retail outlet planning strategy -...

Retail Outlet Planning Strategy

Begin a plan of action with a clear view

By Nina Machotka


When it comes to planning new retail outlets, it’s all about location. Where are the developing or developed locations and how do you find them? How can you be sure that the property you’re researching is accurately represented geographically and statistically?

Once you do find a location, you need to see everything that’s going on around that location: geographical size of the town or city, population, land conditions, environmental changes, and any other businesses that reside in the area. Once a property looks promising, you need access to data that includes current estimated value, building compliances, street access, parking, and whether the location is zoned for residential or commercial uses.

The question is, how do you access the most up-to-date, relevant information that will enable you to identify the appropriate location for your retail planning strategy?

Most likely you start with maps - probably Google maps - and then turn to Census data to access all the latest information. The problem is, both are out of date.

Image source: Central Park, nearmap

Up-to-date relevant information is critical when planning new retail outlets


Census data and many map images are not current

The last census data report by the Australian Bureau of Statistics was released in 2011. Since they’re on a five-year cycle, the next Census will be released in late 2016. Though the report is rich in population statistics, data analysis, community profiles, families and dwellings, you can imagine how much has changed in four years.

For example, the Census shows the population of New South Wales to be 6.9 million people. A quick Web search shows the population as of 2014 to be 7.5 million. That’s a significant population increase.

Likewise, the report declares a number of areas to be unpopulated, but when you’re able to view current image data, you can see that various areas have been developed and populated dramatically in the last few years.

Image source: Zetland, NSW

Last census data report was

released in 2011.


The following images show Jordan Springs at the time of the last Census in 2011 and a comparative image taken in 2015.

As you can see from these aerial image examples, the most up-to-date information that can be quickly accessed is vital for locating potential property. Think of the time wasted and frustration if you were to begin focusing on an area based on data you thought were current only to discover that the area has already been developed and populated.

Image source: 2015 Jordan Springs, nearmap

Image source: 2011 Jordan Springs, nearmap


Image source: Miranda Google maps (left), Miranda nearmap (right)

The resolution of aerial imagery

provides a level of clarity not available with

satellite imagery

These sample images clearly demonstrate the power of being able to see what’s on the ground in current, real time.

Importance of seeing what’s on the ground now

Aerial maps provide much more current data than census data for seeing what is actually happening on the ground now. However, if that imagery is also out of date, it fares no better than out-dated statistical reports.

The solution is constant capture aerial imagery, which provides you with the most up-to-date detailed information about cities, zoned areas, geographical topography, environmental projects, animal regulated areas, and population. It’s typically better than satellite imagery because the images are captured more frequently and with much more detail, allowing you to track changes within months.


The technology has evolved dramatically for tracking changes over time and providing information that used to require frequent visits either to the site itself or to the various agencies that are involved in property research, both of which are time consuming and costly. With present-day photomapping technologies, you’re able to research, assess, track your retail assets and begin a plan of action for new outlets all from your desktop or mobile device. With more and more comprehensive data delivered via map images, you can perform demographic and economic analyses to better enable informed business decisions.

And finally, when the time does arrive for a site visit, you can access aerial imagery from your mobile device, allowing you to send and receive information between the site and your office in real time. This dramatically reduces the number of site visits and the duration of each visit.

Seeing what’s truly on the ground now allows you to make a business decision based on the most accurate images for your location. Once the decision is made to research a particular location, consider the added advantage of viewing the property’s changes over time.

Image source: Crace Canberra, nearmap

Current and high resolution

aerial imagery saves thousands of dollars

every year.


Property research over time

Another interesting and important task when researching a property is to view the recent history of the location and surrounding land use, to study how it has evolved through environmental changes and regional affects, and to examine previous conditions of the buildings, if any have existed. In addition, examining historical data and tracking population change and movement over time offers factual evidence for future predictions for that particular location, which ultimately leads to better business decisions.

For example, if the potential property is in a sensitive geo-graphical area, such as environmental protection locations, neighborhoods with schools, or near government property, it’s even more important to discover what has taken place in the past and compare it to the current situation.

