"Retailers that are able to have this blueprint and act quickly are going to be at an advantage for the next couple of years as space is probably going to continue to be very tight."
In this episode, Lyden Foust, Brian Strickland, and Dave Huntoon discuss key aspects of market selection and site expansion in retail, focusing on trade areas, customer profiling, and competition. They share insights on using data analytics, including mobile data, to inform strategic decisions and highlight the importance of demographic and psychographic data in understanding customer behavior. The conversation explores retail location strategy, competitive positioning, and site characteristics, offering methods for analyzing trade areas and balancing data-driven insights with real-world observations.
Chapters:
(00:00) Introduction
(07:12) The Site Selection Process
(13:06) Understanding Trade Areas and Customer Profiling
(24:14) The Role of Competition in Site Selection
(30:36) Granular Analysis of Trade Areas
(36:11) Evaluating Market Expansion Strategies
(42:22) The Art of Location Decisions
(50:18) Learning from Outliers
Learn more about Kalibrate
Follow Dave Huntoon on: LinkedIn
Follow Brian Strickland on: LinkedIn
Listen to Consumer Code on: Spotify | Apple | YouTube
Follow Lyden Foust on: LinkedIn | Instagram
About Spatial.ai:
Spatial.ai’s PersonaLive is an advanced consumer segmentation platform for developing data-driven marketing strategies. PersonaLive categorizes U.S. households into 17 groups and 80 segments using consumer behavior data from transactions, mobile visits, and social media activity, providing marketers with deep insights for effective audience targeting. From mid-sized retailers and agencies to Fortune 500 companies, hundreds of businesses use PersonaLive to drive strategic decisions and enhance marketing performance.
Learn more at spatial.ai or schedule a free 30-minute demo.
