Wednesday, July 1, 2009

Map Out Your Recovery Plan

While the economy flounders and retailers and consumers alike anticipate a hoped-for recovery (Is it 2010 yet?), site selection analysts are mapping ways to make the recovery happen. Their data-driven approach provides retailers with specific localized information to anticipate and respond proactively to changes in today's troubled marketplace.

"Site selection analysis is a survival strategy for retailers in this economy," said Devon Wolfe, Pitney Bowes Business Insight (PBBI) managing director, Americas strategy and analytics services. "There's a very intense need to study markets at a local level and really understand which markets make sense for which retailers and which ones don't."

Geographic information systems (GIS) — the hardware and software tools of site selection pros — analyze up-to-date, local macroeconomic indicators to help retailers improve the accuracy of retail sales projections and the efficiency of their store or store network.

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