Background
In a world where quality sleep is a luxury, The Sleep Company has been redefining rest through innovation and science-backed solutions. Born from a new mother's realization of the importance of good sleep, The Sleep Company has crafted the world's most comfortable mattresses, expanding its product line to include adaptable beds, comfy chairs, and reliable cushions. After collaborating with Xpert to optimize digital ad spends through its precision audiences, the brand decided to leverage Xpert's location intelligence for offline store expansion & retail strategy.
Challenge Faced
Approaches to store location decisions have traditionally relied on intuition or generalized macroscopic data. The Sleep Company recognized the need for a more definitive data-centric approach to avoid mismatches between store locations and their consumer base - like opening your store in a city’s newest hotspot but later realizing that most of your target customers live miles away at the opposite end. Or selling Baby & Toddler products, with your store in an area being increasingly populated by students and single working professionals.
Retail Strategy via data-backed Locational Insights
Xpert, with transactional data from over 4 million buyers across 726 districts, 18,000+ pincodes, and 120,000+ areas, provides unparalleled location intelligence. Xpert studied and tracked The Sleep Company’s performance potential at district, pincode, and locality levels, identifying points of saturation and growth. It further verified the brand’s existing store locations, classifying the optimal ones against those with low potential. This exercise aids brands’ logical understanding of their store-wise performance. Xpert even offered comparison stats for self-analysis against sector and national averages.
Execution And Outcome
With Xpert’s in depth analysis, they have identified top residential complexes inhabited by their target audience and malls most favorable for new store openings. This data empowers the brand to curate specialized audiences that can drive increased footfalls to specific store locations.Armed with this rich location intelligence ,The Sleep Company can now make informed decisions about store locations, ensuring alignment with its target audience and maximizing the impact of its offline presence.
