Hear from clients we have worked with and learn about how we assisted their business
Current projections are that over 5,000 retail locations will close and over 3,000 retail locations will open in 2017 alone. As the retail sector becomes more omnichannel, and consumers become more fast-fashion and deal-oriented, retailers are carefully examining where to close stores, where and how to open new stores, and the best customer retention and acquisition strategies surrounding this network optimization.
As retailers are often not fully equipped to make analytically rigorous decisions based on a holistic, cross-functional view of the store network and marketing actions, Mastercard Advisors’ new solution solves this challenge with proprietary data insights and advanced analytics using a step by step process.
As retailers look to optimize their store footprints, they must answer key questions, including:
- Identifying the Optimal Stores to Close: What are the top candidates for store closures in each market, based on total channel and network profitability?
- Pinpointing the Best Locations for New Stores: Which new store locations offer the largest opportunities in terms of sales, customer acquisition, and total channel profitability?
- Retaining Customers After Own Store Closings: Which customer segments do store closures impact most, and how can we best retain them via campaigns, other store visits, and omnichannel purchases?
- Acquiring Customers after Competitor Closings: How can we better understand competitor actions and the types of messages with which to reach high-value customer segments who previously shopped with competitors?
- Determining the Optimal Store Design: Based on past openings and unique market insights, what is the best concept, format, channel, and category mix for each store?