Every retailer wants to open up their first store in that prime “main-and-main” location, that is, until they realize how much rent in that space would cost. Due to the high-demand for those heavily trafficked “premium” areas, retailers and restaurateurs need to pay premium prices at those locations. However, they cannot guarantee success as there is no one-size-fits-all location for retail.
You need to understand where your customers are located. Those that simply walk by your storefront does not mean that they are interested in what you’re selling. Even if they do walk in, there is no intent to purchase. But what if you can see where there is purchase intent for your product or service?
Most would say that your business will thrive in locations with a lot of foot traffic. Others will say you need to find the areas that fit your targeted demographic. While these factors are important for success, we have something better.
We can tell you how many people have searched online or shown interest in what you sell through unique datasets, and more importantly, we can show you where they are.
Then combine this with our datasets like demographics, traffic count, spending data, household income, market void analysis, and many others to get actionable insight towards selecting the right location for your business.
Don’t spend $$$$ for a “premium” location. Rather, choose a location that is suited for your business by going to where your customers are located.
At IdealSpot, we want to help you find the ideal location for your specific business through industry-leading insights to give you the whole story for your local market.