In a recent podcast interview, Mickael Mas, the Founder and CEO of Symaps.io, discussed the numerous benefits of using geomarketing and artificial intelligence (AI) in the fashion industry. Symaps.io is a powerful platform that specializes in geomarketing and geolocation, helping fashion brands make informed decisions regarding their store locations through the use of data analysis.
Mas co-founded Symaps.io in 2017 with the intention of creating a platform that collects valuable data related to specific addresses. This data encompasses various factors, such as nearby brands, local population demographics, and the likelihood of customers visiting a shop based on factors like income and education level. By leveraging AI and machine learning algorithms, the platform helps fashion brands identify growth opportunities, select optimal locations within a city, and optimize their physical store coverage.
One of the challenges faced by retailers when it comes to store location selection is the complexity involved in analyzing multiple variables and comparing different locations. This is where Symaps.io comes in, simplifying the entire process by providing brands with comprehensive data and scores for each potential location. Mas emphasizes the significance of conducting precise market analysis and considering the local environment in order to ensure high footfall and visibility for fashion brands.
Mas also sheds light on the impact of specific factors, such as the side of the street where a store is located, on foot traffic and negotiation power for brands. For instance, the amount of foot traffic can greatly differ between odd and even-numbered sides of a street, making it crucial for brands to consider this aspect when deciding on a location and negotiating their leases.
Furthermore, Mas points out that this level of detailed analysis is particularly relevant for luxury boutiques located in concentrated areas such as the Golden Triangle in Paris or Fifth Avenue in Manhattan. Depending on which side of the street a store is positioned, there can be significant discrepancies in foot traffic and customer demographics.
Through the utilization of AI and machine learning, Symaps.io empowers fashion brands to make well-informed, data-driven decisions when it comes to selecting the perfect store location. The platform’s ability to process vast amounts of global data and zoom in on specific streets and even buildings provides brands with invaluable insights to drive their business growth. By harnessing the power of geomarketing and AI, fashion brands can optimize their physical store network and gain a competitive advantage in the market.
To learn more about the benefits of geomarketing and AI in the fashion industry, you can listen to the LuxurynsightXFashionNetwork podcast episode featuring Mickael Mas here: [insert link]. You can also visit the Symaps.io website for further information on their innovative geomarketing and geolocation platform: [insert link].
