This article is brought to you by Retail Technology Review: Shoe retailer Deichmann supports site selection with Targomo’s Location Intelligence Platform.
Deichmann Group, Europe’s biggest shoe retailer, has chosen Targomo’s technology to support its site selection in Germany. Deichmann will use Targomo’s location intelligence platform to predict the potential of new sites and further improve the performance of existing shops.
The German retailer, which operates in 30 countries with leading chains such as Deichmann, vanHaren and Rack Room Shoes, has selected location analytics platform TargomoLOOP for a pilot project to support its site selection in Germany, where Deichmann operates more than 1,400 stores. TargomoLOOP is an AI-powered platform to analyze a network of locations with numerous location-related statistics.
By combining locations with demographic data and precise travel time calculations, the platform allows companies to more quickly and easily identify sites that are best reachable for as many customers as possible. The project with the Berlin-based tech company will give Deichmann additional insights into its branch network and the advantages of digitally provided location-based retail analytics.
It will support Deichmann in keeping the right balance between the proximity to its customers and running its stores in changing market conditions. Another objective is to support the forecasting of the revenue of potentially new locations and help analyse the profitability of existing sites. To make this possible, Targomo will analyse and bundle many of the variables that impact performance.
By using TargomoLOOP, Deichmann will obtain data-based indications for different performance levels. Combined with on-site expertise, the retailer can analyse realised performance and identify new locations. Ultimately, it hopes to support footfall and conversion rates in its stores, further increasing turnover and profitability of all its store locations.
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