High-frequency retail tourism insights

Retail tourism is a very broad category, spanning everything from the corner coffee shop to Wyndham Hotel Group. It includes bars and nightclubs, fast food and five-star restaurants, galleries and museums, air- and cruise lines, souvenir and fashion stores, and event and tour organizers. None have access to daily performance indicators that reveal what their market share is compared to comparable businesses, how their sales correlate to other types of businesses and what external factors are affecting the entire region. What does not exist today is this:

The dashboard, starting on upper left chart and ending on lower right, shows total food and beverage sales of all participating businesses that provide those items in addition to your market share (in this case a restaurant) followed by current market age segmentation. The last chart in the upper row compares the average number of tourists over the past 12 months (daily total is naturally available) against total hamburger consumption and your share of that.

The chart bottom left tracks gender composition (in this case yours instead of the market total) and can be broken down in detail. The center chart shows how the EUR/USD exchange rate and temperature correlate against total sales in your region (you can just as easily correlate that against your own sales or any other internal metric you want or external metrics including fuel price, VAT/Sales tax, interest rate, precipitation and pollution levels or even solar radiation). The last chart correlates your sales (in this case a restaurant) against market sales across categories. The question it raises is what exactly is going on there. Does it mean that women initially bought either shoes or wine, changed their behavior in the middle of the period where they either bought both or neither, and are now returning back to the first scenario?

Is this not information anyone that wants to start a business, is growing a business or defending a market leadership position would find useful? What if this environment was free for all participants?


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