FSP was commissioned to assist with the search for an optimal location for a new flagship store, by providing insight into suitable London sub-markets.
In order to strengthen its retail presence and grow brand-awareness in the UK, the client sought to establish a network of company stores, including a flagship ‘Experience’ store in London. The aim of this Experience store was to promote the brand’s wider range of lifestyle footwear and apparel, as well as celebrate its heritage of producing quality shoes for sport.
What We Did
Customer Insight: FSP segmented and quantified customer demand using our unique FISH categorisation system. We gave detailed insight into key performance influencing factors including catchment populations and customer demographics. Understanding the catchment profiles and consumer Lifestages was imperative for pinpointing ideal store locations
Location Selection: FSP identified key trading streets including competitor locations, existing channels of distribution and sub markets. FSP provided street summaries identifying important KPIs suited specifically for the client
Benchmarking: FSP identified, by location, areas of competition from sports retailers and footwear retailers and provided turnover and density estimations to help grade the opportunity for the client. Other data provided included: number or stores, FISH and price positioning, Zone A rental levels, estimated floor space, nearby tube stations, and breakdown of residents, workers and tourists
FSP submitted a list of recommendations based on the insights provided. The client was keen to follow and apply our insight into their roadmap strategy prior to instruction on a new store in London.