  The problem of identifying the optimal location for a new retail store has
been the focus of past research, especially in the field of land economy, due
to its importance in the success of a business. Traditional approaches to the
problem have factored in demographics, revenue and aggregated human flow
statistics from nearby or remote areas. However, the acquisition of relevant
data is usually expensive. With the growth of location-based social networks,
fine grained data describing user mobility and popularity of places has
recently become attainable.
  In this paper we study the predictive power of various machine learning
features on the popularity of retail stores in the city through the use of a
dataset collected from Foursquare in New York. The features we mine are based
on two general signals: geographic, where features are formulated according to
the types and density of nearby places, and user mobility, which includes
transitions between venues or the incoming flow of mobile users from distant
areas. Our evaluation suggests that the best performing features are common
across the three different commercial chains considered in the analysis,
although variations may exist too, as explained by heterogeneities in the way
retail facilities attract users. We also show that performance improves
significantly when combining multiple features in supervised learning
algorithms, suggesting that the retail success of a business may depend on
multiple factors.
