Geo-Located Demand for Your Product
INRIX Vehicle Traffic
IdealSpot combines accurate and relevant data with thoughtful analysis to help retailers, landlords, and commercial real estate providers find and evaluate locations. Map existing, competitive, and potential locations for your business. Explore the demographics of your city, and evaluate the population surrounding any location on your map.
Social Interest and Search Intent map layers reveal geo-located demand for your product or service. Hourly vehicle traffic counts let you understand the flow of potential customers near your locations. Analyze the retail landscape using Market Gap, Void, and Balance, or through our Location Scoring to plot Market Opportunities for your business.
Map your locations, the locations of your competitors, target locations you are considering for rent or purchase, and feeder locations that positively impact your business. You can add locations by address, brand name, keyword, or simply clicking a point of interest and pressing save. It is easy to add notes, upload files, enter revenues for locations, and share your map with team members.
Understanding the demographics of your trade area is important. Where are the densest pockets of people that fit your desired demographic profile? IdealSpot provides basic demographic information for free. You can analyze demographics on a city-wide basis, or around any location on your map. Our data is accurate to current-year estimates and sourced from several services including Esri, and the U.S. Census Bureau.
Total Demand - Social Interest
Demographics do not always equate to demand for your product or service. Our Social Interest data captures expressions of interest for over 500 distinct business categories. These expressions include: announcements, likes, shares, check-ins, and other social signals. Mapping a local population’s signaled Social Interest allows you to understand the wants, needs, and preferences of your customers. You can now look beyond simply what people look like (demographics) to discover who they are, and what they want to purchase.
For instance, the owner of a Yoga Studio can cross-reference their target demographic profile with a map of expressed Social Interest in yoga for every neighborhood in a city to find new opportunities. Instead of just looking for areas that are demographically similar to current locations, they can now see expressed interest in yoga, and identify attractive areas for their expansion.
Total Demand - Search Intent
Search Intent, the latest IdealSpot product, compiles geo-located search volumes for keywords and phrases related to over 500 distinct business categories. For instance, if you are looking to expand your sports bar to another location, you can see how many people in a selected neighborhood recently searched for the nearest “Sports Bar”. If you are a golf retailer, you can find the total number of golf related searches (e.g. local Callaway golf club price comparisons) made in the last 30 days near any location on your map. By combining demographics with Search Intent and Social Interest, you will have a total view of the local population and know what they want to purchase.
Vehicle Traffic Counts
Traffic is key to a successful retail location. However, not all traffic is created equal. Commuters, lunch crowds, and weekend shoppers all impact your business in different ways. You need traffic data that is accurate enough to identify different groups of customers so you can plan accordingly. IdealSpot has partnered with INRIX, a world leading vehicle traffic data company, to create a democratized, accurate, and actionable vehicle traffic product that has previously only been available to the largest companies in the world. INRIX has a network of over 250 million connected devices that provide coverage of every roadway in the United States. You can see how many people are driving by your front door, not just the nearest highway. Vehicle Traffic Counts are available on a weekly, daily, and hourly bases, so you can optimize your operations, and evaluate real estate opportunities based on the traffic data most relevant to your business.
Unmet Demand (Market Gap Analysis)
IdealSpot has surveyed the national retail landscape to establish relationships between businesses of all types. For example, a neighborhood with a two dry cleaners and a pharmacy, will usually have at least one grocery store. These fundamental relationships are used to calculate an expected number of establishments for 500+ business categories, in every neighborhood, across the country. This expected number of establishments is compared to the number of observed establishments in your area, and combined with Total Demand to calculate Unmet Demand.
Market Void Analysis
Market Void combines proprietary geo-located demand data (Search Intent and Social Interest) with Market Gap to produce a list of the most underserved business categories in an area. You can see the amount of unmet customer demand for a neighborhood, city, or state. Landlords, developers, and city planners looking for long-term tenants get a list of the most attractive businesses to pursue, and business owners can find locations surrounded by underserved customers.
Cannibalization analysis examines the overlap between your locations. How will the placement of a new location impact sales at existing locations? With Cannibalization Analysis you can optimize your current portfolio of locations, and minimize sales transfers between locations as you expand.
Location Scoring and Market Opportunities
Location Score and Market Opportunity comb through a massive data warehouse to find the markets that best fit your concept. Proprietary statistical models rank every possible trade area for your concept and provides an easy-to-understand score from 0 to 100, where 100 is a perfect fit for your business. With this analysis, you instantly discover both attractive markets for expansion, and risky markets to avoid.
Better data. Better locations.
Select Upcoming Data
- Mobile Device/Pedestrian Foot Traffic Counts
- Competitive Sales Projections
- Customer Profiling based on the new psychographic data
- Click HERE to join our beta list
Select Upcoming Features
- Ability to export data via a customizable PDF report
- 12 month trend analysis for all applicable data
- The ability to toggle on places of interest
- Location alerts
- Ability to upload custom data
Not convinced? Let us give you a personal tour of the application and show you how you can find the perfect customer for your business today.Request a Demo