Identifying the best locations for local stores
A decision making tool for shopkeepers to identify the best location for their store.
// OUTCOMES & KEY RESULTS
The technology crosses data related to the consumption patterns of a district, data related to the flows of consumers, with constraints pertaining to the profiles of the expected shoppers to best identify potential locations.
The experimentation took place in Paris 19th district.
// PARTNERS INVOLVED
Partners are providing the following data sets: anonymized banking data from 100k individual customer and 10k SMEs, list of retail outlets, typology and lay-out, opening hours/days, number of transactions in outlets. The selected startup – MyTraffic - offers solutions for retails actors, helping them find the ideal location for their point of sale and optimize their client performance. Mytraffic brings valuable data pertaining to pedestrian flows within a district.
// PAIN POINT & OPPORTUNITY
In any district redevelopment program, economic and retail dynamism is key. But for a retail implantation to be successful, it should be installed at the right place at the right time, in order to catter to the needs of local residents and passers-by.
This new tool can help shopkeepers to rationalize their decision making process and therefore reduce the risk of failure. On a large scale, it should support local commercial projects and thus, foster a strong economic dynamic for neighborhoods.