3 . ANALYZING THE COMPETITIVE MARKET Similarly , a thorough understanding of a retailer ’ s competition , especially the habits and interests of their customers , can provide developers with a competitive edge . Knowing how competitors are moving gives CRE property managers the knowledge to help prospective lessees understand how they could be impacted by competitors . For example , a major competitor might be trying to acquire its own customers with a new marketing campaign or fresh product . An analysis of the competitive market can result in a proactive campaign to help counteract the competition ’ s overall strategy .
4 . GO WHERE THE PEOPLE ARE Location intelligence can also help identify and predict movement patterns . By determining the places that people frequent or where they are permanently relocating to , CRE owners and managers can determine which areas of the country make for smart investments by retailers . To understand the movement patterns of the Great Relocation , we looked at the counties that gained and lost the most population since the beginning of the pandemic .
The 10 counties that gained the most population since the start of the pandemic are :
For commercial real estate property owners looking to build their portfolios , identifying markets ripe for investment through data-driven analytics is a smart strategy .
1 . Kent County , R . I . 2 . Worcester County , Mass . 3 . Canyon County , Idaho 4 . Cheshire County , N . H . 5 . Ocean County , N . J . 6 . Kent County , Del . 7 . Utah County , Utah 8 . Kennebec County , Maine 9 . Washington County , Utah 10 . Cass County , N . D .
The 10 counties that lost the most population since the start of the pandemic are : 1 . Cook County , Ill . 2 . King County , Wash .
3 . Los Angeles County , Calif . 4 . Chittenden County , Vt . 5 . Johnson County , Kan . 6 . Cumberland County , Maine 7 . Providence County , R . I . 8 . Suffolk County , Mass . 9 . Fairfield County , Conn . 10 . Multnomah County , Ore .
For commercial real estate property owners looking to build their portfolios , identifying markets ripe for investment through data-driven analytics is a smart strategy . For retailers looking to establish or expand their businesses , the same insight can indicate whether a site is likely to succeed or serve as a warning sign . Intelligently using data can improve any decision-making process .
Overall , location intelligence can help with all facets of commercial real estate . This data can help CRE professionals compare potential sites , match clients to the right location , and understand consumer activity . Such information increases a CRE property owner ’ s or manager ’ s chances of matching the right site with the right lessee and meeting the needs of residents and visitors , resulting in better outcomes for all .
Jeff White Founder and CEO at Gravy Analytics
Contact him at press @ gravyanalytics . com .
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