As a retailer, you want to optimize your store network. When you receive an offer for a location, you often have to decide quickly. But even if you are considering closing or relocating a shop, you want to know what the consequences may be:
- To what extent is cannibalization an issue, and how does this change with relocation?
- Will other branches benefit from the closure of this store?
- Which postcode areas will generate new sales?
- What effect will the changes have on your total store network?
IRIS (Interactive Retail Intelligence Scout) makes use of software that quickly calculates such complex questions for you. With this data, you are able to make the right decisions about your ideal location.
Roadmap Turnover Forecast IRIS
The tool IRIS is tailored to your retail sector
Own stores/dealers + competition + perfect neighbors
+ turnover (yours and/or your industry)
Effortlessly create a new situation (scenario) on the map
You can virtually open a new store / increase the floor space / close a store etc.
– by simply clicking on the map
IRIS recalculates the new scenario
In about 3 minutes all calculations are executed for you.
Outcome: the turnover forecast for the new situation
What effect do the changes in your scenario have on the existing stores and what turnover can the new store achieve?
Why choose IRIS?
- Turnover estimates of all existing stores in your sector in the Netherlands
Benchmark performance of your own portfolio - Detection of the most promising openings
More sales per store, less risk of costly closure - Impact of a new opening (or closure) on existing store(s)
Is there cannibalization, what is the impact on competition? - Calculating relocation scenarios
Run multiple scenarios: relocate a store or take over a competitor - High performance: millions of calculations per run
Results within 3 minutes - Flexibility: bespoke model per industry per retail chain
Delivery possible within 4 weeks - Model is open and transparent
No black box, formulas and parameters visible
