Background

Our client, a national homelessness charity, sought to evaluate the potential of various store locations for expanding their furniture and boutique formats. Having successfully launched new furniture stores already and trialled boutique shops in upscale London areas, they received board approval for a significant rollout.

The project aimed to analyse the sales potential of shortlisted locations by examining the demographics and sales data of existing stores. Key questions included understanding the trade areas of current and proposed sites and estimating expected sales from these new locations.

Approach

Our approach centred on leveraging trade area demographics to forecast sales for proposed sites. We focused on various factors, including shopper footfall, location accessibility, store management, staffing, stock range and quality, pricing policies, and marketing efforts.

We developed insights into the demographic profiles of current trade areas and their variations. This enabled us to compare proposed sites with existing ones, assessing their potential based on demographic similarities and differences, ultimately guiding strategic decisions for site selection.

Outcome

We enabled our client to strategically identify and select sites with the highest potential for expansion.

Our insights also enabled them to optimise sales forecasts and refine their rollout strategy, ensuring effective resource allocation and maximising market opportunities.