Retail audit

Audit of the socio-economic situation in the coverage area of the object and analysis of its prospects, taking into account the urban environment development.

01

Aim

Identification of errors in the concept of the object and correction of the tenants recruitment.

02

Result

A set of recommendations that will allow you to increase the overall object turnover and the landlord profit

03

It will be useful

Shopping center owners

04

Recommended frequency

Once a year

05

A set of possible recommendations

  • tenants replacement;
  • adaptation of the object’s concept to the environment.

Retail audit tasks

  • 01

    Getting a general picture of the object

  • 02

    Competitive environment assessment

  • 03

    Assessment of the object’s prospects in the future (with increased competition and development of the territory)

Retail audit - parameters

01.

Permanent population

Shopping center traffic directly depends on the resident population

02.

Prospects for population growth as a result of new housing construction

New housing construction will provide an increase in the potential visitors number

03.

Demographic density

The higher the population density, the more people can shop in your mall

04.

Average income of the population

Higher incomes will provide your customers with higher purchasing capacity

05.

Points of interest

Having identified the target audience interests, you can adjust the supply in favor of increasing demands

06.

Cost of living accommodations

The higher the cost of accomodation, the higher the income of potential buyers.

07.

Road network and speed, development of other transport infrastructure (underground and other modes of transport)

The wider the transport network and the higher the speed of movement, the more people will be able to pay attention to your object.

08.

Competition

Assessing the competitive environment, you can adjust the concept of the object so that your shopping center attracts more attention

Factor analysis

Demand analysis

Market capacity

Retail audit methods

Transport systems analysis

Analysis of the dynamics and structure of the market

Competitive analysis

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Sources of information for retail audit:

  • data from companies which collecting this information on an ongoing basis
  • questionnaire
  • Federal State Statistics Service data
  • data from the other geomarketing agencies
  • data of general plans of cities
  • data from aggregators selling residential property or engaged in market analysis (CIAN, Avito, irn.ru);
  • open cartographic data
  • field research
And other