In the digital age, location intelligence and foot traffic analytics based on mobility data are changing the retail business, giving many retailers an edge over their competitors.
Location intelligence is defined as a methodology for understanding and visualizing mobility data to help solve a wide variety of retail problems.
Foot traffic analytics is derived from location intelligence, helping retailers to obtain a better understanding about how people move around physical locations and enabling new visibility into consumer behavior patterns by presenting a visualization of people’s movement within a physical area, even segmented by the infinite type of consumers who pass near a store.
You may be interested in: “Location analytics can drive retailers to success: Case Study Home Depot Vs. Ace Hardware.”
There are many tools such as Big Data, predictive models, geospatial analysis techniques, GIS (Geographic Information Systems), AI among many others that improve the calculation of traffic of people visiting stores, using this information along with stores site locations, workforce, staffing, and local weather environment it’s possible to develop effective marketing initiatives based on data analytics.
Through analysis of consumer behavior patterns, store design is improved and marketing strategies can be created to attract more consumers in the right place at the right time.
With Big Data analysis techniques, a customer environment is created that encourages clients to engage with the brand, elevating the sense of ownership and value, increasing the likelihood that consumers will purchase the product or service being offered.
Also read: “Geospatial Data for Site Selection for New Outlets.”
Predictive models and AI (artificial intelligence) help renew aspects of establishments, products and services, based on future trends, in order to stay one step ahead of competitors and keep customers interested and engaged.
Geospatial analytics techniques makes possible to find the right areas to create special events, to know where and when to present new products and services, or even to choose the site selection of the next business.
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