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Overview
To ensure your new store's success, Nielsen creates custom trading areas around your new store to create a profile of the potential customers who live in that trade area. We can also include your predetermined trade area in the analysis. By understanding the prospective customers of your store in advance, you can create the right product assortment that appeals to that customer. Having the right products and services in a new store can help ensure you achieve or beat your sales targets from the start.
Business Applications
- Evaluate the interactions of your future store with its competition to set competitive pricing and develop effective promotional strategies
- Tailor section sizes and adjacencies to the buying styles of consumers in your trading area
- Evaluate pharmacy, gas and out-of-home expenditures to ensure you have the right mix of services and departments for the neighborhood
- Stock items in your displays that have the greatest appeal to your customer
- Predict and rank the products your customers are most likely to purchase at the category, sub-category and brand level
- Match your new store to existing store clusters
- Understand your prospective customers' demographics
Benefits
Achieve and Beat your Sales Targets
Evaluate which products the customers of your new stores will purchase to create effective assortment, display and merchandising strategies that will properly showcase the store, generate repeat visits and lead to sales growth.
Stay Ahead of the Competition
Understand your store's potential trading area dynamics – neighborhoods, distances, and competitors – and utilize sales, merchandising, marketing and promotional activities that will allow you to best meet your customer's needs and beat the competition.
Understand your Future Customers
Review detailed demographic reports and maps, highlighting key demographics of your store's consumer demographics, product preferences and trade area expenditure information. Use this information to ensure you have the right product assortment, services and departments to attract and keep those consumers.
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