2X eCommerce Podcast artwork

EP 63: A Data Driven Approach for Selecting Brick & Mortar or Pop-up Retail Store Locations w/ IdealSpot’s Bryan Eisenberg

2X eCommerce Podcast · with Bryan Eisenberg · February 9, 2016 · 54 min

Summary

For ecommerce brands considering brick-and-mortar or pop-up expansion, this episode with IdealSpot's Bryan Eisenberg is a must-listen. Learn how data-driven machine learning, analyzing over 15,000 data points from demographics to traffic, can de-risk location selection and significantly increase your chances of success in the physical retail world.

Key takeaways

Themes

data-driven decision makinglocation strategymarket researchretail analytics

Topics covered

brick and mortar expansiondemographic analysisgeospatial data analysismachine learning in retailpop-up shopsrisk mitigation in retail

Episode description

Bryan Eisenberg is the Founder & CMO of Ideal Spot - a web-based, commercial real-estate mapping and analysis suite. IdealSpot helps retailers find their ideal retail location utilizing machine learning algorithms akin to retail location data analysis experts.   Its machine learning algorithms utilizes deep learning analysis of over 15,000 data points such as demographics, psychographic, search, social, mobile, competitive, and traffic metrics for every location in a bit to significantly reduce the risks retailers face when choosing retail locations.     Bryan is a recognised authority and pioneer in ecommerce, UX, online customer experiences and conversation rate. Bryan has worked with companies such as HP and Intel as well as is on the advisory board of several successful start-ups. He is 2-time best-selling New York Times and Wall Street Journal Author of the books: “Call to Action” and "Waiting for Your Cat to Bark" He a world leading and respected digital marketing expert.   Message from Our Sponsors: This episode is brought to you by Salsify. As an online retailer or supplier, you are well aware that ACCURATE PRODUCT CONTENT drives more sales...However, as your store starts to scale the harsh reality is that maintaining product description content becomes more and more of a challenge to ecommerce teams.Enter Salsify...Salsify is a SaaS based product content management platform built specifically for online retailers and brand owners.I recently took Salsify on a test drive and here are the glaring advantages etailers stand to gain:- Your entire product catalog can be accessed by any department in a centralised hub,- There’s a workflow setup that ensures no fields go amiss when product data is published to multiple channels such as Amazon, your Google Merchant account or just directly to your ecommerce store- Salsify tells you when it spots missing critical fields across your product catalogIt is really a modern, flexible and robust product management p

Frequently asked about this episode

What does this episode say about data-driven decision making?
Leverage machine learning algorithms to analyze vast datasets (demographics, psychographics, search, social, mobile, competitive, traffic) for optimal retail location scouting.
What does this episode say about location strategy?
Prioritize data-driven decision-making over pure intuition when choosing physical store locations to mitigate significant financial risks.
What does this episode say about market research?
Understand that successful brick-and-mortar presence, even temporarily with pop-ups, requires the same rigorous data analysis as online strategies.
What does this episode say about retail analytics?
Utilize tools like IdealSpot to centralize and analyze diverse data points, moving beyond basic demographic checks to comprehensive market understanding.

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