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 07, 2020 by Admin
As COVID-19 spreads across the United States researchers need access to the latest data visualization and analytics tools. As a result, the SimplyAnalytics team just added COVID-19 data ...
Posted on Mar 18, 2015 by Admin
Can you guess which US city has the most residents per square mile? Today we’re going to use SimplyMap to answer this question for all cities, as well as cities with a population greater ...
Posted on Dec 12, 2011 by Admin
Men's Health magazine has published a ranked list to help readers find the cities where Americans are the saddest and where they are living with big smiles on their faces. As they note, "...
Posted on Sep 18, 2015 by Admin
With tens of thousands of variables available in SimplyMap, it’s common for users to wonder whether or not a particular variable they have in mind is available in SimplyMap. This is where...
Posted on Sep 21, 2009 by Admin
The North Carolina Library Association will hold its annual conference in Greenville, NC at the Greenville Convention Center from October 6-8, 2009. Geographic Research, Inc. will be exhi...
Posted on Mar 21, 2018 by Admin
The Quick Report is one of the newest features added to SimplyAnalytics - let’s take a look at how it can support your research. This report instantly provides you with a curated list of ...
Posted on May 02, 2016 by Admin
Inspired by a recent support desk question, this week’s SimplyMap report will demonstrate how a user would run a business search that consists of multiple names. In short, the user was at...
Posted on Feb 24, 2023 by Admin
We are excited to attend SCELCapalooza 2023, a three-day conference for academic and research librarians in Southern California. The Vendor Day showcase will take place on March 1st, 2023...
Posted on May 19, 2015 by Admin
We will be attending ALA this summer in San Francisco (hint: dress warm!). Visit us at Booth 413 and don't forget to enter our raffle - we will be giving away a $100 gift certificate to A...
Posted on May 26, 2016 by Admin
In this week’s report exploring SimplyMap data, we take a look at the variables available relative to internet search engines used. The source of this data will come from the SimmonsLOCAL...