In the competitive fast-food industry, strategic expansion is vital.
In September 2023, our team partnered with a chicken shop chain with ambitious UK expansion plans for 2024. The key question: “Where is the best area to open a new store?”
Analyzing Competition and Traffic
We started with an analysis of competing outlets in regions, cities, and specific areas, our goal was to identify low-penetration zones. This laid the groundwork for our client’s expansion strategy, focusing on these areas. This initial phase seamlessly transitioned into an in-depth exploration of industry-wide customer traffic, extending nationwide.
From Top 10 Sites to Customer Footfall
Selecting the top 10 sites with emergent potential, we meticulously compared customer footfall per outlet in each city. Instead of avoiding competitor locations, our primary goal was to find new store locations with optimal foot traffic. This delicate balance between competitor locations and footfall traffic became our guiding compass, leading us to the most promising locations.
Street-Level Intelligence and Real-Time Tracking
Transitioning to the next step of our analysis, we delved into the minutiae—examining traffic on specific streets and evaluating competitor penetration in each location. With comprehensive data in hand, the client received a detailed map, enabling real-time tracking of customer traffic. This granular level of information provided pinpoint precision for decision-making.
A Comprehensive Research Report
In this comprehensive research report, we offer only a glimpse of the extensive research conducted for our client. Throughout our pursuit of delivering top-quality data, our in-depth exploration of competitors’ activities and customer service has provided our partner with a comprehensive, insightful view crucial for informed decision-making.
Meaningful Vision Location Intelligence
At the heart of Meaningful Vision is our innovative Location Intelligence platform—a tool designed to provide the most accurate information on competitors’ store locations and traffic, empowers us to conduct deep dives on a granular level for each location. By tailoring a competition list to specific requirements, this tool goes beyond mere data; it’s a means of empowering our partners with the insights necessary to successfully compete for their share in a crowded marketplace.
Lets book a call and talk about your plans for the next year.
