Successfully attracting customers to a retail store is challenging even under the best of circumstances. But add uncertain elements like pressure from competitors, along with a lack of a target audience, and you will have a problem on your hands. However, leveraging data in your business decisions allows you to identify the strategies to increase […]
Sun Tzu famously said, “Know your enemy and know yourself and never fear the result of a hundred battles.” Competition mapping is the starting point to accurately develop a comprehensive expansion strategy for a retail business. Competitor analysis also known as competition mapping is the strategic process of analyzing and evaluating your competitors’ strengths, weaknesses,
Like any other business, for a fitness brand growth is dependent on being accessible to the right audience on the right street across multiple cities. Apart from this. there are multiple concerns for a fitness chain to address while opening new fitness centers, some of which are: For a major fitness brand in India, GeoIQ
The success or closure of a retail store is an intricate interplay of various elements, demanding a comprehensive understanding of consumer behavior, economic trends, technological advancements, product-market fit, and more. The surge in retail closures is not a matter of mere chance. Comprehensive data analysis points to four primary contributors: poor location selection, brand cannibalization,
In today’s competitive business landscape, choosing the right business location for your venture is crucial for success. Whether you are planning to open a new retail store, expand your business, or establish a manufacturing plant, a well-informed site selection process is essential. This blog aims to guide you through the process of refining your site
Stockpiling up inventory for an audience who will never come. This is an exercise in absurdity that ranks among the greatest experiments in financial ruin in the history of the world. As a retail professional, you may own a retail business, or work for one. And nothing is more important to you and your business
