Competition Assessment
What impact do your competitors have upon your sales? Which ones affect you the most? Which ones create synergy with you? Are your competitors national, regional or local banners, or are they independent operations?
Indicia works relentlessly to create its own records of competitors, knowing that no supplier succeeds in delivering their product perfectly right and up to date. We use our own technology to capture data from the Internet and create and geoposition our own records on competitors.
We build comprehensive records on competitors that include their annual sales, the number of years in business, the number of employees, their credit scores, the distance from your nearest store, etc. Where applicable, Indicia may also add to such a record on competitors the types of products represented or distributed by them using our proprietary Webspy methodology.
We then evaluate by means of statistical correlations and various distance calculations the phenomenon of positive cohabitation or the negative impact of competitors upon your sales. Also, the presence and combined sales of competitors compared to the local market can help determine whether a commercial zone is in a state of “leakage” or is acting as a “magnet” and reaching outside of its primary trade area.
This map illustrates the error associated with the geopositionning of points in space. The limit of the trade is a function of the size of the street segment and the span of the begin / end civic numbers.