Image source: Median Age Moorley WA, nearmap


The following images demonstrate how powerful and exciting it is to see what changes have occurred over time.

Image source: Kellywille 2015, nearmap




Viewing a location’s history and tracking the changes to the present day allows you to analyse the lifecycle of the space you’re interested in. You’ll be able to track and compare weather effects, seasonal growth, observe how construction projects evolved, and monitor environmental and population changes.

And finally, to complete your retail planning strategy, you’ll need valuable insights and immediate data access for the particular property that you’re interested in.

Combine current imagery and property data for powerful insights

When you use a combination of current imagery and property location-specific data, searching potential places for your retail business becomes even more advantageous. Valuable data that are interactively attached to map images are at your immediate disposal, giving you access to demographics such as ownership information, parcel lines, tax maps, vacant land and available lots with criteria like building size, lot size, land use, property type, last sold date, and much more.

Interactive maps help you make connections between location and what’s happening all around that location. For example, depending on the type of retail outlet, population flow and income are a key factor for success. We’ve all seen retail outlets fail, not because the company didn’t have great products, but because their location did not cater to the appropriate population.

Frequently updatedhigh-resolution

photomapsreduce the number

of required physical site visits, lower the risks of

business decisions, and make

new business opportunities easily

identified.


Neighbors are another key insight factor for choosing the right property for your particular business. By seeing what other businesses are located around the property you’re researching, you’ll be able to decide if the location is right for you. Without acquiring this knowledge right from the beginning, you run the risk of neighboring with businesses that are either just like yours (too much competition) or so different that the existing population would not gravitate to your business.

To launch a retail property search with confidence, the best practice is to combine the most current imagery and powerful data insights, which gives you the advantage of connecting what you see on the ground with all the important information surrounding the potential location.

Image source: Median Household Earlwood, nearmap

Best practise is to combine

the most current imagery with powerful data

insights


One small company’s successful strategy

No matter the size of your organisation or its function or products, attracting customers will be the key to your success.Aerial imagery and its location data can also find the right customers for your mobile outlets. Read about how one small company changed its retail strategy using up-to-date imagery that located the customers they wanted to attract.

Tasty Fresh Food Co:

Locating the right retail property doesn’t necessarily mean locating a stable position but locating the right customers for your mobile products. Tasty Fresh Food Co was able to do just this. When it went looking for customers, they struggled to find them. Most of their customers are construction site workers and are very hard to track down.

Image source: Tasty Trucks


Tasty Fresh initially looked at Google Maps to find construction sites but found most of the information out of date. “We found that Google Maps would display paddocks and cows rather than the new buildings that we were hoping to call on for new customers,” IT manager, Doug Newnham said.

They then discovered nearmap. It is their first point of call and they always rely on nearmap for up-to-date imagery when identifying new opportunities. One of their sales managers recently said, “I use nearmap, only nearmap. I even use nearmap to see how many cars are parked in a business to assess the potential.”

An added bonus was when they used nearmap to locate newly developed buildings and active business in residence. The occupants have become their long-term customers once the construction is finished.

Image source: Westfield Bondi Junction, nearmap

Tasty Trucks always relly on

up-to-date aerial imagery when

identifyingnew opportunities.


nearmap transforms your retail planning strategy

Up-to-date aerial imagery mapping and its associated location data will guide you to your retail outlet property accurately and more efficiently than out-of-date census data and maps tools. Though the Census will be updated in a year’s time, how many opportunities will you miss if you decide to wait?

The rapid growth in urban development and population far exceeds census data that’s updated every five years, as demonstrated in the examples in this paper. All retail outlet planners should ask themselves if they can afford to wait another year and then five years after that.

Likewise, with Google maps or satellite imagery. If you plan for a retail outlet location with outdated images or images that aren’t sufficiently detailed, your strategy will be impeded and you risk losing new opportunities.

nearmap provides PhotoMaps™ technology which delivers spectacular high-resolution, frequently updated aerial imagery that tracks change across time to deliver the insight you need right now. Your retail planning strategy relies on seeing what’s on the ground now and all the data associated with that location. When you discover nearmap, you’ll see that the advantage is clear.

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