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 28, 2016 by Admin
In this week’s SimplyMap report we’ll take a look at one of our newer data packages offered, P$YCLE® by Nielsen. P$YCLE® is a segmentation system that evaluates consumers using key demogr...
Posted on Oct 26, 2016 by Admin
In this week’s SimplyMap report, we’ll take a look at the tags feature and demonstrate how it can be useful for you as you work in SimplyMap. SimplyMap users can have up to 20 tabs open i...
Posted on Sep 27, 2019 by Admin
Hello readers! This week we provide an in-depth response to a question asking about the legend classification methods in SimplyAnalytics. This response is now part of our Help Center: htt...
Posted on Apr 30, 2008 by Admin
Doreen Harwood, Business Librarian from the University of Washington has developed a series of detailed tutorials on using SimplyMap. The tutorials, which are Flash-based and interactive,...
Posted on Jan 10, 2024 by Admin
We are delighted to announce our sponsorship of the Midwest Entrepreneurship Case Competition! At SimplyAnalytics, we understand the power of data-driven decision-making in entrepreneursh...
Posted on May 18, 2015 by Admin
The SimplyMap team is looking forward to visiting with customers and others at the SLA Annual Conference, coming to Boston on June 14-16. Come visit us at Booth #916, we are happy to answ...
Posted on Nov 28, 2012 by Admin
Come visit the SimplyMap team at the ALA Midwinter Meeting, January 25 - 28, 2013 in Seattle, WA. We will be in Booth 1307, and as always we look forward to meeting with customers new and...
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 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 Mar 13, 2023 by Admin
Hello readers! Today, we’re excited to officially introduce the Location Query Report in SimplyAnalytics. The Location Query Report is a powerful feature in SimplyAnalytics that allows us...