Copyright ©2022 Tango. All rights reserved.
Look Before You Lease: Keys to Site Selection and Renewals
5
Not sure what the points of interest are in your trade area?
There are lots of ways to learn what's popular in town, but
if you want to know where people actually spend their
time, the best method is to use mobile data. By combining
location data f rom cellular providers with GIS software,
Tango Predictive Analytics can show you where the local
population is concentrated. So you can see that one side of
a lake is a hot spot for activity, and the other is a dead zone.
Or that for whatever reason, the local golf course doesn't
generate as much demand as you'd hoped. Maybe the main
point of interest is a competitor!
Points of interest are bound to change over time. So they're
still a valuable consideration for renewals, too. A popular
public place you were counting on for trafc could close,
get rezoned, or change owners. Maybe COVID-19 shuttered
a local theater near you, and now that part of the trade area
has been abandoned. Or perhaps after you leased a location,
a stadium went up right next to a similar facility to the one
you have now.
