's findings.