Retail: Prices vs Location

In the retail business, the closeness and proximity of sales channels is becoming increasingly important for consumers, and may even be more decisive than product prices.

Tuesday, January 7, 2020

Consumer behavior has been changing in recent years, with increasing access to the Internet and the growth of tools and applications that allow not only searching for information, but also making online purchases. Over time, buyers have confirmed their preference for looking for sales points that offer promotions and good prices, but also close to their homes or workplaces.

You may be interested in "Geomarketing for business decisions"

"... 'The issue of proximity and closeness of sales channels has become even more relevant than prices, as have demographic changes and changes in the roles of family members. The consumer is looking for omnican establishments, which have physical presence but also online with an offer of many services'," reviews an article in Martesfinanciero.com.

"... The consumer combines physical purchases with those of e-commerce. 'In Panama we still see supermarkets that do not offer online service and that is a mistake. It is very serious, because the consumer is sitting in the digital era and is constantly looking for information to compare prices and see the best options."

Also see "Digital Supermarkets Are Here"

In order to maintain sales levels, in the coming years it will be crucial for consumers to interact with sales channels, so offer innovative options to buy not only in their physical stores, but online.

In CentralAmericaData we develop geomarketing solutions that allow not only finding the most optimal location for the opening of a new sales point, but also allow estimating the sales volume that could be reached, depending on the potential demand of the chosen area.

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