An IT solutions and services company providing services to their client based in the CPG category wanted to expand their business in specific cities in the APAC, Middle East, and South America region.
They wanted to identify restaurants and the POIs in these cities which would be their channel for product distribution. These restaurants and POIs would be identified on the basis of multiple factors like the demography of the population, competition, weather conditions, and other critical POI data that would help them decide if the location would be lucrative for their business.
With many factors to monitor, analyze, and strategize decisions based on location analytics, it was getting difficult for them to do this in-house. This is when they came across Xtract.io location intelligence solutions and decided to implement it for their business.
The following were the depth of data and analytics the customer required help with
They wanted to have a thorough understanding of the competition within the boundary and influence of attraction that would directly affect their sales. The analysis would further drill down to the nature of the restaurant (take-home/ dine-in/ cloud kitchen) and the distance of influencers from their location. They also wanted to analyze the weather conditions in the location to be able to decide if selling their product in that area would be profitable as the product was season-sensitive.
The research they were looking to conduct was quite extensive as they wanted to thoroughly analyze factors that may directly or indirectly affect their business. They wanted to make a well-calculated expansion strategy that was majorly supported by location intelligence.
The location intelligence experts at Xtract.io analyzed the challenges and implemented a step-by-step solution.
There were several influencer categories that were required to be identified and analyzed
The distance between the restaurant and POI was required to be calculated.
Apart from POI data, other information like area demographics, restaurant data, and event happenings were required to be analyzed for further hypotheses.
The customer was able to successfully penetrate into Asian markets with Xtract.io’s location intelligence solution
The target market share was achieved well before the target date. For each city, the data and insights were delivered in 2 weeks
We helped the customer achieve a significant growth rate
The revenue through the sale of the product in the new markets was remarkably higher compared to the sale of the same product in existing markets
Better product placement helped create superior brand awareness and brand personality among customers, compared to competitor products