Retailers can apply location intelligence techniques and foot traffic analytics to understand consumer mobility patterns, measure foot traffic at each store, understand the performance of their outlets, and estimate competitor turnover.
The correlation between foot traffic visitation, sales, and the success of retail apparel franchises have been studied and proven, so the development of this type of analysis has become a priority in the site selection process and expansion modeling.
Retailers are already implementing Big Data tools such as location intelligence and foot traffic analytics to understand consumer mobility patterns, measure foot traffic at each store, understand the performance of their outlets, and estimate competitor turnover.
Mobility analytics and location intelligence play an important role in business by helping to understand the behavioral patterns of consumers in any given zone of interest or point of sale.
Pedestrian flow analysis, location intelligence and point-of-interest categorization have revolutionized the way retail and wholesale industries implement expansion, commercial and operational strategies in the pharmaceutical sector.
Big Data technological tools and spatial data play a very important role in business by measuring footfall and helping to understand consumer behavior patterns in any given area of interest or point of sale.
Understanding consumer mobility patterns is critical for all types of businesses. Big Data tools, spatial data, and anonymized and aggregated mobility data play a very important role in these analyses, as they enable the measurement of foot traffic and consumer behavior patterns in any given area or point of interest.
Foot traffic analytics, location intelligence, and point-of-sale categorization have revolutionized the way retailers implement expansion models, commercial and operational strategies in the supermarket franchise focused on more organically sourced products.
Location intelligence is revolutionizing the way companies establish, operate and expand their business.
From deciding where to locate a new store to analyzing foot traffic to gauge market competition, the use of location data is growing.
One of the key components of location intelligence is data related to points of interest (POIs). POIs indicate a specific location in an area of interest to businesses: it can be a store, a hospital, a university, or a corporate building, among others, depending on the information required for the particular target, helping companies make faster, more informed and cost-effective decisions.
Location and Footfall Analytics has changed the way retailers implement marketing and commercial strategies in the fast-food restaurant franchise business.
Understanding consumers’ mobility behavioral patterns are critical for all types of restaurants. Big Data tools and spatial data play a very important role in these analyses since they make it possible to measure the foot traffic and mobility patterns of any area or point of interest.
Business intelligence and technology tools enable retail businesses to deeply analyze the behavior of their customers inside and outside their stores, in order to identify the ideal location for future expansion plans.
The data science models are the third phase of location and mobility intelligence analysis, helping retailers to assess the market potential of areas of interest for new store openings and identify optimal potential locations for expansion. These are divided into three steps:
The clothing store market is one of the most popular in the USA, with Big data analytics and location intelligence techniques we made an brief exploratory analysis in Atlanta city.
Case Study: Analysis of Apparel Stores in Atlanta, USA
Using location intelligence techniques it was possible to identify all the stores distributed in the city, the detailed analysis allowed us to classify the venues by market share and identify in which areas of the city they are located. Our research showed that the women’s clothing category is the one with the largest number of stores in the center of Atlanta, while the other categories are distributed in the surrounding areas.
Relocating existing restaurants, strengthening the digital sales channel and identifying the areas where consumers are currently concentrated in order to choose the location of new stores are some of the strategies of the chains when executing their expansion plans.
As a result of the covid-19 outbreak, several expansion projects were affected, which must now reinvent themselves and adapt to the new commercial reality, in which consumers have different lifestyles.
The cement company has announced it will be investing $35 million over three years to increase the production capacity by 25% at the plant it operates in Costa Rica, near the border with Nicaragua.
From a statement issued by CEMEX:
MONTERREY, MEXICO - CEMEX, SAB de CV ("CEMEX") (BMV: CEMEXCPO) announced today that its subsidiary CEMEX Latam Holdings, SA ("CLH") (BVC: CLH) initiated a project to increase cement production capacity of its plant in Colorado, Costa Rica, by approximately 25% in order to reach an annual capacity of 1.1 million tonnes in 2017.
The bank of Guatemalan origin has announced the completion of the purchase process of Procredit and the beginning of operations in December, focusing its services on the agricultural sector.
After completing the purchase process of shares of ProCredit Bank for $30 million, Banrural has announced that it will start operations with 15 agencies nationwide. Its main customer is the agricultural sector, but it also provides loans to SMEs in all areas.
With the operation of four new substations it is expected that by January 2015 the electricity service will cover 90% of the country.
From a statement issued by the Government of Guatemala:
President Otto Perez Molina has ratified his support for investors in order to achieve the goal of full coverage of electricity services nationwide. On a working visit to the town of San Agustin, in the Department of El Progreso on Friday, the president led the opening ceremony of four substations in the Expansion Plan of the Transmission System Energy (PET).
Owners of VivaColombia and the mexican VivaAerobus have announced the opening of a holding company in Panama to start operations in Central and South America.
From a statement issued by Irelandia Aviation and Grupo IAMSA:
Irelandia Aviation and Grupo IAMSA, owners of the Mexican low-cost airline VivaAerobus and of the Colombian airline, VivaColombia, announced their intention to expand the Viva airline brand in Central and South America.
The subsidiary of the multinational company Atento has opened its third call center occupying three floors of the World Technology Center in the capital.
The company, considered one of the best places to work, with this new center has created twelve hundred additional work spaces on top of the two thousand operating so far in Guatemala.
Aejandro Reynal, president of Atento, told Prensalibre.com that "...