Micromarketing: Location data to better serve your customers – Part 1 of 2

November 30th, 2011 by shazeeye

Identifying magnet stores, traffic, customer demographics and trade areas for the new store location: The software helps to draw the trade area for the new store location (for this example a 5 minute radius as seen in black) and can identify the magnet stores or stores that will help pull traffic (for example, drug stores). It computes traffic – 32,800 cars/day. It also helps define the type of people in the trade area. Types of people are defined by PRIZM clusters (for details check PRIZM Clusters) and gives you demographics and characteristics of the population you are likely going to attract. According to the report this store will attract 54% of people belonging to the PRIZM cluster defined as White-collar Suburbia. This group can be described as “upscale, college-educated baby boomers living in suburban comfort in expensive new subdivisions”. For more details on this segment visit Experian’s description. Now that you have such a wealth of information on your customers you can tailor your marketing message as well as grocery needs to better suit them.