How to do a good business circle investigation when opening a shop?

The location of the store begins with the investigation of the business circle.

When choosing a store location, we must first understand the concept of "business circle". Due to the influence of consumption habits, market traditions, transportation distance and other factors, the market (city) in the close area often forms a specific business circle. Business districts are usually made up of different types of shops. CYCHN.NET believes that a specific business circle usually consists of core area, middle area and peripheral area. Different shops that are often very close to each other have huge differences in passenger flow, which directly affects the business of the shops.

Market research on the choice of business circle and store

Generally speaking, the setting, scope and inspection of business circle must be carefully considered before opening a shop. Store operators should conduct market research from the following four basic aspects if they want to improve their operating efficiency and store income:

① Consumer survey in this area: The specific contents include population structure, family number, family members, income level, consumption level, etc.

② Survey of consumer activity space: It includes the collection of urban functions such as transportation facilities, road network, bus rapid transit system, government agencies, non-government facilities and urban future planning.

③ Investigation on the trend and change of consumer consciousness: Consumers' cognitive ability and love for products can often change the whole consumption pattern, so the change of consumer consciousness is also the focus of market research.

④ In the functional combination of the whole city, it actually reflects the investigation of consumer action consumption results. For example, the sales performance of the retail industry, the types, combinations and proportions of various formats, and the trend of large-scale stores.