The retail industry can rely greatly on footfall and visitation trends as performance markers to maintain profitability, expand presence, gauge competition, measure ad conversions, improve supply chain efficiency etc.
Retail and FMCG businesses can leverage geospatial data for this purpose to maintain and grow market share in hyper-competitive landscapes. Analyzing raw location data allows firms to understand the relationships between competing Points-of-Interest (POI), improve ROI on marketing campaigns, optimize supply chain operations, and more.
Analyze movement patterns and unlock valuable insights on how people move around the physical world
Retail and FMCG firms utilize consumer movement data alongside POI data to find and connect with potential partners and resellers or push location-based promotional messages to drive customers to their outlets. Human mobility data enables businesses to perform footfall analysis for their own (as well as competitor) stores - which, in turn, allows them to examine trends, modify strategy, and pinpoint the advantages that rivals hold over them. Geolocation data helps drive profitability, supply-chain efficiency, and targeted marketing for a variety of brands.
Conduct footfall analytics at various scales to evaluate the distribution and density of target audiences, measure market penetration, etc.
Monitor mobility trends and patterns to understand people's interests, build reliable audience profiles and identify prospective buyers
Study in-store movement, improve product placement, and increase ROI on both offline and online ads with location-based intelligence
Identify new consumer segments and gauge demand for upcoming and existing products by combining customer footfall and demographic data.
Study consumer visitation at rival outlets (POI) to execute cannibalization studies and obtain actionable intelligence to guide profitable expansion plans.
Analyse the efficiency of logistics operations at a granular scale and reduce costs through better supply chain management