ScoreMyLocation.com

Frequently Asked Questions


This is a free tool for large and small retailers. It allows you to grade any retail location you are considering by comparing it to other, existing locations for retailers in your category.

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FAQ

  • How is it possible to develop technology to evaluate any retail location?
    It's a big challenge. Working at TheRetailPlanet.com we created a national database of all retail locations and collected location data for 3,000 US retail chains and 50,000 shopping centers. We then took the knowledge based on constructing 200 forecasting systems for chain retailers and developed a logical/statistical model for every kind of retail. To do this we looked at 800,000 actual retail locations and validated the models we created for each kind of retail. The final system works very well and has been used by hundreds of retail brokers since 2010. Now we are turning it on for retailers.
  • Who has used this technology to evaluate retail sites?
    The original platform was developed for Nielsen in 2011. Since that time over 400 retailer brokers and property owners have used the platform and many have annual subscriptions to use the very sophisticated products offered by TheRetailPlanet.com. Over 100,000 locations have been evaluated using this technology.
  • I am part of the real estate team for a chain retailer and we have our own analytics department. Why should I be interested in this tool?
    If you are fortunate to have a good analytics group helping you that is great! What we have learned is that even some very large retail chains do not offer their field teams, who have to visit markets and evaluate locations, the tools they need to do this efficiently. ScoreMyLocation.com and TheRetailPlanet.com offer revolutionary new, online technology that supports decision-making in real time.
  • I am a small retailer just opening my first store. How can you possibly help me?
    It has taken many years of development but thanks to our latest technical breakthroughs it is now possible to build a complete forecasting system for your specific retail concept in less than a minute. We do this by taking information from retailers that are similar to your concept and then applying this to you. The first step in using ScoreMyLocation.com is to define your concept. We use this intelligence to construct a location evaluation model that works just for you.
  • When you give me a grade of A or B what is that based on? How can I have confidence that the grade is meaningful for me?
    Let's assume that you have a new burger concept and you have just looked at a proposed location and the grade you see in ScoreMyLocation.com is a C. How did we get the C grade? Well, we looked at 51,456 other burger locations in the US and compared them to your location on key factors such as Synergistic Retailers nearby that might support you, Daytime Activity that will feed you customers and the Customer Potential of people living in the trade area around your store. We learned that compared to all burger locations the one you selected is in the bottom 40%. That is why you got a C.