REI Begins Strategic Expansion Adventure with geoVue's Site Selection Software
Written by geoVue
Monday, 08 August 2005
Woburn, MA-- geoVue, a leading provider of site selection software, market optimization and other location intelligence solutions for retail, franchise, real estate and other chain operations, announces their recent licensing agreement with Recreational Equipment, Inc. (REI), a national retail cooperative selling quality outdoor gear and clothing.
REI is currently using geoVue’s iSITE and iPREDICT solutions to analyze and map potential sites, generate custom demographic reports, and evaluate the sales potential of prospective new store locations.
“Before geoVue, we were manually evaluating sites ZIP code by ZIP code, which was tedious as well as time consuming,” said Phil Shryock, Senior Retail Market Analyst at REI. “iSITE gave us the ability to simultaneously analyze and forecast multiple sites; and the simple UI and integrated package allowed us to start as soon as the software was installed. What used to involve a day’s worth of work can now be accomplished in five minutes, giving us more time on the road [to visit the sites in person]. GeoVue is saving us time as well as money-because we know the locations we pick will be the right ones.”
“As a renowned supplier of specialty outdoor gear and clothing, REI certainly knows that the best adventures take place when the explorer is prepared with the right equipment,” said geoVue president and founder James A. Stone. “When it comes to strategic retail expansion, this principle is the same. We are proud to provide the site selection and location intelligence tools necessary towards REI’s national growth, and look forward to sharing this adventure for years to come.”
About REI:
REI is a national outdoor retail cooperative committed to inspiring, educating and outfitting for a lifetime of outdoor adventure. Founded in 1938 by a group of Pacific Northwest mountaineers seeking quality equipment, REI is today the nation’s largest consumer co-op with more than 2.5 million active members. REI offers products from all of the top brands including its own line of award-winning gear and apparel. While anyone may join or shop at REI, members pay a one-time $15 fee and receive a share in the company’s profits through an annual member refund based on their purchases. REI currently operates stores in 25 states, two online stores - REI.com and REI-OUTLET.com - and an adventure travel company, REI Adventures. A portion of REI’s profits is set aside each year for support of environmental stewardship and outdoor recreation causes.
About geoVue:
geoVue is a leading provider of location-based decision support systems for the real estate, retail, and restaurant industries; with clients including The Limited, United Parcel Service, Albertson’s, Dunkin’ Donuts, Radio Shack, GMAC, REI and Prudential Real Estate. This unique combination of analytical software and human expertise provides solutions for market planning, site selection, direct marketing and merchandise planning that maximize the effectiveness of chain stores nationwide.
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