What is Location Analytics?
Location analytics is the process of using data generated by actual customer interactions with a retailer’s physical spaces to gain insights into consumer behaviour, preferences, and purchase patterns.
Tracking actual consumer movement involves using fully permissioned data from consumers’ mobile devices to understand how they move through physical spaces such as stores, shopping centres, or entire cities. With GPS accuracy to within 3 metres, it is now possible to map where people go, at what times, and for how long, unlocking a previously inaccessible set of insights about customers and their behaviours.
Every element of retail store strategy can benefit from location analytics, from improving customer experience and store layouts, to optimising marketing strategy and strengthening store site selection. But where retailers can really gain a competitive advantage, is using location analytics to see insights into their competitor’s customers. This enables a direct comparison to be made of customer behaviour and business performance.
Consumer location analytics offers an unrivalled opportunity to observe anonymised real-life behaviours scaled up from individual data points, which can then inform strategic business decisions.
Watch our 1 minute intro video to track and target competitor customers and grow market share
See who shops with your competitor, and where they come from, to target them to visit your store or website
If they already shop with you, see how many competitors they visit, and precisely target sales growth.
See who shops where, how often, and for how long, and map catchment areas by visitation and by market share.
Build a precise geographical marketing plan, to communicate with potential customers who already shop in your category.
Watch the intro video, then book a free report :
How does location analytics work?
Analyse competitor store visitation versus your own
Be one step ahead of the competition in knowing your market
Location Optimiser can track where else your customers shop, how often they visit, and when, so you can create strategies to increase market share
- Time of day and day of week patterns to track visitation
- Demographic profiling to understand more about segmentation and preferences
- Visitation by category shows where else customers shop when they’re not with you
Map consumer pathways & shopping journeys
Increase traffic to your store
Consumer pathway mapping allows you to see the routes consumers take to and from your stores, and your competitors
- Understand shopping trips and popular destinations
- Optimise outdoor marketing opportunities
- Improve store location strategies
Target untapped local opportunity
Pinpoint competitive areas to target market share growth
Map precise competitor catchment areas versus your own, based on consumer home locations, and target areas of greatest market opportunity
- Identify competitor hotspots and where they are beating you
- Target customer home locations with marketing and advertising
- Calculate potential spend
A location analytics success story
Location Optimiser analysis reveals new audiences for concept store
Whilst IKEA already possessed extensive customer data within their Family loyalty programme, they now needed to understand the potential of new audiences, and how to directly access them.
Quite simply, IKEA needed to rapidly visualise customer location behaviour, integrated with multiple additional sources of customer profiling data, and customer shopping or transactional data. All in an easy to consume format, that would surface insights quickly, and facilitate positive business decisions.
Watch an instant video demo of Location Optimiser
Do you need to find new customers and grow market share?
Do you need to precisely target the right local audiences who currently shop elsewhere?
This 10 minute video will explain exactly how location analytics works, and demonstrate how you can see competitor store visitation, analyse competitor performance, and map target customer locations.
Find out more with a personalised demo
If you’d like to know more about location analytics, and how it can accurately identify your market share growth potential, and target the right customers, just get in touch here.
We’ll have a chat and show you a personalised demo featuring your locations.