NEWGROVE Blog

Location planning checklist for retailers

Location planning checklist for retailers

We don’t need to tell you that thorough location planning can make or break the success of your new outlet. There are so many variables to consider when selecting a site for a new retail outlet, and effectively collating and analysing all the data you need to make a final decision can become a major challenge. Use this checklist to assess potential sites for your next location. Signs of a promising location If you spot any of these factors developing in a market, it is probably worth looking at it in more detail: Existing and potential customers are buying from competitors’ stores The local transport network is set to be upgraded in the near future A new residential or retail development has been granted planning permission Indicators that a location could perform well These are some of the clearest signs that your new store could be successful in a... read more
The new age of customer profiling

The new age of customer profiling

Customer profiling has always been integral to commercial success. But, significant technological advances have offered up a wealth of new data, and intelligent algorithms have been developed that can automatically aggregate and present this marketing data for you to use practically. Read on to find out what’s changed with customer profiling and how you can turn this data into a more personalised, accurate marketing strategy. Customer profiling through the ages Customer profiling was once limited to a few disparate information sources that could only provide a limited customer profile, even after hours spent manually drawing conclusions. Customer profiling has been broadly restricted to: Buyer behaviour By recording the details of previous purchases using loyalty card or customer account data, you could find out what each of their customers tended to buy and when. Identity Analysing census data provided a wider range of information, including: Population count Educational background Employment... read more
Carlo Ratti – Mr Internet of Things

Carlo Ratti – Mr Internet of Things

The Italian architect Carlo Ratti really has embraced the Internet of Things(IOT) from a smart sofa, intelligent personalised office environments to the ‘Future Food District’. He has been included in Esquire Magazine’s Best and Brightest list, in Blueprint Magazine’s 25 People who will Change the World of Design and in Forbes Magazine’s People you need to know in 2011. Working with supermarket chain COOP Italia, Ratti wanted to explore whether providing digital information on the origin, ingredients and manufacturing of the foods on display would affect the way that people interact with and select food. The result is the Future Food District – a pavilion that functions as a real supermarket where consumers can purchase items. The difference is that all the products on display are positioned beneath digital mirrors that present information about the foods. Smart environmental offices are becoming more the norm and Carlo Ratti has gone... read more
Location Intelligence – A More Dynamic View of Your Data

Location Intelligence – A More Dynamic View of Your Data

Companies today have numerous tools to build a better view and understanding of customer behavior: third party research and datasets, online analytics, loyalty cards and online activity logs. Yet despite receiving enormous amounts of information from their customers about their preferences, challenges and satisfaction levels, most brands are failing to understand the context of their data, location intelligence can change this. “Moving forward, analytic and information leaders must put the “where” question to all new BI and analytic projects”. – Gartner By exploiting the location element in data and different data visualisation outputs, location intelligence empowers retailers to better understand every step of the purchase funnels. When brands understand the where component of the data they can start to see what is influencing their customers to do what they do. This is because as a strategy it allows for more complex segmentation, efficient territory management, competitor mapping, location planning... read more
Use Location Intelligence to Enrich Your Customer Personas

Use Location Intelligence to Enrich Your Customer Personas

Relevance is key to any marketing activity, no matter how compelling the content, if it’s not relevant to the recipient it’s pointless. For content marketing efforts, you need personas to ensure you deliver the most applicable and valuable content to your audience. A company creates these personas based on its own customer data by considering factors such as lifestyle, demographics and buying habits of its most loyal and profitable customers. It’s important to weigh up different buying patterns; profit margins may be quite similar in areas where people tend to buy small value items regularly and areas where people buy less frequently but higher-end items. Once a business has developed customer personas, location intelligence data can enrich those personas further. With the right analysis method – crunching through publicly and privately available datasets and additionally being able to visualise the results on a map – it is easy to... read more
Location Intelligent Advertising

Location Intelligent Advertising

I would urge you to read an Interesting article in AdExchanger this month on how advertisers are embracing Location Intelligence or not! It’s interesting in that it’s not about the obvious placing of ads, it’s much more than that, and it’s about understanding consumers behaviours. It discussed analysing patterns of behaviour, not about the consumer transaction alone but what happens before and after it. Researchers are using Location Intelligence to really begin understand why stores perform better in different locations, city or country. Again this article states just how much could be done with the data available and just how powerful Location Intelligence is becoming to truly understand consumers rapidly changing... read more