PlaceVenueIQ
Perfect Location Selection
Decide which locations are the best fit for your stores
Drive Growth with Location Intelligence
Identify the optimum locations for expansion based on customer demographics, foot traffic, halo, cannibalisation, cross-shopping and spend. Choose the right site to reach your and your competitor target audiences.
Finding new sites
Make the correct decisions of where to locate your next store. Save time, cost and maximise profit potential. PlaceVenueIQ reveals who your customers will be for any high street, shopping centre or retail park.
Benchmark and compare exactly what matters – foot traffic, spend patterns, demographics, the competition and possible halo or cannibalisation. Drill down to store level for over 1.2 million locations across the UK.
Plan your store network
See how opening or closing a store can impact revenue, customer acquisition and catchment overlap. Understand if a new store will target new customers or steal from existing sites.
Overlay current online spend in your proposed new location to see if a physical presence can boost sales. Benchmark against competitor’s spend and visitor market share to understand the growth opportunities and risks.
Negotiate more beneficial leases
Predict site revenue
Investing in a new store is expensive so understanding how a location may perform is crucial in minimising the risk of your decision. Combining revenue from existing store locations with customer demographics, footfall, catchment and competitor market shares – the external factors for success can be understood.
Rapidly compare locations to measure the similarities and differences between new sites and your current best performing locations. PlaceVenueIQ helps you predict the revenue that will be generated before making any lease commitment
How it Works
PlaceVenueIQ requires just four simple steps to create a target list of locations to open a new store. Complete the task in minutes compared to days using traditional methods
Best Performing Store Benchmark
Select your best performing current store and select its location on the map in PlaceVenueIQ. Save as your ‘benchmark’ location. All proposed new locations will be compared across nine performance metrics which are contributing to profitability and growth including footfall traffic, spend, affluence, age, social grade, population, education, employment and tenure.
Choose Possible Locations
Quickly select the prospective location from anywhere in the UK by clicking on the interactive map. Then compare against your benchmark location to understand the location match across all nine performance metrics. Use the brand location tool to identify locations which have competitor or co-tenancy brands to target locations which have proven target audience performance.
Compare Sites using Performance Metrics
Our built-in comparison tools provides a percentage fit compared to your selected benchmark location for all location performance metrics. For example, foot traffic match is 90%, age match 45%, social grade 67%. All metrics are combined to create one total percentage ‘match’ score.
“Make confident acquisition decisions by having access to site and competitor performance.”
Rank your next winning locations
We have made it easy to rank each location by using the location percentage match score. Easily identify which new sites should be at the top of your list. Drill down to identify which metrics may be more important to you e.g. foot traffic, and rank against one or multiple performance metrics of your choice.
PlaceVenueIQ Users
National Brands
Reveal the external performance of every location. Prioritise rollouts where impact is greatest and minimise cannibalisation. Build the most effective network possible, delivering maximum profit.
Franchise
Identify where to open a new site backed by location behaviour, spend indices and customer demographics. Thoroughly research a prospective location before signing on the dotted line.
Commercial Real Estate
Rapidly increase speed, lower cost and minimise risk of site selection. Optimise lease negotiations using core indicators. Make confident acquisition decisions based on site and competitor performance.
Regional Chains
Identify where your customers live and work. Understand current site performance including foot traffic, customer demographics and preferences. Use our Location Score to cost effectively identify locations which deliver the growth for your business.
Business Improvement Districts
Provide BIDs and Levy Payers the understanding of who your customers are, where they are shopping and their origin locations. We map the local landscape showing which competitors are nearby and where you need to compete the hardest. We help you increase ROI, gain competitive advantage and win customers from rivals.