Answer All Questions for Victoria’s Secret
Get Out and Do Assignment # 3–Chapter # 8-Retail Locations
STEP # 1 Watch the video “What is GIS” https://www.youtube.com/watch?v=6AlH5TvFoLw
STEP # 2 Select 3 different zip codes in existing regions of the U.S. for your selected retailer.
STEP # 3 Go to www.census.gov and look up zip codes to find demographic information about your selected store locations.
STEPS 3A; 3B and 3C Visit the PRIZM web site and complete the research as specified in class.
STEP # 4 Go to www.esri.com/library/fliers/pdfs/tapestry_segmentation.pdf to look for zip code locations in a major mall location.
Answer the following questions:
1. What are the demographic characteristics of each zip code? How are they similar and how are they different?
2. What are the psychographic characteristics of each zip code? How are they similar and how are they different?
3. Compare these characteristics with your store’s stated target customer to determine if these locations are appropriate. Which location would be most profitable, and why?
3A. Most affluent zip codes (report on segment identifier)
3B. Least affluent zip codes (report on segment identifier)
3C. You own personal zip code (report on segment identifier)
4. With the increased focus on Omni-channel retailing, how can this data help retailers present a seamless and consistent experience, select locations and plan their retail strategy to better meet customer needs and wants.
5. How will this information help retailers react to global expansion issues such as internet competition, multiple retail selling cultures, distribution logistics and global communication
6. Retail trends are being shaped by the disruptive changes taking place in the retail environment today, mobility, faster retailing, experience retailing and innovative retailing. How can retailers use this data to remain relevant in today’s competitive retail climate?