Cannibalization in Expansion Plans: How to avoid it?
In marketing strategies, cannibalization refers to decreasing sales revenue, volume, or market share. This happens because of a company introducing a new product. In E-commerce, some companies approach intentional cannibalization to reduce the prices of their offerings. This allows them to benefit from the host of customers that gather to buy the discounted product. Therefore, […]
How to increase foot traffic in 2022 with Big Data?
Foot traffic is a key factor for the success of any retail store, the main step to increase it is to measure it. Only by counting and tracking it is it possible to identify the factors that affect and improve a retailer’s store footfall. What is foot traffic? Foot traffic is the number of customers […]
Footfall analytics: Walmart Vs. Kroger, US
Supermarkets can apply location intelligence techniques and footfall analytics to understand consumer mobility patterns, generate efficient site selection strategies, understand the performance of their stores, and estimate competitor turnover. The correlation between foot traffic visitation, sales, and the success of retail supermarkets have been studied and proven, so the development of this […]
Footfall analytics: Woolworths Food Vs Shoprite South Africa
Identifying mobility patterns and classifying consumers within a point of sale or areas of interest helps large retail supermarkets measure foot traffic in and out of their stores while understanding the behavioral patterns of their consumers. The correlation between foot traffic, visits, sales, and the success of retail supermarkets has been studied and proven, so […]
Location analytics: Starbucks Coffee Vs. Dunkin’ Donuts
Coffee shop owners need to apply location intelligence techniques and foot traffic analytics to identify consumer mobility patterns, in order to maximize sales and generate more efficient expansion models. The correlation between foot traffic visitation, sales, and the success of coffee shops franchises have been studied and proven, so the development of this type of […]
New Business and Big Data
Technology and tools for analyzing large volumes of information used by large corporations to make business decisions are also available to businessmen and small companies. Finding the best location for a new sales point, finding the areas where potential customers move and analyzing their purchasing power and their behavior as consumers are just some of the […]