Kirkland's Home - Using Artificial Intelligence To Identify Best Store Locations

By Experian Business Solutions

Analyzing potential retail locations to determine which could be most successful is one of the first steps taken when opening a new store. While there are any number of retail properties available, choosing the ideal location for a specific concept is highly complex, especially when the store represents a major departure from the existing store network.

By implementing Prediction, Experian Business Strategies' best practice approach to researching and modeling retail performance, Kirkland's executives are able to more accurately select store locations and predict future sales.

Prediction has a retail real estate database that contains information on every household, business, retailer and shopping center in the country. Using this database as a starting point, Experian conducted research on Kirkland's retail world, including site characteristics for each existing location, store sales, performance over time, and customer data.