Retail Attractions, LLC is equipped with the latest data and technology to conduct an extensive analysis of multiple locations around the country and thus identify emerging market areas that hold substantial potential for retail growth and expansion. Based upon the quality and timeliness of our data along with our proprietary processes of generating, evaluating and filtering information, driven by years of on the ground retail site selection experience and high level GIS implementation and strategy, we are able to pinpoint those emerging areas early. This provides a substantial advantage to developers who utilize our data. This process, based upon over 50 years of retail networking expertise, will provide leverage to our clients by providing:
Full Disclosure ability to identify every emerging retail market opportunity, based on client specific criteria over a wide area.
Broad Band Analysis ability to analyze and evaluate multiple market opportunities simultaneously.
Expedited Decision-Making enhanced ability to make strategic decisions and be able to move more efficiently on multiple opportunities concurrently, thus getting to the market more quickly.
PROCESS:
Phase 1 - Multi-State Analysis An analysis of a multiple-state area to identify TruePicture Communities poised for retail growth, based on population growth and income factors deemed desirable for the development of various sized retail centers or single store retail locations. The analysis is a proprietary methodology which uses demographic parameters provided by the client or determined by evaluating known retail locations (such as, existing store brand locations). Utilizing the most accurate and current population demographics, the analysis allows us to pinpoint historical quarterly residential growth while applying filters such as income levels and total population.
A complete step by step presentation will be provided with the end result a map(s) showing the top 50 development opportunities in a multi-state area. This presentation will include a working session where each opportunity will be fully discussed, ranked and scheduled for TruePicture Analysis based upon client selection.
Phase 2 TruePicture Market Analysis This phase provides a deeper, street-level analysis of the communities that will evaluate retail growth and expansion opportunities. This detailed analysis provides a true picture of the opportunity; custom filtered based on client criteria and includes mapping and reporting of:
- On-site visit/survey of identified target area.
- Detailed demographics (most current quarter available) at 1 mile grid
- Traffic counts
- Trade Area Analysis of existing major brand retail locations
- Competitive Analysis of existing major brand retail locations
- Existing Retail Center capacity / leakage / gap analysis
- TruePicture Analysis for additional location opportunities
- Satellite Imagery (latest image available) and current aerial
- Identification and mapping of targeted retail opportunity(s)
Once the analysis is complete, we will present the findings for each target market, discuss the market demographics, retail center and competitive profile, evaluate the level of opportunity, and make recommendations for which markets should move to the next phase of analysis.
The following tools are utilized for both Phase 1 and Phase 2 Analysis:
PopStats Demographic Data This demographic data is updated quarterly to end users based on new ZIP+4 data (note that new data and statistics are delivered monthly, updated quarterly). This data is modeled where a growth factor is derived for every ZIP+4 in the country. This application occurs via a proprietary model that uses this information as well as other pertinent factors (see below) to generate a current estimate. The data sources for PopStats datasets come from:
- United States Postal Service (USPS)
- United States Department of Defense (DMDC)
- United States Census Bureau
- National Center for Education Statistics (NCES)
- Federal Financial Institutions Examination Council (FFIEC)
- Internal Revenue Service (IRS)
- Bureau of Economic Analysis (BEA)
- Bureau of Labor Statistics (BLS)
- Office of Federal Housing Enterprise Oversight (OFHEO)
Most data vendors and therefore most data analysts are using information that is delivered once annually and is based upon trended census growth figures (i.e., 1990 to 2000). Census trended data misses any new growth that may occur, particularly isolated hot communities that tend to flare up in a few years and sometimes a few quarters.
Allocate Demographic Analyzer Technology - Allocate is a highly sophisticated data retrieval and reporting engine for use with demographic statistics. Tables and reports can be created for any geographic area (standard or user-defined.) Allocate uses proprietary block centroid allocation technology to perform the analysis. Allocate assigns block group demographics to any geographic area by capturing population and household information from the individual block centroids contained with any radius or polygon.
TruePicture Locator Analysis This proprietary tool identifies the highest potential locations in an area, a market, an entire state or a group of states. The system allows the user to incorporate their specific site requirements to find the best possible locations that meet their customer characteristics and exiting network of locations. To accomplish our analysis we divide the entire analysis area into 1-mile grids. For each grid, we derive the demographic data for any size trade area (for example, 1, 3, 5, 10 miles). TruePicture Locator allows us to:
- Evaluate and experiment with the variables important to the concept under evaluation in the geographic areas selected.
- Focus client efforts in the areas that are most conductive to high volume.
- Reduce the time it takes to filter areas and select which ones to take to the next analysis step.
Contact us at (918) 376-6707 and let us help you find the perfect site for your next project.