Trade area analysis defines the following types of trade areas around your store
- Simple ring-created around your stores using a radius you specify
- Data driven ring-created around your stores using a radius proportional to a store characteristic such as total sales, square footage, and gross leasable area
- Equal competition-creates trade area boundaries halfway between each store and its neighboring stores (Thiessen polygons)
- Drive time-defines areas accessible along the street network based on your specified maximum travel time or distance
- Gravity model-predicts the sales potential of an area based on distance, competition, attractiveness factors, and consumer spending
- Threshold ring-creates rings containing a specified population or household count
Once the trade area is defined, the data for reports and analysis is extracted from numerous demographic, expenditure, and business databases, much like a cookie cutter cutting out dough for a cookie.
Our trade area analysis tools consist of:
- Thematic maps
Reports provide a rich view of data about a specific trade area or a set of target trade areas. Our reports fall into several general categories:
- Detailed demographics
- Site comparison reports
- Special market reports
These reports include charts, graphs, & tables to help you visualize the data.
Detailed demographic reports – take demographic data from the decade census, and now from the U.S Census Bureau’s Community Survey (a form of rolling census), adjusted with USPS postal delivery records to provide:
- Summaries of population, households, & families
- A detailed breakdown of population by age
- A detailed breakdown of households by income level
- A detailed breakdown of population by ethnicity
Site comparison reports – use the same data from the detailed demographic reports and provide a side-by-side comparison of two, or more, sites, so you can pick the best site for your business success.
Thematic maps – are a powerful tool that provides you with the ability to “SEE” the data, and thereby discover valuable relationships that can mean increased revenue and success for your business!
Get a Trade Area Analysis Estimate Today!!!