Go up
Exploring SimplyMap Data: Retail Market Power
Posted on Apr 10, 2015 by Admin
In this week’s SimplyMap report, we explore one of the newer datasets available: Retail Market Power®.
What is it? In short, the Retail Market Power® dataset helps users identify opportunities within the industry they are targeting. These gaps are identified by analyzing expenditures and retail sales. Marketers can focus on targeting areas where the expenditures far exceed the total sales.
Let’s take a look at an example.
Scenario: You are thinking of opening up a jewelry store in your ZIP code, but first you want to determine if there is a need for one, and discover if people in the area readily buy jewelery.
Solution: First, open a Standard Report and use your ZIP code as the location. Next, navigate through the Retail market Power category in the Variables menu to find jewelry store expenditures and sales in your location. After selecting the correct variables, close out the Variables menu to generate your report.
The report is shown below:
According to the above results, there is a fairly large gap in the jewelry store industry in the 44146 ZIP code where expenditures are greatly exceeding sales. Many residents must be spending their money at jewelry stores outside of the ZIP code, creating an opportunity for more jewelry stores to site locally.
The above scenario is a brief look at this dataset. Explore the other 17 category folders and let us know some interesting figures you come across!
Lastly, don’t forget to enter into our Winter Sweepstakes where we’ll be giving away an iPad and Kindle Fire! Details here: Winter Sweepstakes!
More from SimplyAnalytics
Posted on Apr 28, 2016 by Admin
In this week’s SimplyMap report we’ll take a look at one of our newer data packages offered, P$YCLE® by Nielsen. P$YCLE® is a segmentation system that evaluates consumers using key demogr...
Posted on May 03, 2011 by Admin
The GRI team is very excited to announce the launch of SimplyMap 2.0! Completely redesigned, it is now easier than ever to access data and create professional quality thematic maps and re...
Posted on Nov 11, 2015 by Admin
Inspired by a recent help desk ticket, we wanted to discuss how users may utilize SimplyMap to identify relationships between unique variables. For example, does having a college degree s...
Posted on Dec 19, 2016 by Admin
Stop by the Geographic Research booth [#T8] at the Ontario Library Association Super Conference to get a hands-on look at our latest and greatest SimplyMap offering. The conference will t...
Posted on Apr 17, 2018 by Admin
The SimplyAnalytics team would like to congratulate Rachel Holder, MLS candidate at Indiana University for being selected as this year's recipient of the BRASS Student Travel Award! ...
Posted on Oct 02, 2015 by Admin
In this week’s SimplyMap tip, we wanted to do a quick write up reminding users about the Saved Tabs feature within SimplyMap. Did you know that SimplyMap will automatically save all of yo...
Posted on Apr 01, 2014 by Admin
Another fantastic series of workshops and events are planned at the SLA Conference on June 8-10th, 2014. Register now for networking and workshops throughout the week. Over 200 events are...
Posted on Mar 22, 2016 by Admin
Inspired by some recent support desk questions, this week’s SimplyMap report will provide some useful tips and tricks to help make the most out of your maps. Let’s get started! First, let...
Posted on Jan 18, 2009 by Admin
Michigan State University is offering their users a basic introduction to using SimplyMap. The 1.5 hour session will cover the basics of how to use SimplyMap to create maps and reports u...
Posted on Aug 27, 2018 by Admin
Welcome readers! This week we are excited to feature our newest view in SimplyAnalytics, the Time Series Table.What is it?The Time Series Table allows you to quickly pull all years availa...