A trade area is the geographic area from which a store draws its customers. A retailer must constantly monitor changes in the population and the competition surrounding the store and adapt to these changes. A trade area contains primary, secondary and fringe segments. The most important characteristics of a trade area are population features, income level of the neighborhood, labor force and employment, household buying power, dwelling structure and consumer lifestyles. Trade area analysis can help you to determine whether your business strategy matches the needs and lifestyles of consumers. It can reveal the market opportunities that exist and the retail strategy necessary for success.
Manifold Data Mining Inc. provides you comprehensive knowledge about your existing and prospect trade areas. Based on the extent of your neighborhood coverage requirements, e.g., 5KM or 10KM from your chosen site, we provide you a comprehensive analysis, including market potential, competitive analysis, demographic report on proportion of ethnic groups, the average household income, household size, average house value and consumer expenditure and behavior information.
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