Location analytics are a critical factor in driving strategic growth for retail brands. As tenants become more sophisticated in the use of data to inform real estate decision-making, having an analytics platform that can serve as the foundation for creation of location-based insights is more important than ever before.
One retailer that has embraced the use of location analytics is Advance Auto Parts, a leading automotive aftermarket parts provider that serves both professional installer and do-it-yourself customers. The company operates nearly 4,300 stores in the U.S., Puerto Rico, and the U.S. Virgin Islands. This article highlights comments from Brad Farrar, Advance Auto’s director of real estate development, on his team’s use of Intalytics’ SiteIntel platform to leverage their custom forecasting model when evaluating real estate opportunities.
How has SiteIntel made your job more efficient?
The ability to have all the necessary data in the mapping platform allows our team to better understand the market we are reviewing. Being able to share the same data with our cross-functional teams saves time engaging in one-off mapping projects.
What feature(s) in SiteIntel do you use the most?
The tri-view feature has always been important. With the travel restrictions related to COVID, being able to view sites via tri-view has been invaluable.
From a strategic standpoint, how is SiteIntel helping to guide real estate expansion, relocations, and closures?
SiteIntel allows for dynamic analysis of both the trade area and the specific site characteristics which are pertinent to our strategy.
What role does SiteIntel play in your team's analytics process?
The Advance Auto Parts forecasting model is embedded in SiteIntel, allowing our team to understand the revenue potential of a site under consideration.
What role does SiteIntel play in the real estate committee review process?
Each Real Estate Committee (REC) packet has multiple maps from SiteIntel to provide context for the deal that is being evaluated.
Interested in learning more about putting SiteIntel for your company? Contact us for a demo of the platform.