CustomTrend: Trade Area
Provider: Spatial Insights, Inc.
Understanding the geographic distribution of customers provides a valuable mechanism for defining trade areas, understanding the demographics of your customers, quantifying trade area cannibalization, and delineating market opportunities.
Mapping customer locations using simple point displays or standard thematic maps based on census geography does not provide an accurate or realistic indication of trade area customer concentration, or the true geographic distribution of customer revenue.
Spatial Insights processes your customer data base using software that assigns a latitude and longitude based on your customer addresses.
Using our proprietary TrendMap mapping technology, customer-based data are mapped and used to define accurate trade areas by modeling the geographic distribution of customer concentration or revenue.
Customer data from multiple store locations can be used to identify and characterize trade area overlap and quantify the effects of cannibalization. Specific demographics and other geographically referenced data can be subset and summarized according to the actual customer trade area or strength of revenue concentration.
Please contact us for pricing information.