In the fiercely competitive world of retail, staying one step ahead of your competition is essential for success. To effectively navigate the dynamic landscape, you need a deep understanding of your market position, customer behaviors, and areas of potential. You also need timely customer and competitor intel to identify where you’re winning and losing market share, and where you need to step up your marketing efforts. At Buxton, we specialize in customer behavioral analytics. Alert is the key to completely transforming your business, gaining market share, and winning loyal customers.
Uncover Which Brands to Watch
To protect your market share, it's vital to know the brands that are likely to attract your core customers. Through our monthly comprehensive analysis, you can uncover the brands that pose the greatest threat to your business. By identifying exactly which competitors are drawing likely customers away from your locations, you can take proactive measures to retain and win back your ideal customers.
Identifying Locations with High Competitor Impact
Not all locations face the same level of competitive pressure. Our analytics highlight the stores most affected by both direct and indirect competitors. By identifying which of your stores are suffering the most from increasing competition, you can allocate resources effectively and devise targeted strategies to combat the challenges. Our analytics pinpoint the specific stores that require additional support, enabling you to mitigate the impact of competition and ensure your brand’s long-term viability.
Stay Informed on Active, Competitive Markets
To stay ahead, you need to understand greater market trends and dynamics. This is a daunting task for brands with a large, national impact, as each market has its own unique challenges. Fortunately, Buxton has nearly 30 years of market analytics experience.
Alert does the hard work for you, identifying which DMAs have the greatest potential for market change – referred to as Hot Zones. We will keep you up to date on areas attracting significant interest from other organizations who may be looking to open a new storefront. Alert taps into the Buxton analytics portfolio to compare observed new location openings and increased competitor interest. To make informed decisions, it's crucial to stay ahead of your competition and identify the active markets where other brands are also looking to establish their presence.
Furthermore, we identify how many of your locations are in a Hot Zone within its own market, regardless of whether the market as a whole is considered unusually active. By understanding the competitive landscape and market dynamics of these top battlegrounds, you can capitalize on emerging opportunities and devise focused strategies to penetrate these markets successfully. This proactive approach allows you to position your brand strategically, gain market share, and drive growth.
Unveiling the Top Battlegrounds
Finally, we zero in on your top locations facing the stiffest competition from a single, specific competitor location. Additionally, we provide you with informed marketing recommendations based on the three customer segments that saw the greatest decline at these locations. This crucial intel helps you prioritize resources to implement competitive marketing plans.
In the ever-evolving retail industry, having access to actionable insights is paramount to outperforming your competitors and driving business success. By understanding the top brands taking your core customers, leveraging hyper-local store-level insights, identifying stores under competitive pressure, and uncovering active markets, you gain a competitive edge and position your retail business for growth. Empowered with these valuable insights, you can make data-driven decisions, optimize your strategies, and stay ahead of the curve in the dynamic world of retail.
Still not convinced? Connect with us today and see for yourself with a free Alert.