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 Jan 05, 2018 by Admin
The SimplyAnalytics team is looking forward to exhibiting at the Ontario Library Association Super Conference 2018! Stop by the SimplyAnalytcs booth (115T) and take a look at our newest o...
Posted on Feb 16, 2009 by Admin
Men's Health conducted their first survey of America's recycling habits, and used SimplyMap in their research. Here’s how the editors explain their methodology: To determine how well citi...
Posted on Sep 05, 2019 by Admin
We are pleased to be exhibiting again at the Charleston Library Conference, on Tuesday November 5th, 2019. The Vendor Showcase will be held in the Gaillard Center Grand Ballroom (95 Calho...
Posted on Aug 13, 2015 by Admin
In this quick SimplyMap report, we use Census data to help us identify which city in the United States has the highest percentage of residents who reported walking to work as their mode o...
Posted on Jul 14, 2009 by Admin
Men's Health continues to utilize SimplyMap to identify and rank U.S. cities. This time they are studying "sports-obsessed citizenry," and here is how they did it: Our stat showdown began...
Posted on Mar 09, 2010 by Admin
The GRI team will be exhibiting at the 2010 Public Library Association conference later this month at the Oregon Convention Center in Portland, OR. The PLA National Conference is the prem...
Posted on Feb 13, 2015 by Admin
In this week’s report exploring SimplyMap data, we want to find out where America’s remote workers reside. To find this, we can tap into the Census data in SimplyMap. The specific variabl...
Posted on Dec 09, 2014 by Admin
In this week’s SimplyMap blog post, we set out to discover which large US cities spend the most money per year on their pets. To find this out we used the variable, “Pets, Household Avera...
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 opportun...
Posted on Oct 26, 2018 by Admin
Welcome readers! This week we’ll take a look at how to browse for data by category in SimplyAnalytics. Browsing by Category is the default way of browsing for data in SimplyAnalytics. It ...