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Using target consumer profiles provided by the client, or in some cases recommended by getchee, we use demographic segmentation data to determine the total number of consumers in focus geographies. This tells us about the market in terms of total head count, but to understand it in terms of dollars, we make assumptions for behavior, including an estimate for average expenditure and purchase frequency.
By analyzing consumer purchase behavior from like-branded retailers, we can make some educated average ticket and expenditure assumptions. Using an average expenditure per customer, and multiplying that by the total amount of target consumers gives us a pretty good understanding of the market size in terms of dollars.
Market Potential Analysis — Find market gaps with high retail potential. Through the analysis and mapping of target consumers, competitors, and synergy brands, understand where potential is at country, city, and trade zone levels of geography.
Retail Network Optimization — By comparing existing store locations to prioritized market potential, determine the steps necessary to adjust a retail store network to best cover a market, while improving overall store performance.