Imagine a hypothetical scenario: you’re the leader of a real estate team at a restaurant brand looking to open a new location in Manhattan. You have two options you’re evaluating: one site in Soho, and another site in the Flatiron neighborhood. Which do you choose? Can you make your decision using accurate, fresh and trustworthy data?
In this report, we take a closer look at points of interest and foot traffic patterns in two distinct neighborhoods of New York City (Flatiron vs. Soho) to demonstrate how location data can be leveraged to inform better site selection strategies. For this analysis, we aggregated Census Block Groups into Census Tracts to define and analyze Manhattan’s Soho and Flatiron neighborhoods. By leveraging the new home and work CBG attributes in Visits, we were able to provide a more granular understanding of where consumers live and work to inform business analysis and decisions. This new level of detail allows you to layer Census data such as demographics onto your analysis in order to learn more about visitors to categories, chains, and venues of interest.
Check out the report to learn:
- Which target audiences are visiting each location
- When key demographics are visitng each location
- What the competitive landscape looks like for each location
- And much more!
