Market Intelligence isn’t always clever. Turnover data is rarer than hen’s teeth and often misinterpreted, market size estimates can be confused by inaccurate catchments or overly simplified expenditure models and retail stock data can be misleading due to inappropriate definitions and lack of coverage. As a result, seasoned retailers rightly have a healthy suspicion of data, FSP applies a heavy dose of ‘common sense’ to market intelligence by ensuring the most robust source statistics for the particular Client, working with best in class suppliers and reviewing outputs against trading experience and commercial judgment.
Location Strategy
Locating retail outlets to maximise sales and profitability is a fundamental decision for all retailers. The cost implications of site errors can be enormous and are usually long-term due to the typical structure of UK leases.
FSP ensures your locations work hard for you by combining over 100 years of collective retail experience with the best data sets and analysis techniques. Both established and start-up retailers benefit from the location planning service, which identifies concentrations of target shoppers and draws up optimal location strategies. Techniques appropriate to retailers with hundreds of stores are very different from those that work best for smaller retailers, but FSP understands that, to supply robust results, both require a combination of data analysis and retail insight.
FSP has used these techniques to prioritise retail development opportunities for many clients, identifying not only the best location but also the nature and strength of likely competition. Use of performance, profitability and affordable rent models on potential sites highlights the level of rent and other costs which are sustainable within the anticipated turnover range.
With an in-depth insight into the retail market place, FSP is uniquely placed to provide essential support during the location planning process. Click here to contact FSP.