Smart Growth: Boosting Store Expansion with AI and Data Insights

The growing relevance of Artificial Intelligence (AI) and Data Analytics in retail is undeniable. Beyond the predictable applications in areas such as Category Management, Customer Experience, and Supply Chain Optimization, these technologies also add value in less obvious domains, such as Store Expansion.

📱 Strategic use of cellphone data, foot-traffic data, and other location analytics allows retailers to pinpoint locations that maximize profitability with greater precision.

🛒 As a result, retailers can track how many shoppers visit a mall or street location each day, at what times, for how long, where they shop, and how frequently they return each year.

🎯 By combining this data with insights from their own databases, including online order shipping addresses, retailers gain a more accurate characterization of potential customers.

👉 For further insights on this topic, I recommend reading the following article from the Wall Street Journal: Location (Data) Is Everything for Retailers Opening Stores — WSJ