Retail Expansion Strategy – Natural Foods Chain
Client: Earth Fare Natural Foods
Location: Across Multiple States, Eastern U.S.
Earth Fare is the second largest natural foods store chain in the country, with over 30 stores located in ten states east of the Mississippi River. Recently, Earth Fare became interested in growing their business by looking for opportunities to site new storefronts in the various states in which they currently operate. As part of their retail expansion strategy, Earth Fare was in need of a team capable of assisting them with market planning across more than a dozen states. Luckily, Earth Fare found us!
Our work focused specifically on helping Earth Fare understand their existing customer base, the trade areas encompassed by their current stores, their competitors and the potential for market leakage, and opportunities to site new stores, down to the identification of parcels suitable for new storefronts.
To accomplish to this, we crunched an array of relevant data, including demographic and socioeconomic variables, land use, transportation and drive-time variables, competitor locations and their estimated trade areas, and complementary businesses relevant to Earth Fare’s retail expansion strategy. Our work has resulted in not only providing a basis of understanding to Earth Fare about who their customers are and how far they’re willing to travel to a given store, but also the identification of a number of potential store sites for future expansion.