Diamond Announces New Retailer Tool: Market Analysis Reports & Maps
At last year’s Retailer Summit, Diamond shared with retailers at its retailer roundtable a new online tool called Retail Market Analysis Program (RMAP). The application is now live and available to help retailers evaluate the best potential location for a store.
“This new tool is designed to help our customers determine an ideal retail site location for a new store, or for an expansion of their existing business,” said Diamond Vice President of Retailer Services Chris Powell. “This application, combined with our expansion incentive program, should make it easier than ever for retailers to grow their businesses.”
Current Diamond retailers are encouraged to visit the Diamond Retailer Services website and sign up for these services on the Diamond Tools page. Potential accounts can speak with Diamond's New Accounts team to run a query that can help determine the best location for their new store.
There are two components to the RMAP: Reports and Maps.
Reports consist of:
• Market Profile. This includes: population data for 2014 and growth rate over 5 years; household summaries; household units in the selected area; median income; home values and ages; household income breakdowns; population data by age, race, and ethnicity; employed population rates and breakdowns and more.
• Retail Goods and Services Expenditures. This report evaluates the potential spending of the selected area on an index and provides the average dollars spent on various expenditures in various categories including: apparel; computers, entertainment and recreation; food; household furnishings; insurance; transportation; travel; and much more.
• Retail Market Potential. This report breaks down consumer behavior over the past 6-12 months over a variety of expenditures to show how many people in the chosen area have exhibited that behavior, i.e. the number of adults or households that “Have an iPhone” and “Read a newspaper.”
• Major Shopping Centers. This list provides the addresses of the major shopping centers within the ZIP code of the selected area, with the square footage available at the time each center was built, whether or not they are enclosed, and what their anchor stores are.
• Household Budget Expenditures This report is a breakdown of the average amount spent on items in the budget of households in the selected area, such as housing, transportation, entertainment, healthcare, etc.
The Map gives retailers a review of a site location:
Map gives a custom web-based page that is created according to retailer preferences, and displays three types of businesses that would be ideal for the selected area, or types of stores you would wish to be near.
The tutorial video below shows how map feature work.
