What to Look for in a Retail Site Selection Consultant
From The Buxton Co
Hiring a retail site selection consultant is an important decision. Here are five questions to ask as you evaluate candidates.
1. Does their level of support match my needs?
There is a full spectrum of support levels offered by retail site selection consultants today, from self-service to full-service. The right fit depends upon the size, expertise, and bandwidth of your internal team. For many retailers, the purpose of hiring a consultant is to reduce pressure on internal resources, so carefully evaluate the support structure that each retail site selection consultant provides.
2. How advanced is the analysis that they conduct?
Consultants will conduct some form of analysis to help you evaluate potential sites, but the type of analysis may vary. Is the analysis simple “back of the napkin” math based on demographic data that you could do yourself, or does it use advanced statistical methods and datasets that help you understand a site’s potential in more detail?
3. Does the firm have my long-term interests at heart?
Great consultants care more about your long-term success than short term gain. This means they offer unbiased advice and refrain from pushing certain sites that offer them financial benefits. As you evaluate firms, consider whether they own property or are affiliated with a brokerage network.
4. Do they approach site selection from a retailers’ mindset?
The best consultants are often those who have “walked the walk” and know what it’s like to open retail stores. This influences the type of recommendations that they make since they marry data with industry insights.
5. How much experience do they have?
At the end of the day, a consultant’s level of experience is a defining factor in your success. Experienced firms have seen every type of site selection scenario imaginable…and the final results of those decisions. This allows them to provide insights that less experienced consultants cannot.
A great consultant will help you to simplify the retail site selection process, maximize return on investment, and reduce risks. They help you do your work faster and with an improved level of accuracy.
Buxton is the leading customer analytics firm that helps organizations identify who their customers are, where those customers are located, and the value those customers have to the organization.
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