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loculChoices
loculChoices is our predictive model of consumer behaviour. It predicts the distribution of visits to retail destinations we expect from consumers based on where they live and work.
The purpose of loculChoices is twofold. First, it provides a benchmark of expectations against which we can compare actual customer behaviour from loculWays to assess the performance of retail destinations. Second, it offers a cost-effective and data-light approach to understand the reach and competitive influences of each retail destination before applying loculWays to analyse high-potential locations in-depth. This is particularly beneficial for developers seeking high-potential greenfield sites or retailers planning their store networks.
loculChoices considers a range of factors that will influence a consumer’s decision making about where to shop, including: 1) the purpose of a visit, such as convenience, versus discretionary, lifestyle or bulky goods; 2) the size of the offer at each retail destination; 3) type of retail destination, i.e. if its a supermarket, neighbourhood shopping centre, super regional mall, or other; 4) the complementary influence of adjacent retail destinations, and; 5) travel time and accessibility of each retail destination.
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