A store-profile database is an invaluable source of information which helps making strategic decisions such as selecting a new retail location, closing (investing in) under-performing (well-performing) stores/s, and choosing the type of stores (i.e. drive-thru or not, Category A or C…etc.) to open in each market. However, retailers across the globe unwillingly give up this invaluable information about the performance of their store/s in relation to the market, competition, and/or consumer. Reasons forcing retailers to do so include:
- the long time required to develop a store-profile database;
- the lack of related expertise and skills; and
- the high rates data analysts and experts charge.
NeoRetailing provides the expertise and skills at reduced costs and offers retailers the opportunity to either obtain pre-developed store-profile databases or develop their own customized store-profile database.