Retail Business Ownerssh
Retail Business Owners
Co-produced with Knight Frank Research, SmartHub, the analytics arm of StarHub and Teralytics, analysis by Knight Frank, this report presents insights on how big data can empower decision making process and adjustments to suit customer needs.
In the competitive retail segment, rentals make up a significant portion of the overall cost of operations. Thus, choosing the location of your next retail outlet is a careful decision that could potentially make or break your business. Traditional metrics like visitorship is still relevant but with the evolution of big data, retails have much richer sets of data which could empower their decision-making process, and also help them make tactical adjustments based on measurement of consumer behavior.
In this research report, we take a look at 2 growing suburban areas – Jurong and Tampines, and see how each cluster fare in terms of visitor patterns, daily patronage and dwelling time, and also uncover interesting patterns such as where their visitors reside at.