Real estate teams gain accurate, lightning-fast results, acknowledge the death of pin studies
TAMPA, Fla., Feb. 22, 2021 /PRNewswire/ — Large, multi-unit brands typically focus expansion around concentrated, “hot” trade areas, but when they fail to calculate sales impact correctly, they risk overcrowding the market and cannibalizing their own sales. That’s an expensive mistake that can quickly take a brand from profits to loss. To help avoid such costly errors, SiteZeus has announced the release of its new A.I.-powered Sales Impact solution, which leverages mobile data and geofencing to empower real estate teams to run unparalleled analyses and help identify where to open their next location in an existing territory.
“Our sales impact methodology includes variables like time of day and day of week, as well as other complex distance measurements. These allow real estate teams to evaluate customer behavior and accurately predict the sales transfer that will shift from an existing site and a proposed location,” said SiteZeus CEO Hannibal Baldwin. “More importantly, Sales Impact provides all that information within seconds, enabling the analysis to be completed in real time.”
Real estate teams at multi-unit brands in the restaurant, retail and other brick-and-mortar business segments can use the SiteZeus Sales Impact solution to:
- Understand impact scenarios
- Determine infill potential
- Maximize revenue per market
- Build proactive fortressing strategies
SiteZeus’ Sales Impact solution goes much deeper than the traditional methods brands have relied upon to measure cannibalization, such as manual pin studies. Pin studies rely on in-person surveys that can take weeks to deliver. They use samples of data instead of studying the entire year, not accounting for seasonal differences. Those less-intricate studies, which fail to predict sales cannibalization accurately, have often cost franchisees their profits.
“Before SiteZeus, pin studies required us to schedule on-site intercepts and wait for results, often weeks or even months per site. Now, getting sales impact studies takes minutes, at most; the difference in speed is night and day,” said Jim Avery, Director of Development at Jack’s Family Restaurants.
Baldwin agreed that SiteZeus’ A.I. platform runs accurate sales impact analyses at game-changing speeds. “We’re excited to empower the best multi-unit brands with this extraordinary solution that will absolutely help them reduce sales impact and maximize revenue in any market,” he said.
To see how leading multi-unit brands leverage SiteZeus’ A.I.-powered Sales Impact solution, interested parties can register for an upcoming webinar that will take place at 1 p.m. ET on March 10. For a custom demo or to learn more about Sales Impact, reach out to firstname.lastname@example.org .
SiteZeus is a predictive modeling platform that helps multi-unit brands make confident and accurate location-based decisions. Brands leverage the A.I.-powered platform to make data-driven decisions to solve for infill expansion, greenfield growth, remodel analysis, relocation analysis and closure analysis. For more information about how SiteZeus’ A.I. platform can help your company grow, contact email@example.com.