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Uncovering High-Potential Retail Sites in Zambia
November 14, 2018
African retailers grapple with a consistent growth challenge: finding sites that maximize potential sales. In most cities, geospatial data on consumers is either unavailable or unrealistically expensive to obtain. Fraym offers an unprecedented solution to this challenge.
To help businesses identify the most promising expansion areas, Fraym uses hyper-local data to illustrate the consumer characteristics of specific neighborhoods surrounding potential retail locations. We bring together data on factors like family characteristics, spending patterns, asset ownership, media consumption, and more to create customer profiles that pinpoint the best prospective consumers for a particular retailer.
The map below overlays a hotspot analysis of key consumers with relevant points of interest, like office buildings, to indicate day-time population congregations. We can also map the locations of competitors and integrate client data to strengthen the siting analysis.
In some scenarios finding target customers isn’t enough, it’s also critical to confirm the area is accessible to commerce. Using network analysis, it’s possible to calculate custom catchment areas based on estimated drive-times or walk-times. This can be adjusted to ensure the new location meets the required store support ratio.
When entering new markets or expanding existing ones, businesses should be equipped with the best data possible. Fraym works closely with clients across industries to ensure they are set-up for success.