A market analyst could use this app as a starting point for any type of analog sales forecasting approach.
The app will classify the potential site and existing locations based on their 3 mile population density (Urbanicity Classifications: Urban, Suburban, Exurban, Rural). Based on these classifications the module will create drive-time trade areas and append the corresponding demographic variables.
The app will then attempt to find stores within a user-defined radius of the site that match in terms of Urbanicity. A supplemental output report will illustrate a map of the potential site and highlight all comparable stores that fit within the defined parameters. A map of the site’s drive-time trade area is also included. The report also includes a table that displays trade area demographics for the site and sister stores. This table will also highlight comparable characteristics between the potential site and the analog stores.
