Trade Area Demographics
Provider: Spatial Insights, Inc.
Market research studies aimed at determining market potential and site selection suitability routinely evaluate local demographics, competitor locations and logistical factors within the proposed trade area. Traditionally, trade areas are defined and evaluated using radial distance, or “ring”, studies. This simplistic approach commonly results in the incorrect delineation of the trade area, causes errors of omission and commission, and can lead to incorrect market research and site selection decisions.
Spatial Insights uses a variety of sophisticated spatial analysis tools to more accurately define trade areas, leading to better, more reliable, market analysis and siting decisions than those based on simple radial distances.
Spatial Insights uses sophisticated spatial interaction and patronage probability (gravity-based) models to define and characterize trade areas. Using advanced trend surface modeling techniques, customer-based point-of-sale data can also be mapped and used to define and delineate the actual trade areas. Specific demographics and other geographically referenced data are then subset and classified according to the strength of the actual demand signature.
Spatial Insights uses state-of-the art spatial modeling and mapping system technology to provide our customers with innovative consulting services for a wide range of market research and site selection studies.
Spatial Insights also offers a full line of desktop mapping software and data products. We are value added resellers for most major providers of street files, boundary files, demographic data, satellite imagery, shopping center and traffic count data.
Please contact us for pricing information.
Since 1993, Spatial Insights has been leveraging unique partnerships with the industry’s leading providers of mapping software and data to provide solutions tailored specifically to meet our clients’ diverse needs.
For more information about our services, or how we could help your business, please contact us at 800.347.5291 or fill out the form below.