There are cases in which you may be required to inform your merchandising or marketing strategy with an analysis of a single store. Such cases could be the distribution of certain products to selected points of sale, a local merchandising plan, or promotional activations at specific stores. Use Placer to review store performance by day and hour, see the competitive position benchmarked against the chain or region, and learn about shopper attributes and cross-shopping patterns.

You’ll be able to answer these questions after reading this article:

1. How can you compare the performance of different stores?
2. How do you understand audience reach and customer draw?
3. How can you examine shopping patterns like cross-shopping and loyalty?

Get started with the following steps:

Step 1: Use the Overview report to review and compare store performance

a. Navigate to Explore and type your POI^{Point (Location) of Interest.} in the search bar. Up to 8 POIs can be selected at one time by checking the box next to the POI or on the left sidebar. The number of selected POIs will appear at the bottom of the sidebar. Click Open Report.

b. Adjust the dates to any custom range. For advanced filterings such as specific days and hours or length of stay threshold, click Add Filter.

c. The Overview report includes some foot traffic metrics, visits trend over time, demographic insights into the store’s visitors, store ranking by visits, and visits by time of day day of the week.

Learn about Foot Traffic Metrics

Step 2: Learn about the store’s trade area and audience draw

a. Go to theTrade Area^{Representation of the dispersion of home and work locations that drive traffic to any venue.} report. Understand the True Trade Area of the store. Filter by visitors’ home or work location, and adjust visit frequency to understand where the most loyal shoppers come from. See the top zip codes where visitors are coming from to inform marketing tactics like direct mail or targeted campaigns.

b. Go to the Demographics report. Discover the key demographic & psychographic attributes using different third-party datasets from Placer’s Marketplace. The different available datasets can be found below the map in Audience Profile.

Learn about Audience Profile for properties

Step 3: Benchmark a store against the chain or region

a. Go to the Ranking report and view how the store ranks by visits/ visits per sq ft against different comparables. You can compare to all chain or retail category stores within the boundaries of different regions like nationwide, state, CBSA, DMA, or even mile radius.

b. The Ranking Index section at the bottom breaks down all ranked locations within a certain chain, category, or region, and highlights where the store is positioned within the ranking.

Learn more about analyzing the competitive position of individual stores in this article.

Step 4: Analyze visits frequency

a. Go to the Loyalty report. Here you can gauge the number of visitors based on their visit frequency within a given timeframe. Use this report to plan promotions for loyalty club members, estimate purchase frequency for specific items, and more.