Introduction
Whole Foods Market is a U.S. supermarket chain that positions itself as a premium retailer and focuses on offering natural and organic products with strict standards for quality and sourcing. It caters to health-conscious consumers who are willing to pay a premium for high-quality, natural and organic products. The success of a retail store often depends on its location. Selecting the right retail store locations is a strategic decision that can significantly impact customer satisfaction and the profitability of the company. To identify potential locations for new stores in Los Angeles, it is crucial to understand neighborhood factors that influence where Whole Foods Markets locate.
This project aims to identify the indicators that are associated with the presence of Whole Foods Market stores in Los Angeles. Poisson regression model will be applied with cross-sectional data examine the association between Whole Foods Market locations (number of Whole Foods Markets per zip code) and various indicators (e.g. housing price, household income, population, crime rate, employment, competitors, apartment rent, age, and race distribution).
It is widely known that Whole Foods Market typically chooses site locations in affluent neighborhoods or areas with a high concentration of health-conscious consumers. However, it is believed that other factors may also play a role in the decision-making process. By analyzing a diverse set of neighborhood indicators, valuable insights can be provided into the characteristics of neighborhoods that are most conducive to the presence of Whole Foods Market stores.
Done
• Data Collection
• Data Cleaning
• Explanatory Data Analsysis
In Progress
• Model Selection
• Machine Learning
• Results