Foot traffic analytics and point-of-interest analytics help large chains supplying contractor-grade building materials and home improvement products measure footfall and understand consumer behavior patterns in any given zone of interest or point of sale.
Case Study
Foot traffic analytics: Builders Warehouse City Cape Town, South Africa
Retail home improvement franchises need to apply location intelligence techniques and foot traffic analytics to identify consumer mobility patterns, in order to maximize sales and generate more efficient expansion models.
The correlation between foot traffic, visits, sales, and the success of hardware home improvement 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.
Analyzing the number of consumers who visit the establishments of any retail company, establishing the days and hours of greatest affluence and comparing it with competing sales points, is possible with Big Data techniques that allow the collection and analysis of large volumes of mobility data.
The millions of anonymized data generated every second by cell phones in all markets around the world make it possible to make increasingly accurate estimates of the levels of customer traffic received by commercial establishments.
The potential business of these establishments can be assessed by estimating the number of people living in the surrounding area, their socio-demographic characteristics, their consumption capacity and the type of products they are interested in.
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.
Hardware store sales in Central America are projected to register a considerable drop, which would be mainly due to the expected decline in retail sales of paints.
The "Information System for the Impact Analysis of covid-19 on Business", prepared by the Trade Intelligence Unit of CentralAmericaData, measures the impact that the crisis will have on companies according to their sector or economic activity, considering different scenarios for the coming months.
From September 20 to 22, entrepreneurs from the hardware sector from 11 countries will be meeting in Panama City to hold business conferences with the aim of forging alliances.
According to the organizers of "Expo F 2018", the event will involve traders from Argentina, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Nicaragua, Panama and the Dominican Republic, who will try to create commercial alliances.
In the region there are nearly 4,000 retail points of sale of hardware products, 45% of which are concentrated in Guatemala and Costa Rica.
Analysis by the Business Intelligence Unit at CentralAmericaData yields interesting results about hardware stores function and where they are located in Central American countries.
The Commission to Promote Competition in Costa Rica has approved the purchase of 100% of the shares of the company Incesa by OC International Hondings.
Elfinancierocr.com publishes "The request made by OC International was presented on May 7 and once the required documentation had been submitted they proceeded to analyze the appropriateness of the transaction in the light of the provisions of the Competition Act."
With an estimated investment of $ 12 million this year, the Venezuelan chain opens its first store in El Salvador.
Located in the municipality of Soyapango (seven miles east of San Salvador), the hardware store will open next May, employing 190 people.
Ignacio Vieto, general manager of the chain in Costa Rica, also referred to the forthcoming opening of the fourth store of the chain in Costa Rica, located in Colima de Tibas.