The location data from the network is combined with socio-demographic profiles from GfK consumer research and the US Census.
Location Insights allows retailers to improve their decision making in the following areas:
- Observe visitor traffic for competitive retail sites
- Identify store locations with the greatest sales potential and competitive positioning
- Optimize mix of local marketing and advertising, and monitor competitor ad effectiveness
- Compare store sales to metrics such as foot traffic and loyal shopper frequency across your store portfolio
- Tailor assortment to more closely fit changing demographics of foot traffic
- Determine when and where to place Out of Home advertising to best reach targets and optimize advertising campaigns
A few months ago GfK partnered with Telefónica to offer a similar product in Europe and South America (read more here).