Location analysis with Prospex GIS
With the challenges facing fixed-location retail and distribution businesses, Prospex can give you the edge you need to ensure that your business remains competitive and profitable. Prospex allows you to bring together population densities, customer demographics and travel time and distance data to give you a robust and insightful picture of the value of different sites. Whether you are:
- Planning the location for a new store
- Mapping franchise areas
- Establishing delivery territories
- Reviewing catchment areas for existing outlets
- Creating a full retail analysis report
- Assessing the geographic marketplace prior to a corporate acquisition
Prospex gives you the tools you need to make geography work for you, and is the ideal desktop mapping software for site analysis.
Easy location mapping
Prospex point import recognises your store locations based on postcode, GPS coordinates or OS grid references. If you only have a handful of stores, or would like to plot points of interest outside of your own data – or even the locations of competitors – you can manually select and map points. Even this basic location mapping, when combined with Prospex’ presentation tools, can be of great value to your organisation in presenting accurate and attractive maps of your current store, sales or delivery network.
Know your customers, and where they are
Once your store network is mapped in our Prospex Geographic Information System (GIS), you can create meaningful catchment areas within which to run your retail site analysis.
Map your existing customer data to demographic profiles and use this to visualise customer penetration within existing catchments – and plot potential targets for marketing and expansion. This is also great to optimise store catchments as you can visualise branch overlaps and customer cannibalisation between stores.
Combining Prospex with our demographic and census data, or your own sales data, gives you the information you need to make the best decisions. View your store areas colour coded by current or potential value. Find new areas that have potential for development.
Catchments based on travel time or distance
The drive time wizard included in Prospex is a powerful tool to supplement customer analysis. It can create catchments based on realistic drive times, using peak, off-peak, car or HGV drive times. If you offer a delivery service to your customers, this feature can help you to tier delivery pricing and plan efficient distribution routes.
This functionality can also map customer travel times to see how easily they can reach your store or location. Different road networks can have a major influence on travel times and who constitutes a close customer in real terms. For example, a simple measured radius from your store will not account for the fact that distant customers near an A road can get to you a lot easier than a “local” customer limited to a rural road network. This type of business intelligence provides a very valuable accompaniment to customer profiling.
The influence of local facilities
Once you have considered the road network, many of our clients like to consider what other local features might influence their business. Are you positioned close to public transport hubs, how close are your competitors, are you surrounded by complementary industries to bring the right kind of customer to you? What other features close by might increase the traffic passing your storefront? We can help you to source data to give you the richest location intelligence you can hope to achieve. Get in touch if you have a particular type of location data you would like to supplement your site and customer analysis.
Vision Express wanted to expand their portfolio of stores and customers. To find out where to locate new stores they needed to understand the consumer characteristics of their existing store catchments....
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