What’s key to successful retail expansion? Location, location, location. Retailers know that good store sites are critical to ensuring a healthy revenue stream. Presidion predictive analytics applications enable retailers to select the right store locations-and design effective interior layouts as well.
Retailer selects new store locations with help from IBM SPSS
Halfords Department Store uses IBM SPSS Modeler to accomplish its goal, and confidently predict its most profitable new store locations.
Retailers use this predictive insight to:
- Know which locations offer the most long-term profit potential – and which don’t.
- Arrange products to increase multi-product purchases.
- Understand how store layout and flow shape the overall shopping experience.
- Reduce retail theft and loss by changing product location or store layout.
For example, a leading U.S. fabric and crafts supplier redesigned its store interiors according to products that were purchased together. Herlitz, a German office products manufacturer, used a combination of point-of-sale data and demographic information to identify the best products for each store, and create the most effective interior flow and layout.
IBM SPSS tool plays a critical role in the lifecycle of new store openings
Debenhams chose IBM SPSS predictive analytics tool to analyse potential new stores.