We have 90% accuracy on revenue predictions for new stores.
Kai Fontana - Commercial Director Central Europe @Smyths Toys
Smyths Toys Superstores
Smyths Toys Superstores is the European leading retail providing children's toys and entertainment products.
Create accurate revenue predictions for new stores' openings.
Create accurate revenue predictions for new stores' openings and enrich the site selection process with accurate data.
Footfall and sociodemographics data on our portfolio and potential new locations.
90% accuracy on revenue predictions for new stores.
Smyths Toys Superstores is an Irish multinational company providing children's toys and entertainment products. With over 200 shops throughout Ireland, the Uk, Germany, Switzerland and Austria, Smyths is the leading European toy store.
Can you introduce Smyths Toys and your role within the company?
Kai Fontana: As the fastest-growing toy retailer in Europe, we always aim to open our stores in strategic locations. Our retail strategy consists of opening large stores located in retail parks. In addition, we try to target large cities to reach as many people as possible and generate enough return on investment in our locations.
As the Commercial Director for Central Europe, my goal is to find and analyse the most attractive commercial locations. I gather and utilise data to select stores and maintain our profitability.
Why did you choose Mytraffic as a data provider? And how does it help you in your site selection process?
Kai Fontana: Before Mytraffic, we did not use any solution to measure pedestrian flows. When new locations were proposed to us, we needed a tool to measure the footfall potential. With the platform, we assess if the footfall is big enough for us to consider the location. We also look at visitors' origins to understand our catchment area's size. Mytraffic also gives us historical data on how many people have been in a location.
We now understand the footfall dynamics in new sites. But we are also able to compare the data to our current stores. By benchmarking against ourselves, we can identify the characteristics of a good location and try to find those similarities for potential new ones. Also, we sometimes have multiple offers, and we use Mytraffic's data to enrich our comparative studies.
How does Mytraffic help you with revenue predictions?
Kai Fontana: When we have proposals for new locations, we enter a site selection process phase. Smyths Toys uses this process to determine whether or not investing in this commercial location would be profitable. Mytraffic's data enrich this process by providing analyses of the footfall and visitors' profiles.
In order to predict revenue for new openings, we gather different types of data, and footfall data is part of them. Currently, we have 90% accuracy on revenue predictions for new stores. Mytraffic validates our approach and confirms the accuracy of our predictive location studies.
Which analysis do you use the most?
Kai Fontana: Here at Smyths, Dynamic footfall and catchment area are the most used analysis. We have both quantitative and qualitative data. We ensure that the footfall is high enough and that our target audience visits the location.
A final word?
Kai Fontana: If you don't have any data, you're playing a guessing game. For any company today, it is essential to have quality and up-to-date data. Without this, it is impossible to anticipate and make the right decisions in time. Mytraffic helps us make better decisions and maintain our accuracy.
Even if you are a big retailer and already have experience in the industry, the world is changing, and data-driven decisions are the present and the future.
Kai Fontana Commercial Director Central Europe @ Smyths Toys
With more than 20 years of retail experience, Kai specialises in retail analysis and location studies. Having worked in the children's toys industry for years, he has excellent market knowledge.